[The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $15,804 debit balance and its bank statement shows $15,859 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,407. 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 $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 $2,316 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-13 (Algo) Adjusting entries from bank reconciliation LO P3 Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is not complete. No Transaction General Journal Debit Credit 2 b. Collection expense 45 O Cash 45 O 3 C. Cash 9 Utilities expense 9

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
100%

What is incorrect here?

Available Options Are: Accounts Payable, Accounts Receivable, Advertising Expense, Cash, Cash Short And Over, Collection Expense, Computer Equiptment, Delivery Expense, Discounts Lost, Intrest Earned, Janitorial Expenses, Merchandise Inventory, Mileage Expense, Micellaneous Expenses, Note Receivable, Office Supplies, Petty Cash, Postage Expense, Printing Expense, Rent Expense, Repairs Expense - Computer, Utilities Expense.

Use the following information for the Exercises 12-13 below. (Algo)
[The following information applies to the questions displayed below.]
Del Gato Clinic's cash account shows an $15,804 debit balance and its bank statement shows $15,859 on deposit at the
close of business on June 30.
a. Outstanding checks as of June 30 total $2,407.
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 $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 $2,316 were placed in the bank's night depository after banking hours and were not
recorded on the June 30 bank statement.
Exercise 6-13 (Algo) Adjusting entries from bank reconciliation LO P3
Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is
required for a transaction/event, select "No journal entry required" in the first account field.)
X Answer is not complete.
No
Transaction
General Journal
Debit
Credit
2
b.
Collection expense
45
Cash
45
3
C.
Cash
Utilities expense
Transcribed Image Text:Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $15,804 debit balance and its bank statement shows $15,859 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,407. 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 $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 $2,316 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-13 (Algo) Adjusting entries from bank reconciliation LO P3 Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is not complete. No Transaction General Journal Debit Credit 2 b. Collection expense 45 Cash 45 3 C. Cash Utilities expense
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education