Homework Help is Here – Start Your Trial Now!
Business
Accounting
On December 31, The Gamekeeper Company has this bank information: cash balance per bank $9,450; outstanding checks $762; deposits in transit $1,700; interest revenue $8 and a check printing charge $20. In preparing the bank reconciliation, the Gamekeeper's bookkeeper discovered that the bank had mistakenly charged the check printing charge twice for a total of $40. Prepare the required adjustments for The Gamekeeper in the table below: -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses require a negative sign or parentheses. Reductions in revenues require a negative sign or parentheses. Assets Liabilities Stockholders' Equity Common Cash Retained Earnings Stock Revenues

On December 31, The Gamekeeper Company has this bank information: cash balance per bank $9,450; outstanding checks $762; deposits in transit $1,700; interest revenue $8 and a check printing charge $20. In preparing the bank reconciliation, the Gamekeeper's bookkeeper discovered that the bank had mistakenly charged the check printing charge twice for a total of $40. Prepare the required adjustments for The Gamekeeper in the table below: -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses require a negative sign or parentheses. Reductions in revenues require a negative sign or parentheses. Assets Liabilities Stockholders' Equity Common Cash Retained Earnings Stock Revenues

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
See similar textbooks
icon
Related questions
Question
On December 31, The Gamekeeper Company has this bank information: cash balance per bank $9,450; outstanding checks $762; deposits in transit $1,700; interest revenue $8 and a check printing charge $20. In preparing the bank reconciliation, the Gamekeeper's bookkeeper discovered that the bank had mistakenly charged the check printing charge twice for a total of $40. Prepare the required adjustments for The Gamekeeper in the table below: -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses. Assets Liabilities Stockholders' Equity $ Cash Retained Earnings 1700 $ eTextbook and Media -1700 $ Common Stock $ Revenues
Transcribed Image Text:On December 31, The Gamekeeper Company has this bank information: cash balance per bank $9,450; outstanding checks $762; deposits in transit $1,700; interest revenue $8 and a check printing charge $20. In preparing the bank reconciliation, the Gamekeeper's bookkeeper discovered that the bank had mistakenly charged the check printing charge twice for a total of $40. Prepare the required adjustments for The Gamekeeper in the table below: -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses require a negative sign or parentheses. - Reductions in revenues require a negative sign or parentheses. Assets Liabilities Stockholders' Equity $ Cash Retained Earnings 1700 $ eTextbook and Media -1700 $ Common Stock $ Revenues
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Bank reconciliation statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS