Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $13,907 debit balance and its bank statement shows $13,456 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,888. b. The June 30 bank statement lists a $45 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $498. d. The June 30 cash receipts of $2,303 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. DEL GATO CLINIC Bank Reconciliation June 30 Bank statement balance Add: $ 13,456 Book balance Add: Deduct: 0 13,456 Deduct: 0 0 0 0 Adjusted bank balance $ 13,456 Adjusted book balance $ 0

Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $13,907 debit balance and its bank statement shows $13,456 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,888. b. The June 30 bank statement lists a $45 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $498. d. The June 30 cash receipts of $2,303 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. DEL GATO CLINIC Bank Reconciliation June 30 Bank statement balance Add: $ 13,456 Book balance Add: Deduct: 0 13,456 Deduct: 0 0 0 0 Adjusted bank balance $ 13,456 Adjusted book balance $ 0

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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Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $14,088 debit balance and its bank statement shows $13,938 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,100. b. The June 30 bank statement lists a $100 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,159 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Denneit of lung 20 $ DEL GATO CLINIC Bank Reconciliation June 30 13,938 Book balance Add: Error on Chart Number 010 $ 14,088
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Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $15,619 debit balance and its bank statement shows $15,239 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,083. b. The June 30 bank statement lists a $90 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $698. d. The June 30 cash receipts of $2,382 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Deduct Adjusted bank balance i DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct Adjusted book balance
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The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $146,035. The bank statement indicated a balance of $181,965 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: A. Checks outstanding totaled $16,445. B. A deposit of $9,900, representing receipts of June 30, had been made too late to appear on the bank statement. C. The bank collected $31,800 on a $30,000 note, including interest of $1,800. D. A check for $2,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $200. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. E. A check drawn for $170 had been erroneously charged by the bank as $710. F. Bank service charges for June amounted to $75. 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer…
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