In June 30, 2023, ABC Company has the following information (Amounts in Saudi Riyal) Bank statement indicated a balance of 100,000 The cash general ledger account on that date shows a balance of 120,000 The ABC's accountant provided Additional information necessary for preparing the ABC's reconciliation statement: • A 10,000 check sent to the bank for deposit but has not yet reached the bank at the statement date. The bank returned a customer's NSF check for 26,000 received as payment on account receivable. A 500 deposit by Z. Company was erroneously credited to ABC account by the bank. The bank statement showed 500 interest earned during June. Outstanding checks totalled 15,000. . . . . Required: a. Prepare a June 30 bank reconciliation statement for ABC Company. Brenare adiusting entries
In June 30, 2023, ABC Company has the following information (Amounts in Saudi Riyal) Bank statement indicated a balance of 100,000 The cash general ledger account on that date shows a balance of 120,000 The ABC's accountant provided Additional information necessary for preparing the ABC's reconciliation statement: • A 10,000 check sent to the bank for deposit but has not yet reached the bank at the statement date. The bank returned a customer's NSF check for 26,000 received as payment on account receivable. A 500 deposit by Z. Company was erroneously credited to ABC account by the bank. The bank statement showed 500 interest earned during June. Outstanding checks totalled 15,000. . . . . Required: a. Prepare a June 30 bank reconciliation statement for ABC Company. Brenare adiusting entries
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:In June 30, 2023, ABC Company has the following information (Amounts in Saudi Riyal)
Bank statement indicated a balance of 100,000
The cash general ledger account on that date shows a balance of 120,000
The ABC's accountant provided Additional information necessary for preparing the ABC's
reconciliation statement:
A 10,000 check sent to the bank for deposit but has not yet reached the bank at the
statement date.
The bank returned a customer's NSF check for 26,000 received as payment on account
receivable.
• A 500 deposit by Z. Company was erroneously credited to ABC account by the bank.
The bank statement showed 500 interest earned during June.
• Outstanding checks totalled 15,000.
Required:
a. Prepare a June 30 bank reconciliation statement for ABC Company.
b. Prepare adjusting entries
.
.
.
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