Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows

image text in transcribed

Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $12,942 debit balance and its bank statement shows $12,525 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,442. b. The June 30 bank statement lists a $75 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $789 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 $798. d. The June 30 cash receipts of $2,793 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 8-12 Bank reconciliation LO P3 Prepare its bank reconciliation using the above information. DEL GATO CLINIC Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: 0 0 0 0 Deduct: Deduct: 0 0 $ Adjusted bank balance $ 0 Adjusted book balance 0

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

Accounting Information Systems

Authors: George H. Bodnar, William S. Hopwood

8th Edition

0130861774, 9780130861771

More Books

Students also viewed these Accounting questions

Question

Define and describe the sections in a job description.

Answered: 1 week ago

Question

Discuss the relationship between job analysis and HRM processes.

Answered: 1 week ago