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's cash account shows an $13,281 debit balance and its bank statement

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's cash account shows an $13,281 debit balance and its bank statement shows $13,394 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.462 b. The June 30 bank statement lists a $70 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 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 $698. d. The June 30 cash receipts of $2.288 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement Prepare any necessary Journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction that Journal entry worksheet 1 Record the adjusting entry related to outstanding checks, if necessary Note: Enter debits before credits Transaction General Journal Debit Credit 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

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

Effective Communications

Authors: Elearn

1st Edition

1138456136, 9781138456136

More Books

Students also viewed these Accounting questions