Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

termine whether the following items included in Wong Company's January 2018 bank reconcillation will require adjustments on Wong's books and indicate the amount of any

image text in transcribed
termine whether the following items included in Wong Company's January 2018 bank reconcillation will require adjustments on Wong's books and indicate the amount of any necessary adjustment. (Deductible amounts should be indicated with minus sign.) a. Service charges of $48 for the month of January were listed on the bank statement b. The bank charged a $557 check drawn on Wing Restaurant to Wong's account. The check was included in Wong's bank statement c. A check of $98 was returned to the bank because of insufficient funds and was noted on the bank statement Wong received the check from a customer and thought that it was good when it was deposited into the account A $918 deposit was recorded by the bank as $981 e. Four checks totaling $1,131 written during the month of January were not included with the January bank statement f. A $38 check written to Office Max for office supplies was recorded in the general journal as $83. g. The bank statement indicated that the bank had collected a $681 note for Wong s h. Wong recorded $1059 of receipts on January 31, 2018, which were deposited in the night depository of the bank. These deposits were not included in the bank statement Reconciling Book Balance Added or Adjusted? d

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

Recommended Textbook for

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions

Question

How are most students funded?

Answered: 1 week ago