Jim Patrick operates a roller skating center, Skatetown USA. He has just received the company's monthly bank statement at March 31 from Ringley National Bank, and the statement shows an ending balance of $710. Listed on the statement are an EFT rent collection of $315. a service charge of $10, two NSF checks totaling $100, and an $11 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $815 and a March 31 deposit in transit of $1,775. During March, he recorded a $210 check for the salary of a part-time employee as $21. Patrick's Cash account shows a March 31 cash balance of $1,865. Read the requirement. Prepare the Bank section, then the Book section of the bank reconciliation to determine how much cash Patrick actually has at March 31. (Include the balances at March 31 in each of the addition subtotal calculations. If an input field is not used in the table leave the field empty; do select a label or enter a zero.) Bank: Add: Subtotal Less Skatetown USA Bank Reconciliation March 31, 2021
Jim Patrick operates a roller skating center, Skatetown USA. He has just received the company's monthly bank statement at March 31 from Ringley National Bank, and the statement shows an ending balance of $710. Listed on the statement are an EFT rent collection of $315. a service charge of $10, two NSF checks totaling $100, and an $11 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $815 and a March 31 deposit in transit of $1,775. During March, he recorded a $210 check for the salary of a part-time employee as $21. Patrick's Cash account shows a March 31 cash balance of $1,865. Read the requirement. Prepare the Bank section, then the Book section of the bank reconciliation to determine how much cash Patrick actually has at March 31. (Include the balances at March 31 in each of the addition subtotal calculations. If an input field is not used in the table leave the field empty; do select a label or enter a zero.) Bank: Add: Subtotal Less Skatetown USA Bank Reconciliation March 31, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question is attached in SS below
thanks appreciated
o4i525
25245
4524
426i4kypho4khp
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
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