Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required Information [The following information applies to the questions displayed below.] 4 Del Gato Clinic's cash account shows an $16,920 debit balance and its bank

Required Information [The following information applies to the questions displayed below.] 4 Del Gato Clinic's cash account shows an $16,920 debit balance and its bank statement shows $16,369 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,051. b. The June 30 bank statement lists a $40 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 $2,571 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. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.
image text in transcribed
Required Information [The following information applies to the questions displayed below] Del Gato Clinic's cash account shows an \$16,920 debit balance and its bank statement shows $16,369 on deposit at the close of business on June 30 . o. Outstanding checks as of June 30 total $2,051. b. The June 30 bank statement ilsts a $40 bank service charge: c. Check No. 919 , isted with the canceled checks, was correctly drawn for $289 in payment of a utility bill on June 15 Del Gato Cilnic mistakenly recorded it with a debit to Utiltes Expense and a credit to Cash in the amount of $298. d. The June 30 cash receipts of $2,571 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. repare any necessary journal entries that Del Gato Cinic must record as a result of preparing the bank reconcilation. lote: If no entry is required for a transoction/event, select "No journal entry required" In the first account field

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

More Books

Students also viewed these Accounting questions

Question

WHAT IS ENVIORNMENTAL SUSTAINABILITY

Answered: 1 week ago