Posted this question earlier but there was some missing information that prevented it from being answered. I really need to submit this tonight though so
Posted this question earlier but there was some missing information that prevented it from being answered. I really need to submit this tonight though so I'm reposting it, and any help would be appreciated.
Under the 'Instructions' category, please only complete problem B. Thank you!
There is a missing number for the bank reconciliation question. Not sure if it effects problem B but I'm going to post it anyway. Under Other information / Book Balance, there should be an entry for 31-Mar-20 for $7,089.42. Please let me know if there is any other information missing, thank you!
Cash Payments Journal all checks are payments on account April 2020 CASH RECEIPTS JOURNAL April 2020 DATE CHK PAYEE Amount 137 CashGrabber Realty 1,080.00 Note: ALL cash receipts 138 Makagood Key Corp. ,700.00 are collections 139 Natarnicola's Commissary 462.00 on ACCOUNT 140 Julia's Supplies & Amenities 1,309.00 141 Columbian Coffee Co 5,621.00 DATE AMOUNT 142 Billy's Beans 515.90 April 7 143 Sister's of the Dreadful LAMs 0.99 1,620.00 144 Petty Cash 436 2 3,726.00 145 Verizon 953.80 8 2,719.00 146 Danielle's Donuts 95.38 10 1,814.40 147 The Daily Planet - key 183.80 11 6,156.00 148 Man Wa's Cuccina De' Casa 231.00 15 4,374.00 16 149 BP - AMOCO 394.54 18 1,944.00 19 150 AMEX 1,087.54 21 3,790.80 20 151 Maldarelli Brothers Trucking, Inc. 1,395.54 22 2,235.60 21 152 Rodriguez Rapid Transit 1,703.54 30 5,141.88 21 153 Philo Kvetch 424.45 33,521.68 22 154 J. Pace 3,127.00 22 155 R. Weinstein 5.03 24 156 Frank's Yankee Paraphernalia 1,350.00 24 157 Verizon Wireless 463.34 Other Information 27 158 Scrooge National Bank 2,650.00 Book Balance 29 159 L. Nguyen, CPA 550.00 31-Mar-20 29 160 NYS Income Tax 725.00 30 161 Squeegeew Cleaning 65.00 Checks Outstanding March 31st 85 251.00 Total Checks Disbursed 32,529.85 92 22.13 122 19.60 124 153.00 Instructions: 128 224.00 129 998.00 Based upon the information provided prepare: 130 337.00 131 642.85 A. A bank reconciliation for the month 132 1,100.25 ended April 30, 2020 133 941.17 (assume errors, if any, are made by the 134 521.20 company) 135 357.00 136 65.50 B. The necessary journal entries relative to 5,812.70 the reconciliation. (all checks disbursed are payments on account) Deposit In Transit 31-Mar-20 $527.00Problem #4 continued Scrooge National Bank 666 Crooked Hill Road Brentwood, N. Y. 11717 Tammy Tortellini Period Opening 31-Mar-20 LIE Exit 52 Rest Stop Period Closing 30-Apr-20 Commack, New York 11768 Opening Balance as of 31-Mar-20 $12,375.12 Deposits and other credits: April $527.00 11 1,814.4 2 1,620 12 6,156 3,726 16 4,374 9 2,791 19 1,944 10 158.5 WT 22 3,790.8 23 2,235.6 Total deposits and other credits................."; $29,137.30 Checks and other debits: check # 85 251.00 check # 142 515.90 check # 122 99.60 check # 144 463.00 check # 124 153.00 check # 145 953.80 check # 128 224.00 check # 146 95.38 check # 129 998.00 check # 147 183.80 check # 130 337.00 check # 148 231.00 check # 132 1,100.25 check # 149 394.54 check # 133 941.17 check # 150 7.54 check # 134 521.20 check # 151 1,395.54 check # 135 357.00 check # 152 1,703.54 check # 136 65.50 check # 153 424.45 check # 137 1,080.00 check # 154 3,127.00 check # 138 7,700.00 check # 156 1,350.00 check # 139 462.00 check # 157 463.34 check # 140 1,309.00 check # 158 2,650.00 check # 141 5,621.00 check # 159 550.00 Electronic Funds Transfer (payment on account) 1,303 Monthly service charge 39.75 Dr. Kevorkian Health Management Insurance 1,122.88 NSFcheck - (deposite check returned for insufficient funds) 1,419.12 Total checks and other debits....................". 40,693.30 Closing balance as of 30-Apr-20 $819.12 WT - wire transfer (collection on account)
