Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 Take me to the text Not checked The bank statement for Fashion is Danger had an ending cash balance of $2,400 on January

image text in transcribedimage text in transcribed
image text in transcribedimage text in transcribed
Question 3 Take me to the text Not checked The bank statement for Fashion is Danger had an ending cash balance of $2,400 on January 31, 2019. On this date the cash balance in their general ledger was $3,635. After comparing the bank statement with the company records, the following information was determined. Marked out of 35.00 The bank returned an NSF cheque in the amount of $470 that Fashion is Danger deposited on January 20. The NSF service fee was $7. Flag A direct deposit received from a customer on January 30 in payment of their accounts totaling $3,870. This has not yet been recorded by the company. question On January 30, the bank deposited $18 for interest earned The bank withdrew $26 for bank service charges. Deposits in transit on January 31 totalled $4,620. Required Reconcile the ledger and bank statement and create the required journal entries. Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Select the proper order for the headings of the Bank Reconciliation. Cash balance per bank statement Cash balance per books Add Ado Outstanding deposit EFT deposit nterest earned Deduct NSF cheque NSF service charge Bank service charge Adjusted bank balance Adjusted book balanceDate Account Title and Explanation Debit Credit 2019 Jan 31 Collect outstanding accounts receivable Jan 31 Record interest earned Jan 31 $ Record NSF Cheque Jan 31 Record bank charges Jan 31 Record NSF fee Check Note: The "check" button does not submit your attempt.To submit the attempt, go to the end of the quiz and click on

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

Managerial Accounting

Authors: Davis, Charles E., Elizabeth

1st Edition

0471699608, 978-0471699606

More Books

Students also viewed these Accounting questions

Question

7. One or other combination of 16.

Answered: 1 week ago