Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information is available for Jade Company for the month ending June 30, 2014 Balance as per the bank statement is $11, 240. Balance
The following information is available for Jade Company for the month ending June 30, 2014 Balance as per the bank statement is $11, 240. Balance as per books is $10, 200. Check #506 for $1, 200 and check #510 for $900 were not shown on the June 30, bank statement. A deposit in transit of $3, 110 had not been received by the bank when the bank statement was generated. A bank debit memo indicated an NSF check for $85 written by Jane Smith to Jade Company on June 13. A bank credit memo indicated a note collected by the bank of $2, 100 and interest revenue of $55 on June 20. The bank statement indicated service charges of $20. Based on the above information, prepare a bank reconciliation for Jade Company for June 30, 2014 Prepare the necessary general journal entries to adjust cash to the reconciled balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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