Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash

image text in transcribed

Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $16,060 debit balance and its bank statement shows $16,169 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,356. b. The June 30 bank statement lists a $30 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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 $498. d. The June 30 cash receipts of $2,226 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 8-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information

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

Financial Crime Investigation And Control

Authors: K. H. Spencer Pickett, Jennifer M. Pickett

1st Edition

0471203351, 9780471203353

More Books

Students also viewed these Accounting questions