Aries Company's check book lists the following: Date Check No. Items Check Deposit Balance August 4 1 5622 Lotus Gift Shoppe Dividends 5623 PLDT Co. 5624 Petron 5625 Cash 5626 St. Joseph Cathedral 5627 Zulueta's Apartment Paycheck 7,875 6,590 9,330 7,685 5,815 3,065 1,690 1,285 9 2,740 13 1,645 1,870 2,750 1,375 1,125 14 18 26 28 565 30 17,000 17,565 The August bank statement shows: Balance 7,875 Add: Deposits Deduct Checks: Nos: 2,740 Amount 5622 P 1,285 1,645 1,970* 2,750 5623 5624 5625 (7,650) Other Charges: Printed checks P 120 Service charge 90 (210). (7,860) Balance 2,755 *This is the correct amount of check number 5624. Required: Prepare Aries Company's bank reconciliation at August 31.
Aries Company's check book lists the following: Date Check No. Items Check Deposit Balance August 4 1 5622 Lotus Gift Shoppe Dividends 5623 PLDT Co. 5624 Petron 5625 Cash 5626 St. Joseph Cathedral 5627 Zulueta's Apartment Paycheck 7,875 6,590 9,330 7,685 5,815 3,065 1,690 1,285 9 2,740 13 1,645 1,870 2,750 1,375 1,125 14 18 26 28 565 30 17,000 17,565 The August bank statement shows: Balance 7,875 Add: Deposits Deduct Checks: Nos: 2,740 Amount 5622 P 1,285 1,645 1,970* 2,750 5623 5624 5625 (7,650) Other Charges: Printed checks P 120 Service charge 90 (210). (7,860) Balance 2,755 *This is the correct amount of check number 5624. Required: Prepare Aries Company's bank reconciliation at August 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer and provide proper solutions.

Transcribed Image Text:Aries Company's check book lists the following:
Date
Check No.
Items
Check Deposit
Balance
August
4
1
5622 Lotus Gift Shoppe
Dividends
5623 PLDT Co.
5624 Petron
5625 Cash
5626 St. Joseph Cathedral
5627 Zulueta's Apartment
Paycheck
7,875
6,590
9,330
7,685
5,815
3,065
1,690
1,285
9
2,740
13
1,645
1,870
2,750
1,375
14
18
26
28
1,125
565
30
17,000
17,565
The August bank statement shows:
Balance
7,875
Add: Deposits
Deduct Checks: Nos:
2,740
Amount
1,285
1,645
1,970*
2,750
5622 P
5623
5624
5625
(7,650)
Other Charges:
Printed checks P
120
Service charge
90
(210),
(7,860)
Balance
2,755
*This is the correct amount of check number 5624.
Required: Prepare Aries Company's bank reconciliation at August 31.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education