Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 19 The information below relates to the Cash account in the ledger of Minton Company. Cash deposited-$64,040 Balance September 1-$17,260; Balance September 30-$18,104; Checks

image text in transcribedimage text in transcribed

Question 19 The information below relates to the Cash account in the ledger of Minton Company. Cash deposited-$64,040 Balance September 1-$17,260; Balance September 30-$18,104; Checks written-$63,196 The September bank statement shows a balance of $17,122 on September 30 and the following memoranda. Credits Debits Collection of $1,841 note plus interest $39 Interest earned on checking account $1,880 $54 NSF check: Richard Nance $775 Safety deposit box rent $74 At September 30, deposits in transit were $4,800, and outstanding checks totaled $2,733 Prepare the bank reconciliation at September 30. (List items that increase cash balance first. Reconcile cash balance per bank first.) MINTON COMPANY Bank Reconciliation September 30 Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Sept. 30 (To record note receivable.) Sept. 30 (To record interest earned.) Sept. 30 (To record NSF check.) Sept. 30 (To record safety deposit rent.)

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

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

Internal Audit Quality Developing A Quality Assurance And Improvement Program

Authors: Sally-Anne Pitt

1st Edition

1118715519, 978-1118715512

More Books

Students also viewed these Accounting questions

Question

what is the markup of 167% if translates to a gross profit margin??

Answered: 1 week ago

Question

What is the effect of word war second?

Answered: 1 week ago

Question

7. List behaviors to improve effective leadership in meetings

Answered: 1 week ago

Question

6. Explain the six-step group decision process

Answered: 1 week ago