QBO Question UTD - ACCT4340
Question 3 10 points Save Answer At the end of the month you are reconciling your checking account and you cannot get the reconciliation difference to come to $0. Below is a screen shot of the reconciliation and the bank statement. What is the reason for the error? QBO Test Drive Bank Statement Statement Date: 12/31/19 Credits $ 175.00 Beginning Balance, December 1 5-Nov Check 10 - Robertson & Associates 11-Nov Deposit 27-Nov Check 12 - Robertson & Associates 19-Dec Check 4 - Chin's Gas and Oil 23-Dec Sales Tax Payment Ending Balance, December 31 Charges Balance $5,000.00 $ 300.00 $4,700.00 $4,875.00 $ 250.00 $4,625.00 $ 54.55 $4,570.45 $ 38.50 $4,531.95 $4,531.95 Chart of accounts > Bank register Reconcile Reconcile Statement ending date: December 31, 2019 Checking Edit info Save for later $4,231.95 $4,531.95 STATEMENT ENDING BALANCE CLEARED BALANCE ! $-300.00 DIFFERENCE $5,000.00 BEGINNING BALANCE $643.05 $175.00 1 DEPOSIT 4 PAYMENTS + Y X Statement ending date Clear filter / View all Payments Deposits All DATE TYPE REF NO. ACCOUNT PAYEE MEMO "AYMENT (USD) DEPOSIT (USD) 11/03/2019 Bill Payment 10 Accounts Payabl. Robertson & Associates 300.00 11/11/2019 Receive Payment 1053 Accounts Receiv... Bill's Windsurf Shop 175.00 11/25/2019 Expense 12 Legal & Professi... Robertson & Associates 250.00 12/17/2019 Check 4 Automobile:Fuel Chin's Gas and oil 54.55 12/23/2019 Sales Tax Payment - Split Q1 Payment 38.50 12/23/2019 Sales Tax Payment - Split - Q1 Payment 38.40 12/26/2019 Expense 9 Job Expenses:J... Tania's Nursery 89.09 12/26/2019 Check 12 Legal & Professi... Books by Bessie 55.00 0 Question 3 10 points Save Answer At the end of the month you are reconciling your checking account and you cannot get the reconciliation difference to come to $0. Below is a screen shot of the reconciliation and the bank statement. What is the reason for the error? QBO Test Drive Bank Statement Statement Date: 12/31/19 Credits $ 175.00 Beginning Balance, December 1 5-Nov Check 10 - Robertson & Associates 11-Nov Deposit 27-Nov Check 12 - Robertson & Associates 19-Dec Check 4 - Chin's Gas and Oil 23-Dec Sales Tax Payment Ending Balance, December 31 Charges Balance $5,000.00 $ 300.00 $4,700.00 $4,875.00 $ 250.00 $4,625.00 $ 54.55 $4,570.45 $ 38.50 $4,531.95 $4,531.95 Chart of accounts > Bank register Reconcile Reconcile Statement ending date: December 31, 2019 Checking Edit info Save for later $4,231.95 $4,531.95 STATEMENT ENDING BALANCE CLEARED BALANCE ! $-300.00 DIFFERENCE $5,000.00 BEGINNING BALANCE $643.05 $175.00 1 DEPOSIT 4 PAYMENTS + Y X Statement ending date Clear filter / View all Payments Deposits All DATE TYPE REF NO. ACCOUNT PAYEE MEMO "AYMENT (USD) DEPOSIT (USD) 11/03/2019 Bill Payment 10 Accounts Payabl. Robertson & Associates 300.00 11/11/2019 Receive Payment 1053 Accounts Receiv... Bill's Windsurf Shop 175.00 11/25/2019 Expense 12 Legal & Professi... Robertson & Associates 250.00 12/17/2019 Check 4 Automobile:Fuel Chin's Gas and oil 54.55 12/23/2019 Sales Tax Payment - Split Q1 Payment 38.50 12/23/2019 Sales Tax Payment - Split - Q1 Payment 38.40 12/26/2019 Expense 9 Job Expenses:J... Tania's Nursery 89.09 12/26/2019 Check 12 Legal & Professi... Books by Bessie 55.00 0
