Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information Use the following information for the Quick Studies 12-13 below. (Algo) (The following information applies to the questions displayed below] Organic Food

image text in transcribedimage text in transcribed

Required information Use the following information for the Quick Studies 12-13 below. (Algo) (The following information applies to the questions displayed below] Organic Food Company's Cash account shows a $6,500 debit balance and its bank statement shows $5,860 on deposit at the close of business on August 31 a. August 31 cash receipts of $2.240 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $220 NSF check from a customer; the company has not yet recorded this NSF check c. Outstanding checks as of August 31 total $2,120. d. In reviewing the bank statement, an $180 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $120 in bank service charges; the company has not yet recorded the cost of these services. QS 6-12 (Algo) Bank reconciliation LO P3 Prepare a bank reconciliation using the above information. Check mu

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

Horngrens Accounting

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

11th edition

978-0133851151, 013385115X, 978-0133866889

More Books

Students also viewed these Accounting questions

Question

Which date is used to record a credit card transaction?

Answered: 1 week ago