werow abboro IIA a 31. Decreased the petty cash fund by $100.usted balance:Ddgerbalance:om cash sales was $18,780.InstructionsJournalize the transactions.PR 8-3A Bank reconciliation and entries THOMOBJ. 5The cash account for Capstone Medical Co. at November 30, 2016, indicated a balanceof $89,620. The bank statement indicated a balance of $128,660 on November 30, 2016.Comparing the bank statement and the accompanying canceled checks and memos withthe records revealed the following reconciling items:SS nuta. Checks outstanding totaled $32,700.b. A deposit of $18,550, representing receipts of November 30, had been made too lateto appear on the bank statement.c. The bank collected $26,750 on a $25,000 note, including interest of $1,750.d.A check for $1,500 returned with the statement had been incorrectly recorded byCapstone Medical Co. as $150. The check was for the payment of an obligation toABC Supply Co. for a purchase on account.oll bede. A check drawn for $490 had been erroneously charged by the bank as $940.f. Bank service charges for November amounted to $60.Instructions1. Prepare a bank reconciliation.2. Journalize the necessary entries. The accounts have not been closed.3. If a balance sheet were prepared for Capstone Medical Co. on November 30, 2016,what amount should be reported as cash?PR 8-4A Bank reconciliation and entriesOBJ. 5The cash account for Brentwood Bike Co. at May 1, 2016, indicated a balance of $34,250.During May, the total cash deposited was $140,300, and checks written totaled $138,880.The bank statement indicated a balance of $43,525 on May 31. Comparing the bank state-the accompanying memos with the records revealed the

S the transactions. ank reconciliation and entries OBJ. 5 Ecount for Capstone Medical Co. at November 30, 2016, indicated a balance The bank statement indicated a balance of $128,660 on November 30, 2016. the bank statement and the accompanying canceled checks and memos with revealed the following reconciling items: outstanding totaled $32,700. t of $18,550, representing receipts of November 30, had been made too late on the bank statement. x collected $26,750 on a $25,000 note, including interest of $1,750. for $1,500 returned with the statement had been incorrectly recorded by Medical Co. as $150. The check was for the payment of an obligation to ply Co. for a purchase on account. drawn for $490 had been erroneously charged by the bank as $940. vice charges for November amounted to $60. bank reconciliation. - the necessary entries. The accounts have not been closed. ce sheet were prepared for Capstone Medical Co. on November 30, 2016, -unt should be reported as cash?

S the transactions. ank reconciliation and entries OBJ. 5 Ecount for Capstone Medical Co. at November 30, 2016, indicated a balance The bank statement indicated a balance of $128,660 on November 30, 2016. the bank statement and the accompanying canceled checks and memos with revealed the following reconciling items: outstanding totaled $32,700. t of $18,550, representing receipts of November 30, had been made too late on the bank statement. x collected $26,750 on a $25,000 note, including interest of $1,750. for $1,500 returned with the statement had been incorrectly recorded by Medical Co. as $150. The check was for the payment of an obligation to ply Co. for a purchase on account. drawn for $490 had been erroneously charged by the bank as $940. vice charges for November amounted to $60. bank reconciliation. - the necessary entries. The accounts have not been closed. ce sheet were prepared for Capstone Medical Co. on November 30, 2016, -unt should be reported as cash?

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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