College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Chapter 11, Problem 3A
To determine
Explain the entries affect and difference of the interim
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Natalie decides that she cannot afford to hire John to do her accounting. One way that she can ensure that her cash account does not have any errors and is accurate and up-to-date is to prepare a bank reconciliation at the end of each month. Natalie would like you to help her. She asks you to prepare a bank reconciliation for June 2020 using the information below.Please refer to the image attached
Additionally, take the following information into account.
On June 30th, there were two outstanding checks: #595 for $238 and #604 for $297.
Premier Bank made a posting error to the bank statement: Check #603 was issued for $425, not $452.
The deposit made on June 20 was for $125, which Natalie received for teaching a class. Natalie made an error in recording this transaction.
The electronic funds transfer (EFT) was for Natalie’s cell phone use. Remember that she uses this phone only for business.
The NSF check was from Ron Black. Natalie received this check for teaching a class to Ron’s…
Natalie decides that she cannot afford to hire John to do her accounting. One way thatshe can ensure that her cash account does not have any errors and is accurate and upto-date is to prepare a bank reconciliation at the end of each month.Natalie would like you to help her. She asks you to prepare a bank reconciliation forJune 2020 using the following information.
A local bank began charging $4.80 each month for returning canceled checks. The bank also has an $10.75 "maintenance" fee if a
checking account slips below $750.00. Donna Sands likes to have copies of her canceled checks for preparing her income tax returns.
She has received her bank statement with a balance of $599.36. Donna received $4.18 in interest and has been charged for the
canceled checks and the maintenance fee. The following checks were outstanding: Number 94, $129.88; Number 96, $138.20;
Number 98, $229.24; and Number 99, $69.03. A deposit of $803.81 was not recorded on Donna's bank statement. Her checkbook
shows a balance of $848.19.
Prepare Donna's bank reconciliation.
Note: Input all amounts as positive values. Round your answers to 2 decimal places.
Donna's checkbook balance
Add:
Subtotal
Deduct:
Subtotal
Reconciled balance
BANK RECONCILIATION
Bank balance
Add:
Subtotal
Deduct:
Reconciled balance
Chapter 11 Solutions
College Accounting (Book Only): A Career Approach
Ch. 11 - Which of the following is the adjusting entry for...Ch. 11 - The adjusting entry for unearned revenue pertains...Ch. 11 - An account that has unearned in its name is...Ch. 11 - This type of inventory system does not require an...Ch. 11 - The Supplies account has a 1,400 balance. A...Ch. 11 - Prob. 6QYCh. 11 - Prob. 7QYCh. 11 - What is a physical inventory? What does the word...Ch. 11 - Prob. 2DQCh. 11 - Using the perpetual inventory system, what account...
Ch. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - Why is it necessary to adjust the Merchandise...Ch. 11 - A merchandising company shows 8,842 in the...Ch. 11 - Prob. 8DQCh. 11 - Prob. 1ECh. 11 - On October 31, the Vermillion Igloos Hockey Club...Ch. 11 - Basga Company uses the periodic inventory system....Ch. 11 - Prob. 4ECh. 11 - Journalize the required adjusting entries for the...Ch. 11 - On December 31, the end of the year, the...Ch. 11 - On December 31, Marchant Company took a physical...Ch. 11 - The trial balance of Hadden Company as of December...Ch. 11 - The balances of the ledger accounts of Beldren...Ch. 11 - Prob. 3PACh. 11 - Here are the accounts in the ledger of Mishas...Ch. 11 - A portion of Anderson Publishings work sheet for...Ch. 11 - The trial balance of Jillson Company as of...Ch. 11 - The balances of the ledger accounts of Pelango...Ch. 11 - Prob. 3PBCh. 11 - The accounts and their balances in the ledger of...Ch. 11 - A portion of Johnsons Farm Supply work sheet for...Ch. 11 - BURTS BEES, Durham, North Carolina Burts Bees...Ch. 11 - Prob. 2ACh. 11 - Prob. 3ACh. 11 - Prob. 4ACh. 11 - Prob. 5ACh. 11 - Prob. 1CP
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