Please answer and provide proper solutions. Aries Company's check book lists the following:DateCheck No.ItemsCheck DepositBalanceAugust415622 Lotus Gift ShoppeDividends5623 PLDT Co.5624 Petron5625 Cash5626 St. Joseph Cathedral5627 Zulueta's ApartmentPaycheck7,8756,5909,3307,6855,8153,0651,6901,28592,740131,6451,8702,7501,375141826281,1255653017,00017,565The August bank statement shows:Balance7,875Add: DepositsDeduct Checks: Nos:2,740Amount1,2851,6451,970*2,7505622 P562356245625(7,650)Other Charges:Printed checks P120Service charge90(210),(7,860)Balance2,755*This is the correct amount of check number 5624.Required: Prepare Aries Company's bank reconciliation at August 31.

Bank Reconciliation: It is a statement prepared to reconcile the balance of bank statement and…

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.

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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