Problem 7.8A The Cash account in the general ledger of Hendry Corporation show a balance of $96,990 at 31 December 2013 (prior to performing a bank reconciliation). The compan's bank statement shows a balance of $100,560 at the same datc. An examination of the bank statement reveals the following: . Deposits in transit amount to $24,600 Bank service charges total $200. 3. Outstanding checks total $31,700 A $3,600 check marked "NSF" from Kent Company (one of Hendry Corporation's customers) was returned to Hendry Corporation by the bank. This was the only NSF check that Hendry Corporation received during 2013 5. A canceled check (no. 244) written by Hendry Corporation in the amount of $1,250 for office equipment was incorrectly recorded in the general ledger as a debit to Office Equipment of $1,520, and a credit to Cash of $1,520 2. 4. Prepare Hendry Corporation's bank reconciliation dated 31 December 2013, and provide the a. journal entry necessary to update the company 's general ledger balance . .
Problem 7.8A The Cash account in the general ledger of Hendry Corporation show a balance of $96,990 at 31 December 2013 (prior to performing a bank reconciliation). The compan's bank statement shows a balance of $100,560 at the same datc. An examination of the bank statement reveals the following: . Deposits in transit amount to $24,600 Bank service charges total $200. 3. Outstanding checks total $31,700 A $3,600 check marked "NSF" from Kent Company (one of Hendry Corporation's customers) was returned to Hendry Corporation by the bank. This was the only NSF check that Hendry Corporation received during 2013 5. A canceled check (no. 244) written by Hendry Corporation in the amount of $1,250 for office equipment was incorrectly recorded in the general ledger as a debit to Office Equipment of $1,520, and a credit to Cash of $1,520 2. 4. Prepare Hendry Corporation's bank reconciliation dated 31 December 2013, and provide the a. journal entry necessary to update the company 's general ledger balance . .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Problem 7.8A
The Cash account in the general ledger of Hendry Corporation show a balance
of $96,990 at 31 December 2013 (prior to performing a bank reconciliation). The compan's bank
statement shows a balance of $100,560 at the same datc. An examination of the bank statement
reveals the following:
. Deposits in transit amount to $24,600
Bank service charges total $200.
3. Outstanding checks total $31,700
A $3,600 check marked "NSF" from Kent Company (one of Hendry Corporation's customers)
was returned to Hendry Corporation by the bank. This was the only NSF check that Hendry
Corporation received during 2013
5. A canceled check (no. 244) written by Hendry Corporation in the amount of $1,250 for office
equipment was incorrectly recorded in the general ledger as a debit to Office Equipment of
$1,520, and a credit to Cash of $1,520
2.
4.
Prepare Hendry Corporation's bank reconciliation dated 31 December 2013, and provide the
a.
journal entry necessary to update the company 's general ledger balance
. .](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F914d41c8-cce5-4f08-bf63-ddc68ed2d765%2F3112cd9d-a949-419a-8bf4-b1ab05996d8e%2F09xinx8.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 7.8A
The Cash account in the general ledger of Hendry Corporation show a balance
of $96,990 at 31 December 2013 (prior to performing a bank reconciliation). The compan's bank
statement shows a balance of $100,560 at the same datc. An examination of the bank statement
reveals the following:
. Deposits in transit amount to $24,600
Bank service charges total $200.
3. Outstanding checks total $31,700
A $3,600 check marked "NSF" from Kent Company (one of Hendry Corporation's customers)
was returned to Hendry Corporation by the bank. This was the only NSF check that Hendry
Corporation received during 2013
5. A canceled check (no. 244) written by Hendry Corporation in the amount of $1,250 for office
equipment was incorrectly recorded in the general ledger as a debit to Office Equipment of
$1,520, and a credit to Cash of $1,520
2.
4.
Prepare Hendry Corporation's bank reconciliation dated 31 December 2013, and provide the
a.
journal entry necessary to update the company 's general ledger balance
. .
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