Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Take me to the text The bank statement for Monarch Catering had an ending cash balance of $1,600 on February 28, 2021. On this date
Take me to the text The bank statement for Monarch Catering had an ending cash balance of $1,600 on February 28, 2021. On this date the cash balance in their general ledger was $2.679. After comparing the bank statement with the company records, the following information was determined The bank returned an NSF cheque in the amount of $440 that Monarch Catering deposited on February 20. The NSF service fee was $5 A direct deposit received from a customer on February 27 in payment of their accounts totaling $3,830 This has not yet been recorded by the company On February 27, the bank deposited $20 for interest earned The bank withdrew $34 for bank service charges. Deposits in transit on February 28 totalled $4,450 Required Reconcile the ledger and bank statement and create the required journal entres Do not enter dollar signs on commas in the input boxes Do not uscanegative sians Select the croper order for the headings of the Bank Reconciliation 4 Cash balance per bank statement Cash balance per books Add Add Outstanding deposit EFT deposit Interest earned Deduct NSF cheque NSF service charge Bank service charge Adjusted bank balance Adjusted book balance Date Account Title and Explanation Debit Credit 2021 Feb 28 F
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started