Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cash account for Mellon Collie Company at October 31, 2045 indicated a balance of $10,080. The bank statement indicated a balance of S11.652. Using

image text in transcribed
image text in transcribed
image text in transcribed
The cash account for Mellon Collie Company at October 31, 2045 indicated a balance of $10,080. The bank statement indicated a balance of S11.652. Using the following information, prepare a bank reconciliation for Mellon Collie Company for October 31, 2015. (a) (b) (c) (d) A check paid to a supplier on account for $1,105 was incorrectly recorded by Mellon Collie for $1,150. NSF check from customer in the amount of 5303. It was returned by the bank A check written by Mellon Collie for $1,200 was incorrectly recorded by the bank as $120, Outstanding checks amounted to $1,624 Deposits in transit are $1,350. The bank service charge is $20. The bank collected payment on a note owed to Mellon Collie in the amount of $496 (el (1) (8) MELLON COLLIE COMPANY Bank Reconciliation October 31, 2015 MELLON COLLIE COMPANY Bank Reconciliation October 31, 2015 Balance according to CP Adet 1 Dudat Atted balance Adjusted balance Balance sconding to Add wity orduct: Adusted balance

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

Financial Accounting For Decision Makers

Authors: Mark DeFond

2nd Edition

1618533142, 9781618533142

More Books

Students also viewed these Accounting questions

Question

=+b) Identify all the factor levels.

Answered: 1 week ago