Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information (The following information applies to the questions displayed below.) Del Gato Clinic deposits all cash receipts on the day when they are received

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information (The following information applies to the questions displayed below.) Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, its Cash account shows an $15,842 debit balance. Del Gato Clinic's June 30 bank statement shows $16,038 on deposit in the bank. a. Outstanding checks as of June 30 total $2,602. b. The June 30 bank statement lists a $50 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $289 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $298. d. The June 30 cash receipts of $2,365 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare a bank reconciliation for Del Gato Clinic using the above information: DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Bank statement balance Add: 0 0 0 0 Deduct Deduct: 0 0 Adjusted bank balance $ 0 Adjusted book balance $ 0 Journal entry worksheet 1 2 3 4 > Record the adjusting entry related to outstanding checks, if necessary. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet 1 23 4 > Record the adjusting entry related to bank service charges, if necessary. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry related to Check No. 919, if necessary. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal Journal entry worksheet

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_2

Step: 3

blur-text-image_3

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

Understanding Financial Accounting A Guide For Non-specialists

Authors: Jimmy Winfield, Mark Graham, Taryn Miller

1st Edition

0198847270, 9780198847274

More Books

Students also viewed these Accounting questions

Question

what is linux 7 5 4 permissions?

Answered: 1 week ago