Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information for the Exercises below. [The following information applies to the questions displayed below) Del Gato Clinic's cash account shows a $14,048

image text in transcribed
Use the following information for the Exercises below. [The following information applies to the questions displayed below) Del Gato Clinic's cash account shows a $14,048 debit balance and its bank statement shows $13,770 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,152 b. The June 30 bank statement lists a $40 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $698 d. The June 30 cash receipts of $2,399 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement Exercise 8-12 Bank reconciliation LO P3 Prepare its bank reconciliation using the above information $ Bank statement balance Add Deposit of June 30 $ 14.048) 5 2,399 DEL GATO CLINIC Bank Reconciliation June 30 13.770 Book balance Add Error on Ck No. 919 2,399 16,169 Deduct Bank service charge 2.152 S 14.012 Adjusted book balance 0 14.048 Deduct Outstanding checks 2.152 Adjusted bank balance $ 0 14.048

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

International Accounting

Authors: Frederick D. Choi, Gary K. Meek

7th Edition

978-0136111474, 0136111475

More Books

Students also viewed these Accounting questions

Question

Explain social supports impact on an individuals physical health.

Answered: 1 week ago