Curate Company assembled the following information in completing its May bank reconciliation: Balance per bank Outstanding checks Deposits in transit NSF check Bank service charges Cash balance per books Use the following tabular analysis to determine the required adjustments to Curate's accounts: Bal 13,224 May 20 Adj Bal Assets Accounts Rec $13,224 2,480 4,000 256 80 15,080 Liabilities + Accounts Payable Common Steck Decrease Accounts Receivable by $256. Decrease Cash by $2,480. Increase Expense by $336. Increase Expenses by $80. Stockholders' Equity Revenue- Expenses

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Curate Company assembled the following information in completing its May bank
reconciliation:
Balance per bank
Outstanding checks
Deposits in transit
NSF check
Bank service charges
Cash balance per books
Use the following tabular analysis to determine the required adjustments to Curate's
accounts:
Cash
Bal 13,224
May 30
Adj.Bal
Assets
Accounts
Rec
$13,224
2,480
4,000
256
80
15,080
Liabilities
Accounts
Payable
Common
Stock
Decrease Accounts Receivable by $256.
Decrease Cash by $2,480.
Increase Expense by $336.
Increase Expenses by $80.
Stockholders' Equity
+Revenue-
Expenses
Transcribed Image Text:Curate Company assembled the following information in completing its May bank reconciliation: Balance per bank Outstanding checks Deposits in transit NSF check Bank service charges Cash balance per books Use the following tabular analysis to determine the required adjustments to Curate's accounts: Cash Bal 13,224 May 30 Adj.Bal Assets Accounts Rec $13,224 2,480 4,000 256 80 15,080 Liabilities Accounts Payable Common Stock Decrease Accounts Receivable by $256. Decrease Cash by $2,480. Increase Expense by $336. Increase Expenses by $80. Stockholders' Equity +Revenue- Expenses
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