The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30. After the journals for June had been posted, the cash account had a balance of $3,675.00. Prepare a bank reconciliation on the basis of the following reconciling items: (a) Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324. (b) Deposits in transit not recorded by bank, $500. (c) Bank debit memorandum for service charges, $25. (d) Bank credit memorandum for note collected by bank, $2,850, including $50 interest. (e) Bank debit memorandum for $218 NSF (not sufficient funds) check from Alice Bell, a customer. (f) Checks outstanding, $2,200.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30. After the journals for June had been posted, the cash account ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The Model Company is to begin operations in April. It has budgeted April sales of $70,000, May sales of $74,000, June sales of $80,000, July sales of $82,000, and August sales of $78,000.
Answers (1)
You go to the grocery store every 4 days. your friend goes to the grocery store every 10 days. if you and your friend both go to the grocery store today, when will you both go to the grocery store again on the same day?
Answers (1)
Does a monopoly have to be as considerate of the demand for their products as the other structures? explain.
Answers (1)
True or False. A post-closing trial balance is a list of all accounts and their balances after we have updated account balances for adjusting entries.
Answers (1)
When recording the journal entry for labor, the work in process inventory account is debited for standard labor cost. debited for actual labor cost. credited for standard labor cost. credited for actual labor cost. not used?
Answers (1)
New Questions in Business
Deep Water Marina has 12,000 shares of stock outstanding that were sold to the general public last year.
Answers (1)
What is the standard deviation of 800 and 56
Answers (1)
Adonis decides to take a very logical approach and develops a marketing campaign idea centered on information and evidence that streamlining electronics recycling can cut costs considerably.
Answers (1)
Ratchet Manufacturing's August sales budget calls for sales of 8,000 units. Each month's sales are expected to exceed the prior month's results by 5%. The product selling price is $25 per unit.
Answers (1)
Item 8Item 8 Rick's Cafe is a new restaurant in town. It has Rick, (the owner), five waitstaff, two cooks, a busboy, and a hostess. He is considering hiring a manager for the restaurant and asks for your thoughts. What advice would you give him?
Answers (1)