INTERM.ACCT.:REPORTING...-CENGAGENOWV2
3rd Edition
ISBN: 9781337909358
Author: WAHLEN
Publisher: CENGAGE L
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Chapter 6, Problem 21E
1.
To determine
Prepare a schedule to ascertain the cash balance of corporation G on August 3, before any required adjustment.
2.
To determine
Prepare a bank reconciliation to ascertain the cash balance of Corporation G, as on August 31, 2019.
3.
To determine
Journalize entries to make the cash account balance of Corporation G up to date.
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Required: 1.Complete the bank reconciliation at December 31, 2019. 2. Prepare the adjusting journal entries required to make the Cash in Bank account in the general ledger agree with the adjusted cash balance on the December 31 bank reconciliation. Include descriptions.
Please show work.
Prepare a reconciliation of the bank and book balances to the correct cash balance and provide the journal entries to adjust and correct Yingying's books.
Yingying Company's books show a cash balance at the Ojibway National Bank on November 30, 2020, of $20,502. The bank statement covering the month of November shows an ending balance of $22,190. An examination of Yingying's accounting records and the November bank statement identified the following reconciling items.
1. A deposit of $3,680 was taken to the bank late on November 30 but does not appear on the November bank statement.
2. Cheques written in November but not charged to (deducted from) the November bank statement are:
Cheque #7327 = $150 #7348 = 4,820 #7349 = 31
3. Yingyinghas not yet recorded the $600 of interest collected by the bank on November 20 on Sequoia Co. bonds held by the bank for Yingying.
4. Bank service charges of $18 are not yet recorded on Yingying s books.
5. A $220 cheque for Yingying from a…
Please be quick, I beg of you.
Chapter 6 Solutions
INTERM.ACCT.:REPORTING...-CENGAGENOWV2
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