QUESTION # 1 12 On July 31, the bank statement showed an NSF charge for a check issued by Sanghar Traders, a customer to Golden Music on account. $4,138,0 $4,134.00 The following information pertains to Golden Music House: Instructions: (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Golden Music House. 1. Cash balance per bank, July 31, , $33.361.38 2. July bank statement included a memo for printing of additional company check charges not recorded by the depositor $265.00 3. Cash balance per books, July 31, , , $35,751.15 ULOG E 4. Cash sales on July 10 were deposited in the bank was not correctly recorded by the bank. - Actual cash sales deposited - Amount credited in the bank statement $4,218.80 $4,075.70 5. Cash sales on July 12 were deposited in the bank, but entry in the cash receipts journal entry and the deposit slip were incorrectly made. The bank, however credited Golden Music for the correct amount. - Actual cash sales - Amount posted in cash receipt journal $3.371.33 $3,636.33 13 Chec 6. Cash sales on July 17 were deposited in the bank, but entry in the cash receipts journal entry and the deposit slip were incorrectly made. The bank, however credited Golden Music for the correct amount. - Actual cash sales - Amount posted in cash receipt journal $5,157.96 $4.967.16 7. Deposits in transit, July 31 $10,144.73 8. Outstanding checks, July 31, $3,186.36 $ 9. On July 18, the company issued check No.1181 to C Zone, on account, which was incorrectly journalized and posted by Golden Music. The check was cleared the bank in July - Actual check amount - Amount posted 15 $1.982.20 $1,839.10 10. Bank collected a note for Golden Music in July along with interest. Net proceeds after deducting collection fee were credited to Golden account. This transaction along with interest was not recorded by Golden. - Amount of note - Interest charged - Collection fee - $13,780.00 $397.50 $79.50 11. Included with the cancelled checks was a check issued by Golden Breader to Tajik Sons that was incorrectly charged to Golden Music by the bank $4.770.00 QUESTION # 1 12 On July 31, the bank statement showed an NSF charge for a check issued by Sanghar Traders, a customer to Golden Music on account. $4,138,0 $4,134.00 The following information pertains to Golden Music House: Instructions: (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Golden Music House. 1. Cash balance per bank, July 31, , $33.361.38 2. July bank statement included a memo for printing of additional company check charges not recorded by the depositor $265.00 3. Cash balance per books, July 31, , , $35,751.15 ULOG E 4. Cash sales on July 10 were deposited in the bank was not correctly recorded by the bank. - Actual cash sales deposited - Amount credited in the bank statement $4,218.80 $4,075.70 5. Cash sales on July 12 were deposited in the bank, but entry in the cash receipts journal entry and the deposit slip were incorrectly made. The bank, however credited Golden Music for the correct amount. - Actual cash sales - Amount posted in cash receipt journal $3.371.33 $3,636.33 13 Chec 6. Cash sales on July 17 were deposited in the bank, but entry in the cash receipts journal entry and the deposit slip were incorrectly made. The bank, however credited Golden Music for the correct amount. - Actual cash sales - Amount posted in cash receipt journal $5,157.96 $4.967.16 7. Deposits in transit, July 31 $10,144.73 8. Outstanding checks, July 31, $3,186.36 $ 9. On July 18, the company issued check No.1181 to C Zone, on account, which was incorrectly journalized and posted by Golden Music. The check was cleared the bank in July - Actual check amount - Amount posted 15 $1.982.20 $1,839.10 10. Bank collected a note for Golden Music in July along with interest. Net proceeds after deducting collection fee were credited to Golden account. This transaction along with interest was not recorded by Golden. - Amount of note - Interest charged - Collection fee - $13,780.00 $397.50 $79.50 11. Included with the cancelled checks was a check issued by Golden Breader to Tajik Sons that was incorrectly charged to Golden Music by the bank $4.770.00
