Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016: Item Amount Ending Cash per Bank Statement $22,484

The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:

Item

Amount

Ending Cash per Bank Statement

$22,484

Note collected by bank included interest of $106

$5,106

Bank Service Charges

$35

Deposits in Transit

$1,776

Outstanding Checks

$4,717

Customer Check returned NSF

$322

A review of the bank statement reflected that check #224 recorded in the company check register as $1,725 to settle an accounts payable, was paid by the bank for the amount of $1,275. Use this information to prepare the compound General Journal entry (without explanation) for March 31, 2016, to cause the company books to match the adjusted cash balance based on the completed bank reconciliation. If no entry is required then write "No Entry Required."

Step by Step Solution

3.54 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

Date Account title and explanation 1 Cash Note Receivable Interest ... 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

Financial ACCT2

Authors: Norman H. Godwin, C. Wayne Alderman

2nd edition

9781285632544, 1111530769, 1285632540, 978-1111530761

More Books

Students also viewed these Accounting questions

Question

Explain the steps in obtaining ISO 9000 registration. AppendixLO1

Answered: 1 week ago

Question

A 300N F 30% d 2 m Answered: 1 week ago

Answered: 1 week ago

Question

Evaluate the integral, if it exists. Jo y(y + 1) dy

Answered: 1 week ago