Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following to answer questions 9-11 On November 30th, the general ledger of AC shows a balance for cash of $100,000. Cash receipts

image text in transcribed

Use the following to answer questions 9-11 On November 30th, the general ledger of AC shows a balance for cash of $100,000. Cash receipts yet to be deposited into the checking account total $47,000, while checks written by AC but not yet processed by the bank total $52,000. The company's balance of cash does not reflect a NSF check of $1,300, a service fees of $80 and interest earned of $36 and a customer payments collected by the bank of $21,000; however, these amounts are included in the balance of cash of $124,656 reported by the bank as of the end of November. Answer the following based on the process of doing the bank reconciliation: 9. $ 10. $ 11. $ Determine the total amount that is used to reconcile the Bank balance (include "-" if needed): Determine the total amount that is used to reconcile the Company cash balance (include "" if needed) What is the balance in the company's cash account after the reconciliation?

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

Financial Accounting

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

3rd edition

9780077506902, 78025540, 77506901, 978-0078025549

More Books

Students also viewed these Accounting questions