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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Transcribed Image Text:O 790%
The following is from Tyrone's bank statement for
April:
April 1
Beginning Balance.
$ 136.00
3
Check No. 79....
$ 15.00
121.00
Deposit No. 10499
$ 96.00
217.00
5
Check No. 80.
261.32
(44.32)
5
Automatic Loan.
132.00
87.68
5
Deposit No. 10500
45761
545.29
20
NSF Check
20.00
525.29
20
Service Charge.
15.00
510.29
30
Interest
1.21
511.50
Instructions: Prepare a reconciliation of
Tyrone's bank account as of April 30. Show both
a corrected balance per bank and a corrected
balance per books. Assume that any errors or
discrepancies you find are Tyrone's fault, not the
bank's.

Transcribed Image Text:Annotatior
The following data were taken from Tyrone Tardieff's
check register for the month of April. Tyrone's bank
reconciliation for March showed one outstanding
check, Check No. 78 for $57.00 (written on March 23),
and one deposit in transit, Deposit No. 10499 for
$96.00 (made on March 30).
Date
Item
Checks
Deposits
Balance
2015
April
1
Beginning Balance
$175.00
1
Deposit No. 10500
$451.61
626.61
1
Check No. 79.
$ 15.00
61661
4.
Check No. 80.
261.32
35559
27
Deposit No. 10501
247.28
602.87
29
Check No. 81.
214.35
38952
The following is from Tyrone's bank statement for
April:
Expert Solution
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Bank Reconciliation Statement
This statement is prepared to reconcile the balance between books and bank statement . There may be some differences due to time of booking transactions in both of these records. These differences is reconciled and an adjusted balance is calculated.
Step by stepSolved in 2 steps with 1 images
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Similar questions
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- The ending bank statement balance at November 30 is $6,850. The bank statement shows a service charge of $85, electronic funds receipts of $500, and a NSF check for $350. Deposits in transit total $2,350 and outstanding checks are $1,535. The balance per books at November 30 is $7,600. What is the adjusted bank balance at November 30? A. $8,415 B. $6,915 C. $6,850 D. $7,665arrow_forward1arrow_forwardPlease help mearrow_forward
- 2. DETAILS rise BRECMBC9 4.11.TB.011. On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. O $29.95 O $943.80 O $1,003.70 $1,108.88arrow_forward3. The April 30 bank statement of 10A Company showed a balance of $$24,635 and the following memoranda: Credits Collection of $1,250 note plus interest $50 Interest earned on checking account $65 Debits $75 NSF check: Banana Wang $635 Safety deposit box rent: 10A Company's cash account in the general ledger had a balance of $26,100 on April 30 and other information is as follows: (1) Cash receipts for April 30 recorded on the company's books were $6,695 but this amount does not appear on the bank statement. (2) The total amount of checks still outstanding at April 30 amounted to $6,575, including $2,000 certified checks. (3) Check No. 119 payable to 10B Company was recorded in the cash payments journal and cleared the bank for $248 but the payment should be $284. Instructions (a) (b) Prepare the bank reconciliation at April 30. Prepare any adjusting entries necessary as a result of the bank reconciliation. (Hint: Record Safety deposit box rent as Miscellaneous (Misc.) Expense)arrow_forward
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