Answered step by step
Verified Expert Solution
Question
1 Approved Answer
prepare adjusting entries for valentine based on the information developed in the bank reconciliation on feburary 28 Instructions Bank Reconciliation Sha Ad Bank Reconciliation Schedule
prepare adjusting entries for valentine based on the information developed in the bank reconciliation on feburary 28
Instructions Bank Reconciliation Sha Ad Bank Reconciliation Schedule February 28 Ge $11,610.00 2. 1 Cash balance from bank statement 2 Add: Deposits in transit 3 Less: Outstanding checks Adjusted cash balance s Cash balance from company records 6 Less: Service charge Less: Debit memo (electric bill) 4,580.00 (5.157.00) $11,033.00 $11,883.00 Ge $(50.00) (800.00) 7 Q (850.00) $11,033.00 8 Adjusted cash balance Assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocatore&inprogress=false eBook Show Me How Calculator Instructions Chart Of Accounts Amount Descriptions Bank Reconciliation General Journal General Journal Shaded cells have feedback.X eneral boumal Instructions Question not attempted GENERAL JOURNAL Score: 0/51 IMPACT ON FINANCIAL STATEMENTS BALANCE SHEET INCOME STAL DATE POST. REF DEBIT CREDIT ASSETS UABUITIES EQUITY ACCOUNT TITLE Adjusting Entries REVENUE ore Feb 28 Points Feedback Check My Work Ned Check My Work All work saved. Emal instructor Save and Exit Submit Assignment for Grading ak Reconciliation Instructions Chart Of Accounts Amount Descriptions Bank Reconciliation Gene neral Journal Shaded cell Chart Of Accounts Instructions Valentine Investigations has the following information for its cash account: $ 7,444 Balance, 1/31 Deposits during February Checks written during February 106,780 102,341 Valentine's bank statement for February contained the following information: Valentine Investigations Bank Reconciliation Instructions Chart Of Accounts Amount Descriptions Bank Reconciliation General Journal Instructions Valentine Investigations Bank Reconciliation Schedule February 1 Balance per bank 1/31 58,910.00 2 Add 3 February deposits 104,950.00 4 $113,860.00 5 Less: 7 . Checks paid in February Bank service charge Debit memo (electric bill) Balance per bank, 2/28 S(101,400.00) (50.00) (800.00) . (102,250.00) $11,610.00 A comparison of company records with the bank statement provided the following data: At 2/28 At 1/31 $2,750 Deposits in transit Outstanding checks $4.580 5,157 4,216 Check My Work Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started