The following data apply to ABC Quality Goods for May Year 1: • Balance per the bank on May 31: $11,220 and book balance, May 31, Year 1 $ 11,718 . Deposits in transit not recorded by the bank: $2,470. • Bank error, cheque written by Best Beauty Supply was charged to ABC Quality Goods's account: $800. The following cheques written and recorded by ABC Quality Goods were not included in the bank statement: Ch No. Amount 3013 3054 165 510 3056 1,780 Note collected by the bank: $750. Service charge for collection of note: $21. The bookkeeper recorded a cheque written for $634 to pay for the May utilities expense as $544 in the cash disbursements jou Bank service charge in addition to the note collection fee: $45. Customer cheques returned by the bank as NSF: $177. Prepare a bank reconciliation statement for ABC Quality Goods as on 31 May.
The following data apply to ABC Quality Goods for May Year 1: • Balance per the bank on May 31: $11,220 and book balance, May 31, Year 1 $ 11,718 . Deposits in transit not recorded by the bank: $2,470. • Bank error, cheque written by Best Beauty Supply was charged to ABC Quality Goods's account: $800. The following cheques written and recorded by ABC Quality Goods were not included in the bank statement: Ch No. Amount 3013 3054 165 510 3056 1,780 Note collected by the bank: $750. Service charge for collection of note: $21. The bookkeeper recorded a cheque written for $634 to pay for the May utilities expense as $544 in the cash disbursements jou Bank service charge in addition to the note collection fee: $45. Customer cheques returned by the bank as NSF: $177. Prepare a bank reconciliation statement for ABC Quality Goods as on 31 May.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Question 2a
The following data apply to ABC Quality Goods for May Year 1:
• Balance per the bank on May 31: $11,220 and book balance, May 31, Year 1 $ 11,718
● Deposits in transit not recorded by the bank: $2,470.
• Bank error, cheque written by Best Beauty Supply was charged to ABC Quality Goods's account: $800.
The following cheques written and recorded by ABC Quality Goods were not included in the bank statement:
Ch No. Amount
3013
165
3054 510
3056 1,780
Note collected by the bank: $750.
Service charge for collection of note: $21.
• The bookkeeper recorded a cheque written for $634 to pay for the May utilities expense as $544 in the cash disbursements journal.
Bank service charge in addition to the note collection fee: $45.
Customer cheques returned by the bank as NSF: $177.
Prepare a bank reconciliation statement for ABC Quality Goods as on 31 May..
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