Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below is information related to Scuba Dive Company. The balance according to the books at October 31, 2020, was $99,650.29; cash receipts recorded during

Presented below is information related to Scuba Dive Company. The balance according to the books at October 31, 2020, was $99,650.29; cash receipts recorded during November were $64,812.69; and cash disbursements recorded for November were $76,843.30. The balance according to the bank statement on November 30, 2020, was $82,363.68. The following cheques were outstanding at November 30: Cheque #920 #991 #1030 #1064 Amount 940.29 2,836.50 1,964.34 817.66 4 Included with the November bank statement and not recorded by the company were a bank debit memo for $25.26 covering bank charges for the month, a debit memo for $5,193.75 for a customer's cheque (Marnie Wiesen) returned and marked NSF, and a credit memo for $608.32 representing interest collected by the bank for Scuba Dive Company. Cash on hand at November 30, which has been recorded and is awaiting deposit, amounted to $7,204.10. Required: a. Prepare a bank reconciliation at November 30, 2020. (Round your answers to 2 decimal places.) Bank Statement Bank statement balance Add: SCUBA DIVE COMPANY Bank Reconciliation November 30, 2020 Book balance Add: Company's Booksimage text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

Students also viewed these Accounting questions