Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information was available for Anderson Company for the month ended March 31, 2019. (10 marks) a) The book balance at March 31, 2019

The following information was available for Anderson Company for the month ended March 31, 2019. (10 marks)
a) The book balance at March 31, 2019 was $4,990.22.
b) The bank balance at March 31, 2019 was $6,960.22.
c) Outstanding cheques amounted to $6,310.
d) The March 31st cash receipts of $6,000 were deposited but have not yet appeared on the bank
statement.
e) A $75 debit memorandum for cheques printed by the bank was included with the cancelled
cheques.
f) A customer's note for $1,500 was collected by the bank. In addition, interest on the note was
$110.
g) The bank incorrectly recorded a cheque payment of $1,625 as $1,500.
Prepare a bank reconciliation for Anderson Company at March 31, 2019.

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

Audit Defense A Management Audit Readiness Guide

Authors: Ed Danter

1st Edition

3030924653, 978-3030924652

More Books

Students also viewed these Accounting questions

Question

1. that you understand the context: what your readers need?

Answered: 1 week ago