Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 (5 marks) Below is the bank statement information about Tina's Day Care as on April 30, Year 1. Cash balance per bank,

image text in transcribed

Question 1 (5 marks) Below is the bank statement information about Tina's Day Care as on April 30, Year 1. Cash balance per bank, April 30, Year 1 Cash balance per general ledger, April 30, Year 1 Outstanding checks, April 30, Year 1 Deposit in transit, April 30, Year 1 NSF check (from a customer for a payment on account) returned by bank April interest earned per bank statement Check no. 800 in payment of accounts payable cleared the bank for $1,100, but was erroneously recorded in the books at $800 Deposit in amount of $6,000, recorded properly on books, erroneously credited on bank statement as $6,200 Required: Part A: Prepare a bank reconciliation as of April 30, Year 1. Part B: Prepare any journal entries required as a result of the bank reconciliation. $5,586 5,055 1,816 750 450 15

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Advanced Accounting

Authors: Gail Fayerman

1st Canadian Edition

9781118774113, 1118774116, 111803791X, 978-1118037911

More Books

Students also viewed these Accounting questions

Question

saviage vaie. Required: it hightint thiring

Answered: 1 week ago

Question

write short note on " Global market place " with suitable examples

Answered: 1 week ago