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The following information is available for the Tierney Company for the month of November. • On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $28,602. . The company's bank statement shows a balance on November 30 of $31,029. • Outstanding checks at November 30 include check #3030 in the amount of $1,875 and check # 3556 in the amount of $1,59 • Included with the bank statement was a credit memo in the amount of $910 for an EFT in payment of a customer's account. . The bank deducted $137 for an NSF check from a customer deposited on November 22. ● A deposit placed in the bank's night depository on November 30 totaled $1,885 and did not appear on the bank statement. • Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,730, but was recorded in the accounting records as $2,890. . Included with the bank statement was a debit memorandum in the amount of $95 for bank service charges. Required: Prepare a bank reconciliation for Tierney Company as of November 30.

The following information is available for the Tierney Company for the month of November. • On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $28,602. . The company's bank statement shows a balance on November 30 of $31,029. • Outstanding checks at November 30 include check #3030 in the amount of $1,875 and check # 3556 in the amount of $1,59 • Included with the bank statement was a credit memo in the amount of $910 for an EFT in payment of a customer's account. . The bank deducted $137 for an NSF check from a customer deposited on November 22. ● A deposit placed in the bank's night depository on November 30 totaled $1,885 and did not appear on the bank statement. • Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,730, but was recorded in the accounting records as $2,890. . Included with the bank statement was a debit memorandum in the amount of $95 for bank service charges. Required: Prepare a bank reconciliation for Tierney Company as of November 30.

FINANCIAL ACCOUNTING
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 is available for the Tierney Company for the month of November. • On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $28,602. • The company's bank statement shows a balance on November 30 of $31,029. Outstanding checks at November 30 include check #3030 in the amount of $1,875 and check # 3556 in the amount of $1,599 Included with the bank statement was a credit memo in the amount of $910 for an EFT in payment of a customer's account. The bank deducted $137 for an NSF check from a customer deposited on November 22. • A deposit placed in the bank's night depository on November 30 totaled $1,885 and did not appear on the bank statement. Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,730, but was recorded in the accounting records as $2,890. . Included with the bank statement was a debit memorandum in the amount of $95 for bank service charges. Required: Prepare a bank reconciliation for Tierney Company as of November 30. ● Tierney Company Bank Reconciliation At November 30
Transcribed Image Text:The following information is available for the Tierney Company for the month of November. • On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $28,602. • The company's bank statement shows a balance on November 30 of $31,029. Outstanding checks at November 30 include check #3030 in the amount of $1,875 and check # 3556 in the amount of $1,599 Included with the bank statement was a credit memo in the amount of $910 for an EFT in payment of a customer's account. The bank deducted $137 for an NSF check from a customer deposited on November 22. • A deposit placed in the bank's night depository on November 30 totaled $1,885 and did not appear on the bank statement. Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,730, but was recorded in the accounting records as $2,890. . Included with the bank statement was a debit memorandum in the amount of $95 for bank service charges. Required: Prepare a bank reconciliation for Tierney Company as of November 30. ● Tierney Company Bank Reconciliation At November 30
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