Preparing a bank reconciliation and journal entries.Net Solutions' checkbook lists the following:Date Check ItemNo.Nov. 14 6229013 62314 62418 62526 62628 62730Quick MailingService Revenue®Photo SuppliesUtilitiesCashOffice SuppliesUpstate Reality Co.Service RevenueCheck Deposit BalancePP$15.55+756085265PPPP$540,525655600525-4653801151,210 1,325-$130-12 Net Solutions; banks statement shows the following:BalanceDepositsDebit ChecksOther chargesNo.622+623-624625-PAmount$15.55115*,60₂3520-$540-130,(245),Printed checksEFT,(55),Balance$370-*This is correct number for check number 624.Requirements1 Prepare the bank reconciliation for Net Solutions at Nov. 30,2021.2. Journalize any required entries from the bank reconciliation.12

Bank reconciliation statement - The amount of balance shown in the bank statement must tally with…

Net Solutions; banks statement shows the following: Balance Deposits Debit Checks Other charges No. 622- 623- 624- 625 Amount $15 55- 115* 60 $540- 130, 35- 20₂ (245), Printed checks > EFT, (55). Balance $370- *This is correct number for check number 624. Requirements 1 Prepare the bank reconciliation for Net Solutions at Nov. 30,2021. 2. Journalize any required entries from the bank reconciliation.

Net Solutions; banks statement shows the following: Balance Deposits Debit Checks Other charges No. 622- 623- 624- 625 Amount $15 55- 115* 60 $540- 130, 35- 20₂ (245), Printed checks > EFT, (55). Balance $370- *This is correct number for check number 624. Requirements 1 Prepare the bank reconciliation for Net Solutions at Nov. 30,2021. 2. Journalize any required entries from the bank reconciliation.

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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Requlred Informetion [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 ৪9, 938 88,970 88,470 88,520 88,370 Date Other Dec. 1 $ 7,620 558 $28, 000 13,900 11 17 23 36, e00 26 960 30 NSF* $300 50 19, 200 19, e00 31 Interest earned 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, e00 Deposits Dec. 11 23 Checks written during December: 7,620 28, 800 36, ee0 19,e00 13,e00 550 30 13,900 960 31 150 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Requlred: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $36,000 $19,000 $13,000 2. [dentify and list the outstanding checks at the end of December (Select all that apply.) $7,620 $550 $13,900 $880 $150 $19,200 $4,500 OOUI
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eBook Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $6,788 Book balance: $8,393 Deposits in transit: $1,735 Outstanding checks: $579 and $1,523 Bank service charges: $25 Bank incorrectly charged the account $25. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense.
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