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 Clinie's cash account shows an $16,119 debit balance and its bank statement

image text in transcribed
Required information [The following information applies to the questions displayed below) Del Gato Clinie's cash account shows an $16,119 debit balance and its bank statement shows $15,365 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,595 b. The June 30 bank statement tists a $60 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $889 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 $898 d. The June 30 cash receipts of $2,298 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement Prepare its bank reconciliation using the above information DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Bank statement balance Add: 0 0 Deduct: Deduct: 0 Adjusted bank balance $ 0 Adjusted book balance

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

Understanding And Conducting Information Systems Auditing

Authors: Arif Ahmed, Veena Hingarh

1st Edition

1118343743, 978-1118343746

More Books

Students also viewed these Accounting questions