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APATHY COMPANY provided the following information: Apathy Company Check No. Withdrawal Date Deposits 100,000.00 100,000.00 90,000.00 Balance 2 18 104 10,000.00 20 101 5,000.00 85,000.00 22 106 25,000.00 60,000.00 50,000.00 110,000.00 10,000.00 120,000.00 80,000.00 30,000.00 110,000.00 108,000.00 27 29 29 103 40,000.00 29 CM 31 Service Charge DM 2,000.00 First Bank 100,000.00 Dec 50,000.00 1 Deposit 21 Deposit 27 Deposit 31 Deposit 4 ck# 101 6 ck# 102 8 ck# 103 8 ck# 104 Dec 5,000.00 15,000.00 10,000.00 40,000.00 80,000.00 10,000.00 10 ck# 105 14 ck# 106 28 ck# 107 30,000.00 25,000.00 50,000.00 The credit made by the bank on December 29 represents the proceeds of a note received from customer which was given to the bank for collection by the entity on December 26. Required: a. Prepare a Bank Reconciliation using adjusted balance method, book to bank method and bank to book me b. Prepare adjusting entries.

APATHY COMPANY provided the following information: Apathy Company Check No. Withdrawal Date Deposits 100,000.00 100,000.00 90,000.00 Balance 2 18 104 10,000.00 20 101 5,000.00 85,000.00 22 106 25,000.00 60,000.00 50,000.00 110,000.00 10,000.00 120,000.00 80,000.00 30,000.00 110,000.00 108,000.00 27 29 29 103 40,000.00 29 CM 31 Service Charge DM 2,000.00 First Bank 100,000.00 Dec 50,000.00 1 Deposit 21 Deposit 27 Deposit 31 Deposit 4 ck# 101 6 ck# 102 8 ck# 103 8 ck# 104 Dec 5,000.00 15,000.00 10,000.00 40,000.00 80,000.00 10,000.00 10 ck# 105 14 ck# 106 28 ck# 107 30,000.00 25,000.00 50,000.00 The credit made by the bank on December 29 represents the proceeds of a note received from customer which was given to the bank for collection by the entity on December 26. Required: a. Prepare a Bank Reconciliation using adjusted balance method, book to bank method and bank to book me b. Prepare adjusting entries.

FINANCIAL ACCOUNTING
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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APATHY COMPANY provided the following information: Apathy Company Check No. Withdrawal Deposits 100,000.00 100,000.00 Date Balance 2 18 104 10,000.00 90,000.00 101 5,000.00 85,000.00 60,000.00 50,000.00 110,000.00 10,000.00 120,000.00 20 22 106 25,000.00 27 29 80,000.00 30,000.00 110,000.00 108,000.00 29 103 40,000.00 29 CM 31 Service Charge DM 2,000.00 First Bank 1 Deposit 21 Deposit 27 Deposit 31 Deposit 100,000.00 Dec 4 ck# 101 5,000.00 15,000.00 Dec 6 ck# 102 8 ck# 103 8 ck# 104 50,000.00 10,000.00 40,000.00 80,000.00 10,000.00 10 ck# 105 30,000.00 14 ck# 106 25,000.00 28 ck# 107 50,000.00 The credit made by the bank on December 29 represents the proceeds of a note received from customer which was given to the bank for collection by the entity on December 26. Required: a. Prepare a Bank Reconciliation using adjusted balance method, book to bank method and bank to book method. b. Prepare adjusting entries.
Transcribed Image Text:APATHY COMPANY provided the following information: Apathy Company Check No. Withdrawal Deposits 100,000.00 100,000.00 Date Balance 2 18 104 10,000.00 90,000.00 101 5,000.00 85,000.00 60,000.00 50,000.00 110,000.00 10,000.00 120,000.00 20 22 106 25,000.00 27 29 80,000.00 30,000.00 110,000.00 108,000.00 29 103 40,000.00 29 CM 31 Service Charge DM 2,000.00 First Bank 1 Deposit 21 Deposit 27 Deposit 31 Deposit 100,000.00 Dec 4 ck# 101 5,000.00 15,000.00 Dec 6 ck# 102 8 ck# 103 8 ck# 104 50,000.00 10,000.00 40,000.00 80,000.00 10,000.00 10 ck# 105 30,000.00 14 ck# 106 25,000.00 28 ck# 107 50,000.00 The credit made by the bank on December 29 represents the proceeds of a note received from customer which was given to the bank for collection by the entity on December 26. Required: a. Prepare a Bank Reconciliation using adjusted balance method, book to bank method and bank to book method. b. Prepare adjusting entries.
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