Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Take me to the text The following data represents Information necessary to assist in preparing the April 30, 2018 bank reconciliation for Hard Work Company

image text in transcribed
image text in transcribed
Take me to the text The following data represents Information necessary to assist in preparing the April 30, 2018 bank reconciliation for Hard Work Company On April 30, the bank balance was 15,415 The bank statement indicated deduction of 521 for all bank service charges A customer deposited $1,170 directly into the bank account to settle an outstanding accounts receivable Check #751 for $700 and check 75 for 1490 have been recorded in the company ledger but did not appear on the bank statement A customer bald an amount of $4,434 to Hard Work Company on April 30 but the deposit did not appear on the bank statement The accounting clerk made an error and recorded a $160 check as 51,600. The check was written to pay an outstanding accounts payable account Check 5989 for 5140 was deducted from Hard Work Company's account by the bank. This check was not written by Hard Work Company and needs to be reversed by the bank The bank included an NSF check in the amount of 5430 relating to a customer's payment. The NSF fee was 511 The general ledger cath account showed a balance of $0,701 on April 30 Required Complete the bank reconciliation for Hard Work Company b) witte the necessary journal entries to correct Hard Work Company's records Donatante de committee Domotion al Hard Work Company Bank Reconciliation April 30, 2018 Cash balance per books Cash balance pe bank statement Add Outstanding depo EFT st Ledger error Deductanding check 75 not cleared Deduct Che noted NS service charge we charge A boot balance Enter the relevant journal entries in the order of transaction appearance above. Remember not all transactions will require jou b) Account Title and Explanation Dobit Credit Date 2018 Apr 30 . Record bank charges Apr 30 Record collection of accounts receivable Apr 30 To correct the record of accounts payable Apr 30 To record NSF check Apr 30 Record NSF Fee Check

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

Healthcare Fraud Auditing And Detection Guide

Authors: Rebecca S. Busch

1st Edition

0470127104, 978-0470127100

More Books

Students also viewed these Accounting questions

Question

List the functional consequences of PTSD.

Answered: 1 week ago