ompany has asked you to prepare bank makes bank eposits after hours in the bank's night depository. You review Zeal's May bank reconciliation (i.e., not provided here) and you onsider that as of May 31st check #2228 for $1,100 and check # 2231 for $1,650 both written by Zeal in April had not cleared the ank as of the end of May. Additionally, a May 31st deposit, made by Zeal in the amount of $3,200 was not reported on the May bank tatement. Leal has provided the company's general ledger activity for June and the bank's June statement below. Zeal Company's Accounting Records: Checks recorded (by Zeal) in June: Check # 2234 $4,400 Check # 2235 3,300 Check #2236 985 Check # 2237 125 1,560 Check # 2238 Check #2239 1.800 Check #2240 350 Check # 2241 1,920 $14.440 Main Street Bank's June Statement Checks Paid by Main Street Bank (from Zeal's account) in June: Check #2228 Check # 2234 Check #2236 Check # 2237 Check # 2238 Check # 2241 $1,100 4,400 859 $18 800 125 1.560 1.920 $9.964 Other June Bank activity not reported above: (i) Service Charge (ii) NSF Check (*) Deposits recorded (by Zeal) in June: June 2 June 11 June 16 June 27 June 30 Total (iii) Interest Income (iv) Note Collection $4,400 1.900 2,800 1,600 2,200 $12,900 $12 1,350 General Ledger: Cash Monies deposited at Main Street Bank (by Zeal) in June: June 1 June 3 June 12 June 17 June 28 ? 12.900 ? $3,200 4,400 1,900 2,800 1,600 $13,900 Summary of June Bank Activity: 5/31st balance $12.000 Increases 15,262 Decreases (10,782) 6/30th balance $16,480 14.440 Consider the information provided above & select the answer below that correctly shows the outstanding checks for the June bank econciliation (the (*) shown above by check #2236 is explained in the next question). A. $7,100 B. $5,450 C. $8,200 D. $2,750 E. NOTA
ompany has asked you to prepare bank makes bank eposits after hours in the bank's night depository. You review Zeal's May bank reconciliation (i.e., not provided here) and you onsider that as of May 31st check #2228 for $1,100 and check # 2231 for $1,650 both written by Zeal in April had not cleared the ank as of the end of May. Additionally, a May 31st deposit, made by Zeal in the amount of $3,200 was not reported on the May bank tatement. Leal has provided the company's general ledger activity for June and the bank's June statement below. Zeal Company's Accounting Records: Checks recorded (by Zeal) in June: Check # 2234 $4,400 Check # 2235 3,300 Check #2236 985 Check # 2237 125 1,560 Check # 2238 Check #2239 1.800 Check #2240 350 Check # 2241 1,920 $14.440 Main Street Bank's June Statement Checks Paid by Main Street Bank (from Zeal's account) in June: Check #2228 Check # 2234 Check #2236 Check # 2237 Check # 2238 Check # 2241 $1,100 4,400 859 $18 800 125 1.560 1.920 $9.964 Other June Bank activity not reported above: (i) Service Charge (ii) NSF Check (*) Deposits recorded (by Zeal) in June: June 2 June 11 June 16 June 27 June 30 Total (iii) Interest Income (iv) Note Collection $4,400 1.900 2,800 1,600 2,200 $12,900 $12 1,350 General Ledger: Cash Monies deposited at Main Street Bank (by Zeal) in June: June 1 June 3 June 12 June 17 June 28 ? 12.900 ? $3,200 4,400 1,900 2,800 1,600 $13,900 Summary of June Bank Activity: 5/31st balance $12.000 Increases 15,262 Decreases (10,782) 6/30th balance $16,480 14.440 Consider the information provided above & select the answer below that correctly shows the outstanding checks for the June bank econciliation (the (*) shown above by check #2236 is explained in the next question). A. $7,100 B. $5,450 C. $8,200 D. $2,750 E. NOTA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Q#7: Zeal Company has asked you to prepare the company's June bank reconciliation. Please know that Zeal always makes bank
deposits after hours in the bank's night depository. You review Zeal's May bank reconciliation (i.e., not provided here) and you
consider that as of May 31st check #2228 for $1,100 and check # 2231 for $1,650 both written by Zeal in April had not cleared the
bank as of the end of May. Additionally, a May 31st deposit, made by Zeal in the amount of $3,200 was not reported on the May bank
statement.
Zeal has provided the company's general ledger activity for June and the bank's June statement below.
Zeal Company's Accounting Records:
Checks recorded (by Zeal) in June:
Check # 2234 $4,400
Check #2235
3.300
Check #2236
985
125
1,560
1,800
350
1.920
$14.440
Check #2237
Check #2238
Check #2239
Check #2240
Check #2241
Main Street Bank's June Statement
Checks Paid by Main Street Bank
(from Zeal's account) in June:
Check #2228 $1,100
Check # 2234 4,400
Check #2236 859
Check #2237 125
Check #2238
1,560
Check #2241
1.920
$9.964
Other June Bank activity not reported above:
(i) Service Charge
(ii) NSF Check
$18
800
C
Deposits recorded (by Zeal) in June:
June 2
June 11
June 16
June 27
June 30
Total
(iii) Interest Income
(iv) Note Collection
$4,400
1,900
2,800
1,600
2.200
$12,900
$12
1,350
General Ledger:
Cash
Monies deposited at Main Street Bank
(by Zeal) in June:
June 1
June 3
June 12
June 17
June 28
?
12,900 14,440
?
$3,200
4,400
1,900
2,800
1.600
$13.900
Summary of June Bank Activity:
5/31st balance $12,000
Increases 15,262
Decreases (10,782)
6/30th balance $16,480
Consider the information provided above & select the answer below that correctly shows the outstanding checks for the June bank
reconciliation (the (*) shown above by check #2236 is explained in the next question).
A. $7,100 B. $5,450 C. $8,200 D. $2,750 E. NOTA
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