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prepare any journal entries that are needed to adjust cash a/c at june 30 also prepare a bank reconciliation at june 30 Ayayai Spa shows
prepare any journal entries that are needed to adjust cash a/c at june 30
also prepare a bank reconciliation at june 30
Ayayai Spa shows a general ledger balance for the Cash account of $4,181.35 on June 30 and the bank statement as of that date indicates a balance of $4,135.00. When the statement was compared with the cash records, the following facts were determined: 1. 2. 3. 4. 5. 6. There were bank service charges for June of $29.00, A bank memo stated that Bao Dal's note for $918.00 and interest of $36.00 had been collected on June 29, and the bank had charged $4.50 for the collection. Any interest revenue has not been accrued. Deposits in transit June 30 were $2,965.00 Cheques outstanding on June 30 totalled $2,060.05. On June 29, the bank had charged Ayayai Spa's account for a customer's NSF cheque amounting to $528.20. A customer's cheque received as a payment on account of $96.00 had been entered as $73.00 in the cash receipts journal by Ayayai Spa on June 15. Cheque no.742 in the amount of $508.00 had been entered in the books as $446.00, and cheque no. 747 in the amount of $48.70 had been entered as $554.00. Both cheques were issued as payments on account. In May, the bank had charged a $30.50 Wella Spa cheque against the Ayayai Spa account. The June bank statement indicated that the bank had reversed this charge and corrected its error. 7. 8. Prepare a bank reconciliation at June 30. (List items that increase balance as per bank & books first. Round answers to 2 decimal places, e.g. 52.75.) Step by Step Solution
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