Transaction a: Record the adjusting entry related to outstanding checks, if necessary.Transaction b: Record the adjusting entry related to bank service charges, if necessary.Transaction c: Record the adjusting entry related to Check No. 919, if necessary.Transaction d: Record the adjusting entry related to the June 30 deposit, if necessary. **Del Gato Clinic Bank Reconciliation**Del Gato Clinic's cash account displays a debit balance of $13,911, while the bank statement indicates $12,946 on deposit as of the close of business on June 30.1. **Outstanding checks as of June 30 total $2,018.**2. **The June 30 bank statement includes an $85 bank service charge.**3. **Check No. 919**, mentioned with the canceled checks, was correctly issued for $589 for a utility bill on June 15. However, Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash for $598.4. **The June 30 cash receipts of $2,907** were deposited in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.**Adjusting Journal Entries**To reconcile the bank statement, Del Gato Clinic must prepare adjusting journal entries. If no entry is necessary for an event or transaction, select "No journal entry required" for the first account field.**Journal Entry Worksheet**- **Worksheet Tabs:** 1, 2, 3, 4 for recording necessary adjustments.- **Instructions:** Record the adjusting entry related to outstanding checks, if needed.Use this worksheet to ensure all transactions are accurately reflected in the financial records for the purpose of reconciliation.

Bank reconciliation statement is used to determine the differences between the bank statement…

Del Gato Clinic's cash account shows an $13,911 debit balance and its bank statement shows $12,946 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,018. b. The June 30 bank statement lists a $85 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of S598. d. The June 30 cash receipts of $2,907 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

Del Gato Clinic's cash account shows an $13,911 debit balance and its bank statement shows $12,946 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,018. b. The June 30 bank statement lists a $85 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of S598. d. The June 30 cash receipts of $2,907 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

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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