Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available for Rosemary Corporation as of April 30, 2020: Cash on the books as of April 30 amounted to $113,891. Cash

image text in transcribed
The following information is available for Rosemary Corporation as of April 30, 2020: Cash on the books as of April 30 amounted to $113,891. Cash balance on the bank statement on the same date was 141,717. b. A deposit of $14,295, representing cash receipts of April 30, did not appear on the bank statement Outstanding checks totaled $7.293. d A check for $2,420 returned with the statement was journalized and posted in the books as $2,024. The check was written for payment of advertising expense. e. The April bank statement show a bank service charge for $76. A $36,400 note was collected by the bank for Rosemary Corporation on April 30. The bank mistakenly deducted a check for $800 that was drawn by Fox Corporation. An NSF check for $300from a customer. Ann Greeno, was returned with the bank statement, h REQUIRED: 1. Prepare the bank reconciliation for Rosemary Corporation as of April 30, 2020 2 Prepare the necessary journal entries from the bank reconciliation State the amount of cash that should appear on Rosemary Corporation's balance sheet as of April 30, 2020

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

Auditing

Authors: Thomas D. Hubbard, J. R. Johnson, Steve Johnson, Joel D. Hubbard

6th Edition

0873932609, 9780873932608

More Books

Students also viewed these Accounting questions

Question

LO6 Define harassment and the role that HR plays in addressing it.

Answered: 1 week ago