Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ryan Harrison Corporation operates four bowling alleys. The business just received the October 31, 2024, bank statement from City National Bank, and the statement shows

Ryan Harrison Corporation operates four bowling alleys. The business just received the October 31, 2024, bank statement from City National Bank, and the statement shows an ending balance of $930. Listed on the statement are an EFT rent collection of $395, a service charge of $6, NSF checks totaling $75, and a $20 charge for printed checks. In reviewing the cash records, the business identified outstanding checks totaling $485 and a deposit in transit of $1,785. During October, the business recorded a $300 check by debiting Salaries Expense and crediting Cash for $30. The business's Cash account shows an October 31 balance of $2,206. Read the requirements. Requirement 1. Prepare the bank reconciliation at October 31. Prepare the bank portion of the reconciliation, followed by the book portion of the reconciliation. Ryan Harrison Corporation Bank: ADD: LESS: Books: ADD: LESS: Bank Reconciliation October 31, 2024 Time Remaining: 02:29:26 Next
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Journalize the adjustment for the NSF check. Joumalize th: os for printed checks, (Do Journalize the service charges. Joumalize the sarvice charpes: Ryan Harrison Corporation operates four bowing alleys. The business just recelved the October 31, 2024, bank statoment from City Notional tlank, and the statement shows an ending balance of identifed outstanding checks totaling $485 and a deposit in transit of $1,785. During October, the business recorded a $300 check by debiting $3alarins Expense and crediting Cash for $30. The business's Cash account shows an October 31 balance of $2,206. Rond the tequirements. Requirement 1. Prepare the bank reconcilation at October 31 . Prepare the bank portion of the reconciliation, followed by the book portion of the reconcilation. Bogin with the EFT collection

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

Current Issues In Auditing

Authors: Michael J Sherer, W Stuart Turley

3rd Edition

1853963658, 978-1853963650

More Books

Students also viewed these Accounting questions

Question

Evaluate the importance of diversity in the workforce.

Answered: 1 week ago

Question

Identify the legal standards of the recruitment process.

Answered: 1 week ago