1 At November 30, cash per the bank statement was $37,758; per the accountingAt November 30, One Day Cleaners has available the following data concerning itsPROBLEM 7A-2þank checking account:At November 30, cash per the bank statement was $37,758; per the accounti.records, $42,500.2 The cash receipts of $6,244 on November 30 were 'deposited on December 1Preparing aBank Reconcll-lation3 Included on the bank statement was a credit for $167 interest earned on thi.checking account during November.4 Two checks were outstanding at November 30: no. 921 for $964 and no. 925 for$1,085.5 Enclosed wvith the bank statement were two debit memoranda for the followingitems: service charge for November, $14; and a $700 check of customer TanyaMiller, marked "NSF."INSTRUCTIONSa Prepare a bank reconciliation at November 30.b Prepare adjusting entries (in general journal form) based on the bank reconcili-ation.

The bank reconciliation statement is prepared to match the cash balances of cash book and pass book.…

At November 30, One Day Cleaners has available the following data concerning its PROBLEM 7A-2 Preparing a Bank Reconcll- þank checking account: 1 At November 30, cash per the bank statement was $37,758; per the accounting lation records, $42,500. 2 The cash receipts of $6,244 on November 30 were deposited on December 1 Included on the bank statement was a credit for $167 interest earned on this checking account during November. 4 Two checks were outstanding at November 30: no. 921 for $964 and no. 925 for $1,085. Enclosed with the bank statement were two debit memoranda for the following items: service charge for November, $14; and a $700 check of customer Tanya Miller, marked "NSF." a Prepare a bank reconciliation at November 30. b Prepare adjusting entrics (in general journal form) based on the bank reconcili- INSTRUCTIONS ation

At November 30, One Day Cleaners has available the following data concerning its PROBLEM 7A-2 Preparing a Bank Reconcll- þank checking account: 1 At November 30, cash per the bank statement was $37,758; per the accounting lation records, $42,500. 2 The cash receipts of $6,244 on November 30 were deposited on December 1 Included on the bank statement was a credit for $167 interest earned on this checking account during November. 4 Two checks were outstanding at November 30: no. 921 for $964 and no. 925 for $1,085. Enclosed with the bank statement were two debit memoranda for the following items: service charge for November, $14; and a $700 check of customer Tanya Miller, marked "NSF." a Prepare a bank reconciliation at November 30. b Prepare adjusting entrics (in general journal form) based on the bank reconcili- INSTRUCTIONS ation

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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At November 30, balance as per the bank statement of One Day Cleaners was $40,758; and balance as per the cash book, $41,969. Accountant found following transactions which created difference in balances of cash book and pass book.1. Included on the bank statement was a credit for $168 interest earned on this checking account during November but not recorded in cash book.2. Two cheques were outstanding at November 30: no. 921 for $964 and no. 925 for $1085.3. Enclosed with the bank statement were two debit memoranda for the following items: service charge for November, $14; and a $700 cheque of a customer marked as “NSF”.4. Accountant found a mistake in bank statement as a wrong credit of $1750.5. Examination of the paid checques also revealed that two cheques, all issued in November, had not yet been paid by the bank: no. 921 for $945; no. 924 for $320.6. Verified that cash receipts of $16997 on November 29 were deposited into the bank but the same could not be cleared by bank till…
Complete a Bank Reconciliation for the following: On March 31st the checkbook balance of Dust Bunnies Cleaning Co. was $2,568. The bank statement was $3,254.50. Checks outstanding were $2,788. The statement revealed a deposit in transit of $2,125 as well as a bank service charge of $11.50. The company earned interest income of $35.00. Complete a bank reconciliation for Dust Bunnies Cleaning Co.
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At November 30, One Day Cleaners has available the following data concerning its bank checking account: PROBLEM 7A-2 Preparing a Bank Reconcil- 1 At November 30, cash per the bank statement was $37,758; per the accounting records, $42,500. lation 2 The cash receipts of $6,244 on November 30 were deposited on December 1. 3 Included on the bank statement was a credit for $167 interest earned on this checking account during November. 4 Two checks were outstanding at November 30: no. 921 for $964 and no. 925 for $1,085. 5 Enclosed with the bank statement were two debit memoranda for the following items: service charge for November, $14; and a $700 check of customer Tanya Miller, marked "NSF." INSTRUCTIONS a Prepare a bank reconciliation at November 30. b Prepare adjusting entries (in general journal form) based on the bank reconcili- ation.
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