P8-7 Preparing a bank reconciliation and journal entries [20-25 min] This problem continues the Draper Consulting situation from Problem 7-6 of Chapter 7. Drape performs systems consulting. Draper's February Cash from its general ledger is as follows: Cash Jan 31 Bal Feb 6 Feb 13 Feb 20 Feb 27 Feb 1 Feb 14 Feb 14 Feb 28 Feb 28 Chq 207 Chq 208 Chq 209 Chq 210 Chq 211 23 115 2 930 4 300 825 1 455 190 550 2 800 4 800 3 690 Feb 28 Unadj. Bal 30 015 Draper's bank statement dated 28 February 2016, follows: BANK STATEMENT FOR FEBRUARY 2016 Beginning balance, 31 January 2016 Deposits and other credits: $23 510 Feb 1 $ 700 Feb 8 2 930 Feb 14 2 800 Feb 20 EFT Hip Hop Hats-a customer 400 Feb 22 4 800 Feb 28 Interest credit 22 11 652 Cheques and other debits: Feb 2 EFT to Paper Products 9. 1 095 Feb 2 chq206 Feb 18 chq207 4 300 Feb 19 chq209 1 455

P8-7 Preparing a bank reconciliation and journal entries [20-25 min] This problem continues the Draper Consulting situation from Problem 7-6 of Chapter 7. Drape performs systems consulting. Draper's February Cash from its general ledger is as follows: Cash Jan 31 Bal Feb 6 Feb 13 Feb 20 Feb 27 Feb 1 Feb 14 Feb 14 Feb 28 Feb 28 Chq 207 Chq 208 Chq 209 Chq 210 Chq 211 23 115 2 930 4 300 825 1 455 190 550 2 800 4 800 3 690 Feb 28 Unadj. Bal 30 015 Draper's bank statement dated 28 February 2016, follows: BANK STATEMENT FOR FEBRUARY 2016 Beginning balance, 31 January 2016 Deposits and other credits: $23 510 Feb 1 $ 700 Feb 8 2 930 Feb 14 2 800 Feb 20 EFT Hip Hop Hats-a customer 400 Feb 22 4 800 Feb 28 Interest credit 22 11 652 Cheques and other debits: Feb 2 EFT to Paper Products 9. 1 095 Feb 2 chq206 Feb 18 chq207 4 300 Feb 19 chq209 1 455

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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