1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $750 check drawn by a customer, Jane Jones, marked NSF. 3. Cash receipts of $10,000 on December 31 were not deposited until January 4. 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: number 620 for $900, number 630 for $2,400, and number 641 for $5,675. Required: a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records.

1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000. 2. Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $750 check drawn by a customer, Jane Jones, marked NSF. 3. Cash receipts of $10,000 on December 31 were not deposited until January 4. 4. The following checks had been issued in December but were not included among the paid checks returned by the bank: number 620 for $900, number 630 for $2,400, and number 641 for $5,675. Required: a. Prepare a bank reconciliation at December 31. b. Prepare the necessary journal entry or entries to update the accounting records.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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