Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

show your work where appropriate, such as any Select any 3 of the following 5 questions. You will receive 14 marks per question for a

show your work where appropriate, such as any Select any 3 of the following 5 questions. You will receive 14 marks per question for a If you answer more than 3 questions, I will grade the first 3 (unless it is clearly indicated that I should not mark a sp 1 Given the following information, prepare the bank reconciliation for Company A as at December 31, 2022. Prepare any journal entries that are required. a) The balance shown on their December 31, 2022 bank statement is $483,765. b) The balance shown on their trial balance, as at December 31, 2022, is $567,842. c) In reviewing the bank statement, Company A notices bank charges of $250 that have not been recorded. They also noticed that a customer had paid a $36,008 invoice by EFT, but they were previously unaware that the payment was received. d) A cheque for $15,740 received from a customer was returned by the bank due to NSF. e) Company A made a deposit of $156,855 on the morning of December 31, but the bank has not yet recorded the deposit. f) Company A notes that 10 cheques written to vendors, totalling $34,760 are outstanding. g) Cheque #36 received from Company E was for $42,000, but it was entered into the accounting system as $24,000

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting Custom Publication

Authors: Belverd E. Needles

7th Edition

0618681922, 978-0618681921

More Books

Students also viewed these Accounting questions

Question

=+j Explain the litigation risks in international labor relations.

Answered: 1 week ago

Question

=+j What rules will apply to the process of negotiations?

Answered: 1 week ago