reconciliation and entries tructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Instructions Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30, 2012, have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account CASH ACCOUNT Balance as of June 1 $9,317.40 CASH RECEIPTS FOR MONTH OF JUNE 9.223.76 DUPLICATE DEPOSIT TICKETS: Date and amount of each deposit in June: Date Amount Date Amount Date Amount June 1 $1,080.50 June 22 $897.34 854.17 June 10 15 17 $996.61 882.95 1,606.74 24 947.21 8 840.50 301 ,117.74 CHECKS WRITTEN: Number and amount of each check issued in June Work 2 more Check My Work uses remaining. reconciliation and entries Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions, Instructions CHECKS WRITTEN: Number and amount of each check issued in June: Amount Check No. 740 741 Check No. 747 Amount Void Check No. 754 755 $449.75 S450.90 272.75 742 756 113.95 Amount $237.50 495.15 501.90 761.30 506.88 117.25 298.66 748 749 750 751 640.13 276.77 299.37 757 758 743 744 745 746 407.95 259.60 901.50 486.39 537.01 753 380.95 Total amount of checks issued in June: $8,395.66 BANK RECONCILIATION FOR PRECEDING MONTH: Work 2 more Check My Work uses remaining. Account Amount Descriptions Bank Reconciliation Journal Filha Questo Instructions Beeler Furniture Company Bank Reconciliation May 31, 2012 59,447.20 690.25 1 Cash balance according to bank statement 2 Add: Deposit in transit on May 31 3 Deduct: Outstanding Check No. 731 - Outstanding Check No. 736 Outstanding Check No.738 6 Outstanding Check No. 739 $162.15 345.95 251.40 60.55 Total deductions (820.05) Adjusted balance $9,317.40 10 Cash balance according to company's records $9,352.50 11 Deduct: Bank service charges (35.10) neck My Work 2 more Check My Work uses remaining. Calculator Instructions 12 Adjusted balance $9,317.40 Refer to the June Bank Statement. Required: 1. Prepare a bank reconciliation as of June 30, 2012. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add" & "Deduct:" will automatically appear if it is required. Round your answers to two decimal places. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. 3. What is the amount of Cash that should appear on the balance sheet as of June 30, 20Y2? 4. Assume that a canceled check for $390 has been incorrectly recorded by the bank as $930. Briefly explain how the error would be included in a bank reconciliation and how it should be corrected. Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questi Chart of Accounts CHART OF ACCOUNTS Beeler Furniture Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable EXPENSES 510 Cost of Merchandise Sold 141 Merchandise Inventory 145 Office Supplies 515 Credit Card Expense 146 Store Supplies 516 Cash Short and Over 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 191 Office Fouinment 532 Delivery Expense Bank reconciliation and entries InstructionsChart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Chart of Accounts 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 194 Accumulated Depreciation-Store Equipment LIABILITIES 537 Selling Expenses 210 Accounts Payable 538 Store Supplies Expense 561 Depreciation Expense-Office Equipment 221 Notes Payable 222 Interest Payable 562 Depreciation Expense-Store Equipment 231 Salaries Payable 590 Miscellaneous Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends heck My Work 2 more Check My Work uses remaining. and entries hart of Accounts Amount Descriptions Bank Reconciliation Journa Amount Descriptions Amount Descriptions Adjusted balance Bank service charges Check returned because of insufficient funds Error in recording June 10 deposit Error in recording June 24 deposit Error in recording Check No. 743 Deposit in transit on June 30 Note collected by bank, including $210 interest Outstanding Check No. 738 Outstanding Check No. 756 Outstanding Check No. 758 Outstanding Check No. 759 Total additions Total deductions eck My Work uses remaining. Book Calculator Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Bank Reconciliation 1. Prepare a bank reconciliation as of June 30, 2012. Il errors in recording deposits or checks are discovered, assume that the errors were made by the company Assume that al deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Description is provided for the exact wording of the answer choices for text entries. "Add" & "Deduct will automatically appear if it is required. Round your answers to two decimal places. (Note: For those boxes in which you must ente acted or negative numbers use a minus sign.) Beeler Furniture Company Bank Reconciliation June 30, 2012 1 Cash balance according to bank statement Previous Next eck My Work 2 more Check My Work uses remaining Email Instructor Submit A n ford BOOK Calculator Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Journal 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places JOURNAL DATE DESCRIPTION POST. REF. ArcoINTING FOLATION ASSETS LIABILITIES EQUITY Check My Work 2 more Check My Work uses remaining. Browse Featured Chrome Web Store Hiring Center Book Calculator Bank reconciliation and entries Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Final Questions 3. What is the amount of Cash that should appear on the balance sheet as of June 302 4. Assume that a canceled check for $390 has been incorrectly recorded by the bank as 930. Select how the error would be included in a bank reconciliation and how it should be corrected Treatment Addition to cash per company's records Deduction from cash per company's records Not included in a bank reconciliation Deduction from cash per bank statement Addition to cash per bank statement eck My Work 2 more Check My Work uses remaining. Previous Email Instructor Submit Assignment Browse - Featured Chrome Web Store -Book Calculator Final Questions Not included in a bank reconciliation Deduction from cash per bank statement Addition to cash per bank statement To correct: Deduct from the amount of bank service charges Journalize an entry adding $540 to cash Journalize an entry deducting $930 from cash Request that the bank correct the error Journalize a correcting entry adding $930 to cash Journalize an entry deducting $540 from cash Deck My Work 2 more Check My Work uses remaining Show Me How Calculator k reconciliation and entries instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question structions The cash account for Coastal Bike Co. at October 1, 2019, indicated a balance of $5,140. During October, the total cash deposited was $39.175, and checks written totaled $40,520. The bank statement indicated a balance of $8,960 on October 31, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,560. b. A deposit of $1.050 representing receipts of October 31, had been made too late to appear on the bank statement C. The bank had collected for Coastal Bike Co. $2.120 on a note left for collection. The face of the note was $2.000. d. A check for $370 returned with the statement had been incorrectly charged by the bank as $730 C. A check for 1310 returned with the statement had been recorded by Coastal Bike Co. as $130. The check was for the payment of an obligation to Rack Pro Co on account e Bank service charges for October amourned to $25 1. Acheck for 5880 from Bay View Condos was returned by the bank due to insufficient funds Previous Next > Checy WOR 2 more Check My Workestening Submit Ag ent for Grading reconciliation and entries tructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Instructions Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30, 2012, have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account CASH ACCOUNT Balance as of June 1 $9,317.40 CASH RECEIPTS FOR MONTH OF JUNE 9.223.76 DUPLICATE DEPOSIT TICKETS: Date and amount of each deposit in June: Date Amount Date Amount Date Amount June 1 $1,080.50 June 22 $897.34 854.17 June 10 15 17 $996.61 882.95 1,606.74 24 947.21 8 840.50 301 ,117.74 CHECKS WRITTEN: Number and amount of each check issued in June Work 2 more Check My Work uses remaining. reconciliation and entries Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions, Instructions CHECKS WRITTEN: Number and amount of each check issued in June: Amount Check No. 740 741 Check No. 747 Amount Void Check No. 754 755 $449.75 S450.90 272.75 742 756 113.95 Amount $237.50 495.15 501.90 761.30 506.88 117.25 298.66 748 749 750 751 640.13 276.77 299.37 757 758 743 744 745 746 407.95 259.60 901.50 486.39 537.01 753 380.95 Total amount of checks issued in June: $8,395.66 BANK RECONCILIATION FOR PRECEDING MONTH: Work 2 more Check My Work uses remaining. Account Amount Descriptions Bank Reconciliation Journal Filha Questo Instructions Beeler Furniture Company Bank Reconciliation May 31, 2012 59,447.20 690.25 1 Cash balance according to bank statement 2 Add: Deposit in transit on May 31 3 Deduct: Outstanding Check No. 731 - Outstanding Check No. 736 Outstanding Check No.738 6 Outstanding Check No. 739 $162.15 345.95 251.40 60.55 Total deductions (820.05) Adjusted balance $9,317.40 10 Cash balance according to company's records $9,352.50 11 Deduct: Bank service charges (35.10) neck My Work 2 more Check My Work uses remaining. Calculator Instructions 12 Adjusted balance $9,317.40 Refer to the June Bank Statement. Required: 1. Prepare a bank reconciliation as of June 30, 2012. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add" & "Deduct:" will automatically appear if it is required. Round your answers to two decimal places. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. 3. What is the amount of Cash that should appear on the balance sheet as of June 30, 20Y2? 4. Assume that a canceled check for $390 has been incorrectly recorded by the bank as $930. Briefly explain how the error would be included in a bank reconciliation and how it should be corrected. Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questi Chart of Accounts CHART OF ACCOUNTS Beeler Furniture Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable EXPENSES 510 Cost of Merchandise Sold 141 Merchandise Inventory 145 Office Supplies 515 Credit Card Expense 146 Store Supplies 516 Cash Short and Over 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 191 Office Fouinment 532 Delivery Expense Bank reconciliation and entries InstructionsChart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Chart of Accounts 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 194 Accumulated Depreciation-Store Equipment LIABILITIES 537 Selling Expenses 210 Accounts Payable 538 Store Supplies Expense 561 Depreciation Expense-Office Equipment 221 Notes Payable 222 Interest Payable 562 Depreciation Expense-Store Equipment 231 Salaries Payable 590 Miscellaneous Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends heck My Work 2 more Check My Work uses remaining. and entries hart of Accounts Amount Descriptions Bank Reconciliation Journa Amount Descriptions Amount Descriptions Adjusted balance Bank service charges Check returned because of insufficient funds Error in recording June 10 deposit Error in recording June 24 deposit Error in recording Check No. 743 Deposit in transit on June 30 Note collected by bank, including $210 interest Outstanding Check No. 738 Outstanding Check No. 756 Outstanding Check No. 758 Outstanding Check No. 759 Total additions Total deductions eck My Work uses remaining. Book Calculator Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Bank Reconciliation 1. Prepare a bank reconciliation as of June 30, 2012. Il errors in recording deposits or checks are discovered, assume that the errors were made by the company Assume that al deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Description is provided for the exact wording of the answer choices for text entries. "Add" & "Deduct will automatically appear if it is required. Round your answers to two decimal places. (Note: For those boxes in which you must ente acted or negative numbers use a minus sign.) Beeler Furniture Company Bank Reconciliation June 30, 2012 1 Cash balance according to bank statement Previous Next eck My Work 2 more Check My Work uses remaining Email Instructor Submit A n ford BOOK Calculator Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Journal 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places JOURNAL DATE DESCRIPTION POST. REF. ArcoINTING FOLATION ASSETS LIABILITIES EQUITY Check My Work 2 more Check My Work uses remaining. Browse Featured Chrome Web Store Hiring Center Book Calculator Bank reconciliation and entries Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Questions Final Questions 3. What is the amount of Cash that should appear on the balance sheet as of June 302 4. Assume that a canceled check for $390 has been incorrectly recorded by the bank as 930. Select how the error would be included in a bank reconciliation and how it should be corrected Treatment Addition to cash per company's records Deduction from cash per company's records Not included in a bank reconciliation Deduction from cash per bank statement Addition to cash per bank statement eck My Work 2 more Check My Work uses remaining. Previous Email Instructor Submit Assignment Browse - Featured Chrome Web Store -Book Calculator Final Questions Not included in a bank reconciliation Deduction from cash per bank statement Addition to cash per bank statement To correct: Deduct from the amount of bank service charges Journalize an entry adding $540 to cash Journalize an entry deducting $930 from cash Request that the bank correct the error Journalize a correcting entry adding $930 to cash Journalize an entry deducting $540 from cash Deck My Work 2 more Check My Work uses remaining Show Me How Calculator k reconciliation and entries instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question structions The cash account for Coastal Bike Co. at October 1, 2019, indicated a balance of $5,140. During October, the total cash deposited was $39.175, and checks written totaled $40,520. The bank statement indicated a balance of $8,960 on October 31, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,560. b. A deposit of $1.050 representing receipts of October 31, had been made too late to appear on the bank statement C. The bank had collected for Coastal Bike Co. $2.120 on a note left for collection. The face of the note was $2.000. d. A check for $370 returned with the statement had been incorrectly charged by the bank as $730 C. A check for 1310 returned with the statement had been recorded by Coastal Bike Co. as $130. The check was for the payment of an obligation to Rack Pro Co on account e Bank service charges for October amourned to $25 1. Acheck for 5880 from Bay View Condos was returned by the bank due to insufficient funds Previous Next > Checy WOR 2 more Check My Workestening Submit Ag ent for Grading