Question: 119 At March 31, the balance of the Cash account according to the records of Mukhalloy Company was $7,261. The March 31 bank statement showed a balance of $8.798. You are to prepare the bank reconciliation of Mukhailov Company at March 31, using the following supplementary information and as per the given format: (a) Deposit in transit at March 31, $6,772. (b) Outstanding checks: no. 120, $140: no. 121, $932; no. 127, $307: no. 134, $2,200. (c) Service charge by the bank, $50. (d) A note receivable for $5.050 Jeft by Mukhailov Company with the bank for a collection that had been collected and credited to the company's account. No interest involved. (Already given for you below) (e) A check for $90 drawn by a customer, Goss, but deducted from Mukhalilov's account by the bank and returned with the notation "NSE. (f) Weber's check.no. 480, issued in payment of $970 worth of office equipment, correctly written in the amount of $970 but erroneously recorded in Mukhailovs accounting records as $790.
Question: 119 At March 31, the balance of the Cash account according to the records of Mukhalloy Company was $7,261. The March 31 bank statement showed a balance of $8.798. You are to prepare the bank reconciliation of Mukhailov Company at March 31, using the following supplementary information and as per the given format: (a) Deposit in transit at March 31, $6,772. (b) Outstanding checks: no. 120, $140: no. 121, $932; no. 127, $307: no. 134, $2,200. (c) Service charge by the bank, $50. (d) A note receivable for $5.050 Jeft by Mukhailov Company with the bank for a collection that had been collected and credited to the company's account. No interest involved. (Already given for you below) (e) A check for $90 drawn by a customer, Goss, but deducted from Mukhalilov's account by the bank and returned with the notation "NSE. (f) Weber's check.no. 480, issued in payment of $970 worth of office equipment, correctly written in the amount of $970 but erroneously recorded in Mukhailovs accounting records as $790.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Question: 119
At March 31, the balance of the Cash account according to the records of
Mukhalloy Company was $7,261. The March 31 bank statement showed a
balance of $8.798. You are to prepare the bank reconciliation of Mukhailov
Company at March 31, using the following supplementary information and
as per the given format:
(a) Deposit in transit at March 31, $6,772.
(b) Outstanding checks: no. 120, $140: no. 121, $932; no. 127, $307: no. 134,
$2,200.
(c) Service charge by the bank, $50.
(d) A note receivable for $5.050 Jeft by Mukhailov Company with the bank
for a collection that had been collected and credited to the company's
account. No interest involved. (Already given for you below)
(e) A check for $90 drawn by a customer, Goss, but deducted from
Mukhalilov's account by the bank and returned with the notation "NSE.
(f) Weber's check.no. 480, issued in payment of $970 worth of office
equipment, correctly written in the amount of $970 but erroneously
recorded in Mukhailovs accounting records as $790.
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