Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available for the Tiemey Company for the month of November. On November 30, after all transactions have been recorded, the balance

image text in transcribed
image text in transcribed
The following information is available for the Tiemey Company for the month of November. On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $27,302 The company's bank statement shows a balance on November 30 of $29,404 . Outstanding checks at November 30 include check #3030 in the amount of $1,550 and check #3556 in the amount of $1,469 Included with the bank statement was a credit memo in the amount of $780 for an EFT in payment of a customer's account . The bank deducted $72 for an NSF check from a customer deposited on November 22. . A deposit placed in the bank's night depository on November 30 totaled $1,690 and did not appear on the bank statement . Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for S2470, but was recorded in the accounting records as $2,565. Included with the bank statement was a debit memorandum in the amount of $30 for bank service charges Required: Prepare a bank reconciliation for Tierney Company as of November 30 Tierney Company Bank Reconciliatiorn At November 30 Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Additions Ending Cash Balance per Books Additions Deductions: Deductions

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_2

Step: 3

blur-text-image_3

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

Accounting And Auditing Research Tools And Strategies

Authors: Thomas Weirich, Thomas C. Pearson, Alan Reinstein

6th Edition

032430224X, 9780324302240

More Books

Students also viewed these Accounting questions

Question

Discuss the various types of policies ?

Answered: 1 week ago

Question

Briefly explain the various types of leadership ?

Answered: 1 week ago

Question

Explain the need for and importance of co-ordination?

Answered: 1 week ago

Question

Explain the contribution of Peter F. Drucker to Management .

Answered: 1 week ago

Question

What abilities are possible because humans use symbols?

Answered: 1 week ago