3 Part 2 of 2 12 points As of August 31, the bank statement shows a balance of $10,905. The August 31 unadjusted balance in the Cash account of Hall's Cards is $7,567. A review of the bank statement revealed the following information: 1. A deposit of $1,960 on August 31, Year 1, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $3,185 but was recorded on the books as $4,085. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,455 were found to be outstanding. 4. A debit memo for $57 was included in the bank statement for the purchase of a new supply of checks. eBook b. Prepare any necessary journal entries to adjust the books to the true cash balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print References Mc Graw Hill View transaction list Journal entry worksheet < A B Record the entry to correct the error created while recording check for inventory. Note: Enter debits before credits. Event 1 General Journal Debit Credit Clear entry Record entry > View general journal S < Prev 3 of 5 Next >
3 Part 2 of 2 12 points As of August 31, the bank statement shows a balance of $10,905. The August 31 unadjusted balance in the Cash account of Hall's Cards is $7,567. A review of the bank statement revealed the following information: 1. A deposit of $1,960 on August 31, Year 1, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $3,185 but was recorded on the books as $4,085. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,455 were found to be outstanding. 4. A debit memo for $57 was included in the bank statement for the purchase of a new supply of checks. eBook b. Prepare any necessary journal entries to adjust the books to the true cash balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print References Mc Graw Hill View transaction list Journal entry worksheet < A B Record the entry to correct the error created while recording check for inventory. Note: Enter debits before credits. Event 1 General Journal Debit Credit Clear entry Record entry > View general journal S < Prev 3 of 5 Next >
Chapter1: Financial Statements And Business Decisions
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