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FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5

Required information
Use the following information for the Exercises 12-13 below. (Algo)
[The following information applies to the questions displayed below.]
Del Gato Clinic's cash account shows an $15,537 debit balance and its bank statement shows $14,496 on deposit at the
close of business on June 30.
a. Outstanding checks as of June 30 total $1,214.
b. The June 30 bank statement lists a $80 bank service charge.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June 15. Del
Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $698.
d. The June 30 cash receipts of $2,184 were placed in the bank's night depository after banking hours and were not
recorded on the June 30 bank statement.
Exercise 6-12 (Algo) Bank reconciliation LO P3
Prepare its bank reconciliation using the above information.
Bank statement balance
Add:
Deduct:
Adjusted bank balance
$
DEL GATO CLINIC
Bank Reconciliation
June 30
0
0
Book balance
Add:
Deduct:
0
0 Adjusted book balance
$
0
0
0
0
Transcribed Image Text:Required information Use the following information for the Exercises 12-13 below. (Algo) [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $15,537 debit balance and its bank statement shows $14,496 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,214. b. The June 30 bank statement lists a $80 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $698. d. The June 30 cash receipts of $2,184 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information. Bank statement balance Add: Deduct: Adjusted bank balance $ DEL GATO CLINIC Bank Reconciliation June 30 0 0 Book balance Add: Deduct: 0 0 Adjusted book balance $ 0 0 0 0
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