EXERCISE 7-8 Showr below is the information needed to prepare a bank reconciliation for Data Bank Reconcil- Flow, Inc., at December 31. iation and En- At December 31, cash per the bank statement was $15,981; cash ny's records was $17,445. 2 Two debit memoranda accompanied the bank statcment: servicc charges for December of $24, and a $600 check drawn by Jane Jones marked "NSF." 1 trles to Update the Accounting Records per the compa- 3 Cash receipts of $4,353 on December 31 were not deposited until January. 4 The following checks had been issued in December but were not included among the paid checks returned by the bank: no. 620 for $978, no. 630 for $2,052, and no. 641 for $483. INSTRUCTIONS a Prepare a bank reconciliation at December 31. b Prepare the necessary journal entry or entries to update the accounting records of Data Flow, Inc.

EXERCISE 7-8 Showr below is the information needed to prepare a bank reconciliation for Data Bank Reconcil- Flow, Inc., at December 31. iation and En- At December 31, cash per the bank statement was $15,981; cash ny's records was $17,445. 2 Two debit memoranda accompanied the bank statcment: servicc charges for December of $24, and a $600 check drawn by Jane Jones marked "NSF." 1 trles to Update the Accounting Records per the compa- 3 Cash receipts of $4,353 on December 31 were not deposited until January. 4 The following checks had been issued in December but were not included among the paid checks returned by the bank: no. 620 for $978, no. 630 for $2,052, and no. 641 for $483. INSTRUCTIONS a Prepare a bank reconciliation at December 31. b Prepare the necessary journal entry or entries to update the accounting records of Data Flow, Inc.

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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