Del Gato Clinic's cash account shows an $16,676 debit balance and its bank statement shows $15,720 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,851. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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 $498. d. The June 30 cash receipts of $2,796 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Del Gato Clinic's cash account shows an $16,676 debit balance and its bank statement shows $15,720 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,851. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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 $498. d. The June 30 cash receipts of $2,796 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[The following information applies to the questions displayed below.]
Del Gato Clinic's cash account shows an $16,676 debit balance and its bank statement shows $15,720 on deposit at
the close of business on June 30.
a. Outstanding checks as of June 30 total $1,851.
b. The June 30 bank statement lists a $20 bank service charge.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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
$498.
d. The June 30 cash receipts of $2,796 were placed in the bank's night depository after banking hours and were
not recorded on the June 30 bank statement.
Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
2
3
4
Record the adjusting entry related to outstanding checks, if necessary.
Note: Enter debits before credits.
Transaction
a.
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
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Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Del Gato Clinic's cash account shows an $16,676 debit balance and its bank statement shows $15,720 on deposit at
the close of business on June 30.
a. Outstanding checks as of June 30 total $1,851.
b. The June 30 bank statement lists a $20 bank service charge.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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
$498.
d. The June 30 cash receipts of $2,796 were placed in the bank's night depository after banking hours and were
not recorded on the June 30 bank statement.
Prepare any necessary journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
2
3
4
Record the adjusting entry related to outstanding checks, if necessary.
Note: Enter debits before credits.
Transaction
a.
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
>
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