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Question 11 (15 points) The following data was gathered for use in reconciling the bank account of East Meets West Company: Balance per bank February
Question 11 (15 points) The following data was gathered for use in reconciling the bank account of East Meets West Company: Balance per bank February 28h $24,340 Balance per company records February 28th 31,100 Monthly Bank service charges 50 Deposit in Transit 8,210 Outstanding cheques 3,300 NSF cheque from Scott & Co. 1,800 What will be the adjusted balance of the Bank Balance and General Ledger Balance? (whole numbers only, no comma's or $) A/ How many adjusting entries will East meets West Company be required to make? (whole numbers only) A/ Question 12 (15 points) Using the Perpetual Inventory System: Journalize the following 3 transactions as the Purchaser June 10th Purchased $15,000 of merchandise on account from ABC Company Terms: 2/10, n/30 June 15th Returned $2,000 of merchandise purchased on June 10th June 18th Paid the full amount outstanding on the June 10th purchase
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