B16 Illinois Company prepared the following bank reconciliation at May 31: Balance per bank £5,690 | Balance per books £6,195 Additions: Additions: Deposits in transit Check incorrectly charged to 460 Interest Received from bank 450 15 our bank balance Deductions: Deductions: (236) NSF check (Nelson) Bank service charges £5,929 | Correct cash balance (650) (66) £5,929 Outstanding checks Correct cash balance NOTE: NSF, non-sufficient fund check. Required: Prepare the necessary journal entries for Illinois Company required by the May 31 bank reconciliation.
B16 Illinois Company prepared the following bank reconciliation at May 31: Balance per bank £5,690 | Balance per books £6,195 Additions: Additions: Deposits in transit Check incorrectly charged to 460 Interest Received from bank 450 15 our bank balance Deductions: Deductions: (236) NSF check (Nelson) Bank service charges £5,929 | Correct cash balance (650) (66) £5,929 Outstanding checks Correct cash balance NOTE: NSF, non-sufficient fund check. Required: Prepare the necessary journal entries for Illinois Company required by the May 31 bank reconciliation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![B16 Illinois Company prepared the following bank reconciliation at May 31:
Balance per bank
£5,690 | Balance per books
£6,195
Additions:
Additions:
Deposits in transit
Check incorrectly charged to
460
Interest Received from bank
450
15
our bank balance
Deductions:
Deductions:
(236) NSF check (Nelson)
Bank service charges
£5,929 | Correct cash balance
Outstanding checks
(650)
(66)
£5,929
Correct cash balance
NOTE: NSF, non-sufficient fund check.
Required:
Prepare the necessary journal entries for Illinois Company required by the May 31
6
bank reconciliation.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe5167978-4abf-4375-be5e-caaf7e411ae7%2F60cfea9e-737d-4d67-84bc-eacc3dae2414%2F65ye7c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:B16 Illinois Company prepared the following bank reconciliation at May 31:
Balance per bank
£5,690 | Balance per books
£6,195
Additions:
Additions:
Deposits in transit
Check incorrectly charged to
460
Interest Received from bank
450
15
our bank balance
Deductions:
Deductions:
(236) NSF check (Nelson)
Bank service charges
£5,929 | Correct cash balance
Outstanding checks
(650)
(66)
£5,929
Correct cash balance
NOTE: NSF, non-sufficient fund check.
Required:
Prepare the necessary journal entries for Illinois Company required by the May 31
6
bank reconciliation.
![20
21
Section B
22
B16
Illinois Company Cashbook
Cr
23
24
Dr
25
26
27
28
29
30
31
32
B17
33
amounts
1 Depreication expense/month
2 Accumulated Depreciation
34
35
36
37
Accounts
Amount (dr) Amount (cr)
3 Journal for depreciation
Dr
Cr
38
39
40
41
Journal for the disposal
Dr
42
43
Cr
44
45
46
47
48
B18](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe5167978-4abf-4375-be5e-caaf7e411ae7%2F60cfea9e-737d-4d67-84bc-eacc3dae2414%2Fvsaqevp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:20
21
Section B
22
B16
Illinois Company Cashbook
Cr
23
24
Dr
25
26
27
28
29
30
31
32
B17
33
amounts
1 Depreication expense/month
2 Accumulated Depreciation
34
35
36
37
Accounts
Amount (dr) Amount (cr)
3 Journal for depreciation
Dr
Cr
38
39
40
41
Journal for the disposal
Dr
42
43
Cr
44
45
46
47
48
B18
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