Question 2: Bank Reconcilation and Adjusting EntriesThe Apple Cider Vinegar Company has just received its August 31, 2025 bank statement, which issummarized below:JP Morgan Chase BankBalance, August 1Deposits during AugustZelle direct deposit by a customer; includes $40 of interestCheck cleared during August34,500Bank monthly service fee20DisbursementsReceiptsBalance9,36932,20041,5691,04042,6098,1098,0898,089Balance, August 31Apple Cider Vinegar Company's summary Cash account from its General ledger for August is:Balance, August 1Receipts during AugustDisbursements in AugustCash10,05035,00034,903Additional Information:1 Deposits in transit at August 31 are $3,800.2 Checks outstanding at August 31 total $1,050.3 Petty cash on hand at August 31 is $310.4 The bookkeeper improperly entered one check in the books as $146.50. It was written for $164.50 to payfor supplies. It cleared the bank during th month of August.Requirements:1 Prepare a Bank Reconcilation Schedule dated August 31, 2025.2 Prepare all Adjusting Journal Entries to make the book correct and complete.

1) Prepare the Bank Reconciliation Statement:

Deposits in transit at August 31 are $3,800. 2 Checks outstanding at August 31 total $1,050. B Petty cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books as $146.50. It was written for $164.50 to pay for supplies. It cleared the bank during th month of August. Requirements: Prepare a Bank Reconcilation Schedule dated August 31, 2025. Prepare all Adjusting Journal Entries to make the book correct and complete.

Deposits in transit at August 31 are $3,800. 2 Checks outstanding at August 31 total $1,050. B Petty cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books as $146.50. It was written for $164.50 to pay for supplies. It cleared the bank during th month of August. Requirements: Prepare a Bank Reconcilation Schedule dated August 31, 2025. Prepare all Adjusting Journal Entries to make the book correct and complete.

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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