The bank reconciliation shows the following adjustments:• Deposits in transit: $882• Notes receivable collected by bank: $1,040; interest:$35• Outstanding checks: $580• Error by bank: $310• Bank charges: $40Prepare the correcting journal entries. If an amount boxdoes not require an entry, leave it blank.Accounts PayableAccounts ReceivableBank Service ChargesCashInterest IncomeII IIII II A. Started a petty cash fund in the amount of $300.B. Replenished petty cash fund using the followingexpenses: Auto Expense $20, Office Expense $60,Postage Expense $60, Miscellaneous Expense $75. Cashon hand is $85.C. Increased petty cash by $150.Record these transactions. If an amount box does notrequire an entry, leave it blank.А.В.С.Auto ExpenseCashOffice ExpensePetty CashPostage ExpenseII IIIII II

Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

The bank reconciliation shows the following adjustments: • Deposits in transit: $882 • Notes receivable collected by bank: $1,040; interest: $35 • Outstanding checks: $580 • Error by bank: $310 • Bank charges: $40 Prepare the correcting journal entries. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Bank Service Charges Cash Interest Income

The bank reconciliation shows the following adjustments: • Deposits in transit: $882 • Notes receivable collected by bank: $1,040; interest: $35 • Outstanding checks: $580 • Error by bank: $310 • Bank charges: $40 Prepare the correcting journal entries. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Bank Service Charges Cash Interest Income

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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The following bank reconciliation has been prepared. Balance per bank statement (overdrawn) 73,680 Add: Outstanding lodgements 102,480 (87,240) Less: Outstanding cheques Balance cash book (credit) 88.920 per Assuming the amounts stated for items other than the cash book balance are correct what should the cash book balance be? A. $88 920 credit (as stated) B. O $120,040 credit C. $58.440 credit D. $58 440 debit
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The bank reconciliation shows the following adjustments: Deposits in transit: $882 Notes receivable collected by bank: $1,040; interest: $45 Outstanding checks: $580 Error by bank: $330 Bank charges: $40 Prepare the correcting journal entries. If an amount box does not require an entry, leave it blank.
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