The book balance in the checking account of Kyri Enterprises as of November 30 is $2,944. The bank statement shows an ending balance of $2,542. The following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 11/29 $116 11/30 183 Outstanding checks: No. 322 14 No. 324 118 No. 327 52 Unrecorded ATM withdrawal: 104 Bank service charge: 19 NSF check: 184 Error on Check No. 321 Checkbook shows it was for $53, but it was actually written for $33. Accounts Payable was debited. *Funds were withdrawn by Susan Kyri for personal use.

The book balance in the checking account of Kyri Enterprises as of November 30 is $2,944. The bank statement shows an ending balance of $2,542. The following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 11/29 $116 11/30 183 Outstanding checks: No. 322 14 No. 324 118 No. 327 52 Unrecorded ATM withdrawal: 104 Bank service charge: 19 NSF check: 184 Error on Check No. 321 Checkbook shows it was for $53, but it was actually written for $33. Accounts Payable was debited. *Funds were withdrawn by Susan Kyri for personal use.

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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