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Pyle Garage 629 Main Street HAZARD, GA 30321 Beginning balance 3/1/Year 2 Total deposits and other credits Total checks and other debits Ending balance 3/31/Year 2 Date March 1 March 5 March 6 1465 March 9 1466 March 10 1467 March 14 1468 March 19 1469 March 28 1470 Checks and Debits Check No. 1462 1463 1464 1465 1466 1467 DM 1468 BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Amount of Check $1,676 8,034 2,936 1,442 6,217 125 1,534 778 Amount $3,789 1,676 8,034 2,936 1,442 6,217 55 810 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year Amount of Check No. 1463 Deposit $6,539 1464 4,968 6,204 6,000 2,120 3,583 Date March 1 March 5 March 10 March 16 March 19 March 29 Deposits and Credits Date Amount $1,131 6,539 4,968 6,204 March 1 March 2 March 6 Account number 62-00062 March 31, Year 2 $9,063 30,048 24,959 14,152 March 12 March 17 March 22 CM 6,000 2,120 3,086 Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,077.

Pyle Garage 629 Main Street HAZARD, GA 30321 Beginning balance 3/1/Year 2 Total deposits and other credits Total checks and other debits Ending balance 3/31/Year 2 Date March 1 March 5 March 6 1465 March 9 1466 March 10 1467 March 14 1468 March 19 1469 March 28 1470 Checks and Debits Check No. 1462 1463 1464 1465 1466 1467 DM 1468 BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Amount of Check $1,676 8,034 2,936 1,442 6,217 125 1,534 778 Amount $3,789 1,676 8,034 2,936 1,442 6,217 55 810 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year Amount of Check No. 1463 Deposit $6,539 1464 4,968 6,204 6,000 2,120 3,583 Date March 1 March 5 March 10 March 16 March 19 March 29 Deposits and Credits Date Amount $1,131 6,539 4,968 6,204 March 1 March 2 March 6 Account number 62-00062 March 31, Year 2 $9,063 30,048 24,959 14,152 March 12 March 17 March 22 CM 6,000 2,120 3,086 Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,077.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street HAZARD, GA 30321 Beginning balance 3/1/Year 2 Total deposits and other credits Total checks and other debits Ending balance 3/31/Year 2 Checks and Debits Check No. 1462 1463 1464 1465 1466 1467 DM 1468 Date March 1 March 5 March 6 1463 1464 1465 March 9 1466 March 10 1467 1468 1469 1470 March 14 March 19 March 28 Amount of Check $1,676 8,034 Amount $3,789 1,676 8,034 2,936 1,442 6,217 125 1,534 778 2,936 1,442 6,217 55 810 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year 2: Amount of Check No. Deposit $6,539 4,968 Date March 1 March 5 March 10 March 16 March 19 March 29 Deposits and Credits Date Amount March 1 March 2 March 6 March 12 March 17 March 22 CM Account number 62-00062 March 31, Year 2 $9,063 30,048 24,959 14, 152 6,204 6,000 2,120 3,583 $1,131 6,539 4,968 6,204 6,000 2,120 3,086 Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,077.
Transcribed Image Text:The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street HAZARD, GA 30321 Beginning balance 3/1/Year 2 Total deposits and other credits Total checks and other debits Ending balance 3/31/Year 2 Checks and Debits Check No. 1462 1463 1464 1465 1466 1467 DM 1468 Date March 1 March 5 March 6 1463 1464 1465 March 9 1466 March 10 1467 1468 1469 1470 March 14 March 19 March 28 Amount of Check $1,676 8,034 Amount $3,789 1,676 8,034 2,936 1,442 6,217 125 1,534 778 2,936 1,442 6,217 55 810 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year 2: Amount of Check No. Deposit $6,539 4,968 Date March 1 March 5 March 10 March 16 March 19 March 29 Deposits and Credits Date Amount March 1 March 2 March 6 March 12 March 17 March 22 CM Account number 62-00062 March 31, Year 2 $9,063 30,048 24,959 14, 152 6,204 6,000 2,120 3,583 $1,131 6,539 4,968 6,204 6,000 2,120 3,086 Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,077.
Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,077. Show Transcribed Text Required A Required B Unadjusted Bank Balance, March 31, Year 2 Prepare the bank reconciliation for Pyle Garage at the end of March. (Negative amounts should be indicated with minus sign.) PYLE GARAGE Bank Reconciliation March 31, Year 2 True Cash Balance, March 31, Year 2 Unadjusted Book Balance, March 31, Year 2 True Cash Balance, March 31, Year 2 Show Transcribed Text Required A Required B Item No. 1. 2. 3. 4. 5. 6. < Required A Affect on the Cash Account 3 c < Required A $ Required B c Explain how the adjustments described above affect the cash account. (Select "Not affected" if there is no affect on the "Cash account".) 0 0 Required B 0 0 >
Transcribed Image Text:Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,131. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,077. Show Transcribed Text Required A Required B Unadjusted Bank Balance, March 31, Year 2 Prepare the bank reconciliation for Pyle Garage at the end of March. (Negative amounts should be indicated with minus sign.) PYLE GARAGE Bank Reconciliation March 31, Year 2 True Cash Balance, March 31, Year 2 Unadjusted Book Balance, March 31, Year 2 True Cash Balance, March 31, Year 2 Show Transcribed Text Required A Required B Item No. 1. 2. 3. 4. 5. 6. < Required A Affect on the Cash Account 3 c < Required A $ Required B c Explain how the adjustments described above affect the cash account. (Select "Not affected" if there is no affect on the "Cash account".) 0 0 Required B 0 0 >
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