Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is provided with regards to Hind, Inc.: Balance in cash account on books at December 31, 2019 prior to receiving bank statement

image text in transcribed

image text in transcribed

The following information is provided with regards to Hind, Inc.: Balance in cash account on books at December 31, 2019 prior to receiving bank statement Depost in transit Outstanding checks Balance in cash account per bank statement on December 31, 2019 Electronic collection on account from Anas, a customer of Hind, Inc. Service charge Check #1250 written to Grand Blanc Electric Company (correct amount as shown on bank statement) Amount Hind, Inc. recorded check #1250 for on books (incorrect amount as shown on books) $ 1,386,125.00 $ 106,625.00 $ 127,950.00 $1,674,012.50 $ 298,550.00 $ 21,325.00 $ 159,937.50 $ 149,275.00 1. Prepare the bank side of Hind, Inc.'s December 31st bank reconciliation (4 points): 2. Prepare the book side of Hind, Inc.'s December 31st bank reconciliation 3. Prepare all journal entries that Hind, Inc. needs to record from the bank reconciliation (6 points)

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

Cost Accounting College Version

Authors: Steven M. Bragg

1st Edition

1938910702, 978-1938910708

More Books

Students also viewed these Accounting questions

Question

What research studies are you interested in conducting?

Answered: 1 week ago

Question

=+5. What do you want them to think?

Answered: 1 week ago

Question

=+What the product does for the end-user.)

Answered: 1 week ago