Questions for accounting 101. Hope you can explain it.
Better with excel file.
WileyPLUS nil ASSIGNMENT RESOURCES Hi: 4 Ch.7 & 8 WileyPLUS Problem 7-2 Problem 7,7 Problem s-1A Problem 8-5A Review Score Review Results by Stud! Obiective i Kimmel, Financial Accounting, Seventh Canadian Edition MESSAGE m lerRucroR sunmxn vxsw Problem 7-7A The bank portion of last month's bank reconciliation for Sandhill Ltd. at February 28 was as follows: SANDHILL LTD. Bank Reconciliation February 25 Cash balance per bank $17,951 Add: Deposits in transit 3,119 m Less: Outstanding cheques #3451 $1,957 #3470 2,145 4,102 Reconciled cash balance $16,968 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconclllation at February 28. The March bank statement showed the followmg: SAN DHILL LTD. Bank Statement March 31 Amounts Amounls Added Deducted from to Account Date Description Account (Debits) (Credits) Balance Feb. 28 Opening balance 17,951 Man 1 Cheque, Not 3451 1,957 15,994 1 Deposit 3,119 19,113 2 Cheque, No. 3470 2,145 16,968 4 Deposit 1,973 18,941 9 Cheque, No. 3471 1,671 17,270 10 Returned chequeNSF, J. Mustafa 873 16,397 10 NSF fee 35 16,362 15 EFI', loan payment 1,202 15,160 19 cheque, No. 3472 1,823 13,337 25 Deposit 3,260 15,597 31 EFI', collection on account from mine: vsnsxon yPLUS: MHWilePLUS | Helg | Contact Us | Log Out INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) 4 BACK NEXT > yPLUS: MHwilePLuS | Help | Contact Us | Lag cut - WI leyPLUS Kimmel, Financial Accounting, Seventh Canadian Edition INTRODUCTION To ACCOUNTING I-MAJORS(AC'IGIP11) @ MESSAGE MV INSTRUCTOR STANDARD vwa PKXNYER VERSION 4 BACK ASSIGNMENT RESOURCES 19 Cheque, No. 3472 1,823 13,337 A uiz 4 Ch.7 & 8 26 Deposit 3,260 16,597 \"\"9 PLUS Pmb'em 7'2 31 EFT, collection on account from M. Boudreault 613 17,210 Problem e-1A Problem 85A 31 Bank service charges and credit card fees 89 17,121 Review score Sandhill's cash receipts and payments for the month of March showed the following: Review Results by study . objective Cash Receipts Cash Payments Date Amount Date Number Amount Mar. 4 $1,973 Mar. 7 3471 $1,671 26 3,260 15 3472 1,283 31 4,013 29 3473 4,919 $9 245 $7 873 Additional information: 1. The EFI' loan payment should have been recorded by the company on March 15, but this entry was missed. The payment included $84 of interest and a $1,113 payment on the loan principal. The bank made an error processing cheque #3472. Z 3. The EFI' collection was not previously recorded. 4 Bank service charges and credit card fees totalling $39 were not previously recorded. Calculate the cash balance per books at March 31, prior to reconciliation. Caash balance per books at March 31 $1 What Is the amount of the deposits in transit at March 31? Deposit in transit s l WileyPLUS El ASSIGNMENT RESOURCES Ni: 4 01.7 a 8 mm PLUS Problem 7-2 Problem s-lA Problem 8-5A Re ew Score Revlew Results by study Obiective Kimmel, Financial Accounting, Seventh Canadian E What is the amount of the deposits in transit at March 31? Deposit in transit $ What is the amount of the outstanding cheques at March 31? Outstanding cheques $ Prepare the bank reconciliation at March 31' (List items that increase balance as per bank A hooks first.) YAF LTDV Bank Reconc atiDn March 31 v i yPLUS Myw eyPLUS | Helg | | Lug om INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) MESSAGE Mv ms'mucroR STANDARD vwa PRXNYER VERSION 4 BACK NEXT > Myw eyPLUS | Helg | yPLUS INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) NEXT Wi leyPLUS Kimmel, Financial Accounting, Seventh Canadian E @ MESSAGE uv msmucrok snumnn new values: vsnsxon 4 BACK ASSIGNMENT RESOURCES 7 7' [ 7'7 7 7 7 7 ' Quiz 4 (cm a. a) \" wne PLUS Problem 7-2 Problem a-1A . ' Problem 8-5A Re aw score Revlew Results by study Obiective Prepare any journal entries required from the reconciliation. (Credit account titles are automatically lndented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" far the account titles and :nler D for the amounts.) Date Account llet and Explanation Debit Credit Mar, 31 i i i i (To record EFI' oolledions) 31 i i l ' Myw eyPLUS | Halg | yPLUS Wi leyPLUS Kimmel, Financial Accounting, Seventh Canadian E INTRODUCTION TO ACCOUNTING I-MAJORS (ACTGIPI 1) @ MESSAGE uv INSIRUCIOR s'uuDAnD vxew mums: vensxon ' 4 BACK NEXT > r ASSIGNMENTRESOURCES ' 7 ' Quiz 4 (ch.7 a a) ' Wile PLUS Problem 7-2 ' Problem 7,7 ' ' V Problem a-1A Problem 8-5A ' Re aw Score ' Prepare any journal entries required from the reconciliation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" \"we\
