Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Succulent It Up is an Etsy store specializing in selling succulents and cacti. The company's owner, Jade Vera, is preparing the bank reconciliation for the

image text in transcribed

image text in transcribed

Succulent It Up is an Etsy store specializing in selling succulents and cacti. The company's owner, Jade Vera, is preparing the bank reconciliation for the month just ended. At the beginning of the month, \$1,250.00 was in the company's check register. During the month, deposits of $323.00 and withdrawals of $368.49 were recorded in the check register. In comparing her check register to the bank statement, Jade noted the following: - The ending balance reported on the bank statement was $1,306.56. - A bank service charge of $15.00 was reported on the bank statement but not yet recorded in the check register. - A check to a supplier was incorrectly recorded in the check register as $10.05. The check cleared the bank for the correct amount of $10.50. - A $132.50 deposit included in the register totals above had not cleared the bank as of the end of the month. - A $250.00 cash dividend was paid to Jade on the last day of the month. It was included in the register totals above but had not cleared the bank as of the end of the month. The company's adjusted ending cash balance for the month just ended was $1,234.55 $1,071.56 $1,204.51 $1,306.56 $1,189.06

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions