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pls answer as soon as possible Question 28 (8 points) On December 31, 2028, Massive Ltd. had a cash balance of $11,392 in its general
pls answer as soon as possible
Question 28 (8 points) On December 31, 2028, Massive Ltd. had a cash balance of $11,392 in its general ledger. The bank statement from the Bank of Auditing on that date showed a balance of $11,879. A comparison of the bank statement with the Cash account revealed the following: a. Cash receipts for December 31 recorded on the company's books were $8,900, but this amount does not appear on the bank statement. b. Salaries of $6,500 were paid electronically during the month. The company has already recorded these. c. The bank statement included electronic collections from customers on account totaling $9,400. Massive had not recorded the EFT. d. Cheque #113, which was a payment for utilities expenses, had been correctly written for $358 but had been incorrectly recorded in the general ledger as $385. e. An NSE cheque for $2,400 and a processing fee of $55 from a customer was returned with the statement. f. Cheques outstanding on November 30 totaled $7.700. Of these, $5,200 worth cleared the bank in December. All cheques written in December cleared the bank in December. The bank statement included service chardes and dehit and credit card nrocessing fees of b. Salaries of $6,500 were paid electronically during the month. The company has already recorded these. c. The bank statement included electronic collections from customers on account totaling $9,400. Massive had not recorded the EFT. d. Cheque #113, which was a payment for utilities expenses, had been correctly written for $358 but had been incorrectly recorded in the general ledger as $385. e. An NSF cheque for $2,400 and a processing fee of $55 from a customer was returned with the statement. f. Cheques outstanding on November 30 totaled $7,700. Of these, $5,200 worth cleared the bank in December. All cheques written in December cleared the bank in December. g. The bank statement included service charges and debit and credit card processing fees of $85. Required: Prepare a bank reconciliation for Massive Ltd. at December 31, 2028. Paragraph Ev v + V B I UA/ go Required: Prepare a bank reconciliation for Massive Ltd. at December 31, 2028. Paragraph BI U V A 0Step by Step Solution
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