Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,220 Deposits during June $ 18,100 25,320 Checks cleared during June $ 19,200 6,120 Bank service charges $ 40 6,080 Balance, June 30 6,080 Cash (A) June 1 Balance 7,220 June Deposits 19,200 19,500 Checks written June June 30 Balance 6,920 How would i record the 40$ deducted by the bank for a service change?
Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,220 Deposits during June $ 18,100 25,320 Checks cleared during June $ 19,200 6,120 Bank service charges $ 40 6,080 Balance, June 30 6,080 Cash (A) June 1 Balance 7,220 June Deposits 19,200 19,500 Checks written June June 30 Balance 6,920 How would i record the 40$ deducted by the bank for a service change?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here:
| BANK STATEMENT | ||||||||||||
| Checks | Deposits | Other | Balance | |||||||||
| Balance, June 1 | $ | 7,220 | ||||||||||
| Deposits during June | $ | 18,100 | 25,320 | |||||||||
| Checks cleared during June | $ | 19,200 | 6,120 | |||||||||
| Bank service charges | $ | 40 | 6,080 | |||||||||
| Balance, June 30 | 6,080 | |||||||||||
| Cash (A) | |||||
| June 1 | Balance | 7,220 | |||
| June | Deposits | 19,200 | 19,500 | Checks written | June |
| June 30 | Balance | 6,920 |
How would i record the 40$ deducted by the bank for a service change?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education