The following data were gathered to use in reconciling the bank account of Eves Company Balance per bank $9,350 Balance per company records 8,510 Bank service charges 35 Deposit in transit 2,350 NSF check 1,875 Outstanding checks 5,100 Instructions A What is the adjusted balance on the bank reconciliation B On March 1, journalize any necessary entries for Eves Company based on the bank reconciliation Refer to the Chart of Accounts for exact wording of account titles none X Starting question Shaded cells have feedback A What is the adjusted balance on the bank reconciliation Points 0 1 Feedback Check My Work Set up two columns one for the company cash account section and the other for the bank balance section Determine the effect of the data on each column Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal If not, an item has been overlooked or treated in error Explanation none X Chart of Accounts CHART OF ACCOUNTS Eves Company General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 537 Selling Expenses 538 Store Supplies Expense 561 Depreciation Expense Office Equipment 562 Depreciation Expense Store Equipment 590 Miscellaneous Expense 710 Interest Expense none X Journal Shaded cells have feedback B On March 1, journalize any necessary entries for Eves Company based on the bank reconciliation Refer to the Chart of Accounts for exact wording of account titles Question not attempted PAGE 1 JOURNAL Score 0 37 DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 3 Solution DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 3

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 15, 2024

The following data were gathered to use in reconciling the bank account of Eves Company: Balance per bank $9,350 Balance per company records 8,510 Bank

The following data were gathered to use in reconciling the bank account of Eves Company:

Balance per bank	$9,350
Balance per company records	8,510
Bank service charges	35
Deposit in transit	2,350
NSF check	1,875
Outstanding checks	5,100

	Instructions
A.	What is the adjusted balance on the bank reconciliation?
B.	On March 1, journalize any necessary entries for Eves Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.

none

Starting question

Shaded cells have feedback.

A. What is the adjusted balance on the bank reconciliation?

Points:

0 / 1

Feedback

Check My Work

Set up two columns: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each column. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error.

Explanation

none

Chart of Accounts

CHART OF ACCOUNTS

Eves Company

General Ledger

	ASSETS
110	Cash
111	Petty Cash
120	Accounts Receivable
131	Notes Receivable
132	Interest Receivable
141	Merchandise Inventory
145	Office Supplies
146	Store Supplies
151	Prepaid Insurance
181	Land
191	Office Equipment
192	Accumulated Depreciation-Office Equipment
193	Store Equipment
194	Accumulated Depreciation-Store Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
222	Interest Payable
231	Salaries Payable
241	Sales Tax Payable

	EQUITY
310	Owner, Capital
311	Owner, Drawing
312	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Merchandise Sold
515	Credit Card Expense
516	Cash Short and Over
520	Salaries Expense
531	Advertising Expense
532	Delivery Expense
533	Insurance Expense
534	Office Supplies Expense
535	Rent Expense
536	Repairs Expense
537	Selling Expenses
538	Store Supplies Expense
561	Depreciation Expense-Office Equipment
562	Depreciation Expense-Store Equipment
590	Miscellaneous Expense
710	Interest Expense

none

Journal

Shaded cells have feedback.

B. On March 1, journalize any necessary entries for Eves Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.

Question not attempted.

PAGE 1

JOURNAL

Score: 0/37