1:59College Accounting.....Jun 1Jun 2# 580$2,275.00$12,115.00# 581$135.00$11,980.00# 577Jun 3$1,500,00$10,480.00$1,137.45$75.00# 582Jun 4Jun 4$2,456.00 $11,798.55# 586Jun 17Jun 17 $2,345.25 $14,068.80$13,944.05#587Jun 20$124.75#585Jun 28$745.65$13,198.40NSFJun 28$255,45$12,942.95NSF chargeService Charge Jun 30Jun 28$15.00$12,927.95$45.50$12,882.45RequiredPrepare a bank reconciliation at June 30, 2023. Assume that any errors weremade by the bookkeeper and Cheque #585 was for office supplies.GROUP B PROBLEMS(Excel templates for all questions are available in Mylab Accounting)Preparing a bank reconciliation,including collection of a noteO (20 min)P9-18. As the bookkeeper of Rose Company of Drumheller, you received the bank state-ment from TD Canada Trust indicating a balance of $5,820. The ending cheque-book balance was $6,321. Prepare the bank reconciliation for Rose Company as ofJuly 31, 2023, and prepare journal entries as needed based on the following:Chok Figea. Deposits in transit, $2,875.b. Bank service charges, $24.c. Cheques outstanding: No. 111, $478; No. 115, $1,147.Reconciled balance $7,630d. TD Canada Trust collected a note for Rose, $1,770, less a $12 collection fee.e. NSF cheque, $525.f. Rose Company records cheque No. 107 as $900 to pay the month's rent. Thecancelled cheque and bank statement show the actual cheque was $800.g The bank made an error by deducting a cheque for $560 issued by anotherbusiness.P9-28. Several source documents from RJ's Tax Services are presented belo. AdditionalPreparing a bank reconciliationwith an NSF chequeinformation is as follows.O 40 min)a. The PMT on September 29 was a loan payment taken out of RJ's Tax Servicesaccount in error due to a bank clerk's mistake.Chk Figeb. Cheque No. 674 was a payment for insurance to B. Brubacher Brokers. Thebookkeeper recorded it as $690 in error.c. The NSF cheque was in payment of an accounts receivable balance owed byVinny Vanelswyk.Reconciled balance $4,441448CHAPTER 9RJ's Tax ServicesBank ReconciliationAugust 31, 2023Unadjusted Cash G/LBank Statement Balance$3,000Balance$3,351Add:Deposits in transit(Aug 29)1,5004.500Deduct: Outstanding chequesNo. 669 600No. 670 5491,149Adjusted Cash G/LBalanceAdjusted Bank Balance$3,351$3,351Bank Statement for the month ending September 30, 2023Cheques/ChargesReferenceDeposits/CreditsBalanceDateAwonnt ReferenceDateAwonntAug 31Sep 1BAL$3,000#669S600DEPSep 11,5003,900#6713,650Sep 4Sep 5250#674600DEPSep 5Sep 17Sep 228003,850DEP5004,350NSFSep 22300DEP7004,750PMTSep 294004,350S/C4,365Sep 30Sep 3035INTSep 3050BAL$4,365General Ledger Cash AccountDateExplanationDebitCreditBalanceAug 31Balance$3,351Sep. 30Cash Receipts3,5006,851Sep. 30Cash Disbursements2,2154,636Deposits MadeCheques Written

Hi student Since there are multiple questions, we will answer only first question.

ENcel ter ons P9-18. As the bookkeeper of Rose Company of Drumheller, you received the bank state- ment from TD Canada Trust indicating a balance of $5,820. The ending cheque- book balance was $6,321. Prepare the bank reconciliation for Rose Company as of July 31, 2023, and prepare journal entries as needed based on the following a. Deposits in transit, $2,875. b. Bank service charges, $24. c. Cheques outstanding No. 111, $478; No. 115, $1,147. d. TD Canada Trust collected a note for Rose, $1,770, less a $12 collection fee. e. NSF cheque, $525. f. Rose Company records cheque No. 107 as $900 to pay the month's rent. The cancelled cheque and bank statement show the actual cheque was $800. g The bank made an error by deducting a cheque for $560 issued by another business.

ENcel ter ons P9-18. As the bookkeeper of Rose Company of Drumheller, you received the bank state- ment from TD Canada Trust indicating a balance of $5,820. The ending cheque- book balance was $6,321. Prepare the bank reconciliation for Rose Company as of July 31, 2023, and prepare journal entries as needed based on the following a. Deposits in transit, $2,875. b. Bank service charges, $24. c. Cheques outstanding No. 111, $478; No. 115, $1,147. d. TD Canada Trust collected a note for Rose, $1,770, less a $12 collection fee. e. NSF cheque, $525. f. Rose Company records cheque No. 107 as $900 to pay the month's rent. The cancelled cheque and bank statement show the actual cheque was $800. g The bank made an error by deducting a cheque for $560 issued by another business.

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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