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BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. The following information is discov- ered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 10/29 $210.00 10/30 406.00 Outstanding checks: No. 1635 56.40 No. 1639 175.00 No. 1641 135.50 No. 1653 443.10 Unrecorded ATM withdrawal:* 200.00 Bank service charge: 37.00 476.00 Checkbook shows it was for $75, but it was actually written for $57. Accounts Payable was debited. NSF check: Error on Check No. 1624 *Funds were withdrawn by Enoch Johnson for personal use.

BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. The following information is discov- ered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 10/29 $210.00 10/30 406.00 Outstanding checks: No. 1635 56.40 No. 1639 175.00 No. 1641 135.50 No. 1653 443.10 Unrecorded ATM withdrawal:* 200.00 Bank service charge: 37.00 476.00 Checkbook shows it was for $75, but it was actually written for $57. Accounts Payable was debited. NSF check: Error on Check No. 1624 *Funds were withdrawn by Enoch Johnson for personal use.

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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How to solve 7-8 A 

HAD RELATED JOURNAL ENTRIES The book balancein 258 PART 2 Accounting for Cash and Payroll 1. Prepare a bank reconciliation as of October 31, 20--. 2. Prepare the required journal entries. REQUIRED 20 is $3. 282 95 Th h
Transcribed Image Text:HAD RELATED JOURNAL ENTRIES The book balancein 258 PART 2 Accounting for Cash and Payroll 1. Prepare a bank reconciliation as of October 31, 20--. 2. Prepare the required journal entries. REQUIRED 20 is $3. 282 95 Th h
SERIES A PROBLEMS P 7-8A (LO2) / Adjusted book balance: $5,023 BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. The following information is discov- ered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 10/29 $210.00 10/30 406.00 Outstanding checks: No. 1635 56.40 No. 1639 175.00 No. 1641 135.50 No. 1653 443.10 Unrecorded ATM withdrawal:* 200.00 Bank service charge: 37.00 476.00 Checkbook shows it was for $75, but it was actually written for $57. Accounts Payable was debited. NSF check: Error on Check No. 1624 *Funds were withdrawn by Enoch Johnson for personal use. (continued)
Transcribed Image Text:SERIES A PROBLEMS P 7-8A (LO2) / Adjusted book balance: $5,023 BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. The following information is discov- ered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 10/29 $210.00 10/30 406.00 Outstanding checks: No. 1635 56.40 No. 1639 175.00 No. 1641 135.50 No. 1653 443.10 Unrecorded ATM withdrawal:* 200.00 Bank service charge: 37.00 476.00 Checkbook shows it was for $75, but it was actually written for $57. Accounts Payable was debited. NSF check: Error on Check No. 1624 *Funds were withdrawn by Enoch Johnson for personal use. (continued)
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