The following information for the month of March is available from Butters Cookies, Inc.'s accounting records:Balance per bank statement, March 31, 2020$12,100Cash balance per books, March 31, 202015,295Deposit made on February 28; recorded by bank on March 33,600March 31, 2016, outstanding checks: #2346438#2348231#2355107Bank service charge for March (not recorded yet by Butters)54NSF check of customer returned by bank with March statement832A check drawn on Moore Company was erroneously charged to Butters275A $347 check to a supplier in payment of account was erroneously recorded on Batters' books as $437?Deposit made on March 31, recorded by bank on April 32,900 Required:a.Prepare a March 31, 2020, bank reconciliation.b.Prepare any related adjusting entries that are necessary on March 31, 2020.

Solution a: Butters Cookies Inc. Bank Reconciliation - March 31 Bank's Cash balance Company's…

Answered: The following information for the month…

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 information for the month of March is available from Butters Cookies, Inc.'s accounting records:

Balance per bank statement, March 31, 2020	$12,100
Cash balance per books, March 31, 2020	15,295
Deposit made on February 28; recorded by bank on March 3	3,600
March 31, 2016, outstanding checks:
#2346	438
#2348	231
#2355	107
Bank service charge for March (not recorded yet by Butters)	54
NSF check of customer returned by bank with March statement	832
A check drawn on Moore Company was erroneously charged to Butters	275
A $347 check to a supplier in payment of account was erroneously recorded on Batters' books as $437	?
Deposit made on March 31, recorded by bank on April 3	2,900

	Required:
a.	Prepare a March 31, 2020, bank reconciliation.
b.	Prepare any related adjusting entries that are necessary on March 31, 2020.

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