Virtual Lab Week 2 (1)

Using Excel to Account For Bank Reconciliation Errors PROBLEM The following errors were found when the controller at Mitra Hotel was doing the October 31 bank reconciliation. Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. 1. On October 3, Mitra recorded a payment of an account payable at a different amount than the correct amount recorded by the bank. a. For each of these errors, indicate if and how it would be shown on the bank reconciliation, ▼ 2. 3. Recorded by Mitra $ Correct amount recorded by bank 360 630 On October 16, Mitra recorded a deposit for the collection of an account receivable at a different amount than the correct amount recorded by the bank. Recorded by Mitra 1. Payment of account payable Decrease to book cash balance 2. Collection of account receivable Increase to book cash balance 3. Collection of account…

Please prepare the bank reconciliation for CSA

Knowledge Check 01 The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. View transaction list Journal entry worksheet > W +

Required information Knowledge Check 01 The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. View transaction list Journal entry worksheet < 1 The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. Note: Enter debits before credits. Date June 01 FRAN FA O General Journal < Prev 144 19 ► 11 Debit of 19 H Credit Next + prt sc ← delete backspac

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complete the bank reconciliation and journal entries

Bank ReconciliationLidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance $28,600 Bank Balance $32,545 Deposits in transit $3,400 Outstanding checks $5,000, $1,800 and $975 Bank charges $35 Interest earned $55 Health insurance auto-draft $450

Hello, How do I solve this? Thanks

Prepare a bank reconsilition statment for June using the bank statment and t-account above and the information below.

Which account is the main focus of a bank reconciliation? Why? Explain the importance of monthly bank reconciliations. Provide 2 examples in which a business must make journal entries during a bank reconciliation

please answer in details within 30 minutes as to why the option is correct and why other options are wrong.

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Now, with Jacques’s latest bank statement and his check register or ledger in hand, you can examine the documents. Fourth State Bank of San Francisco, CA Statement of Account Jacques Smythe       June 20XX 550 Angel Street         San Francisco, CA       Account 348596 Date Description Subtractions Additions Balance 6-01 Previous balance     1,446.50 6-01 Deposit   300.00 1,746.50 6-03 Check 300 700.00   1,046.50 6-04 Check 301 350.00   696.50 6-05 ATM withdrawal 25.00   671.50 6-05 Deposit   75.00 746.50 6-11 ATM withdrawal 35.15   711.35 6-15 Deposit   300.00 1,011.35 6-18 Check 302 210.00   801.35 6-21 ATM withdrawal 47.65   753.70 6-22 Deposit   105.00 858.70 6-24 Check 303 70.00   788.70 6-26 ATM withdrawal 50.00   738.70 Jacques’s Account Ledger Date Transaction Description Deposit Withdrawals Balance Jun-01 Deposit - Payroll $300.00   $1,746.50 Jun-03 Check 300 - Rent   $700.00 1,046.50 Jun-04 Check 301 - Car payment…

Journals for bank reconciliation: Will journal entries be necessary based on the book or bank adjustments you discovered in the bank reconciliation? Type Book or Bank How many journals are needed? You do not need to write the actual journals on your PDF.