The cash account for Norwegian Medical Co. at April 30 indicated a balance of $12,615. The bank statement indicated a balance of $14,590 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:
a. Checks outstanding totaled $73,870.
b. A deposit of $51,230, representing receipts of April 30, had been made too late to appear on the bank statement.
c. The bank collected $50,630 on a $48,220 note, including interest of $2,410.
d. A check for $9,160 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $916. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account.
e. A check drawn for $680 had been erroneously charged by the bank as $860.
f. Bank service charges for April amounted to $170.
Required:
a. Prepare a bank reconciliation. Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions for the exact wording of text entries. "Add:" or "Deduct:" will automatically appear if it is required. Enter all amounts as positive numbers.
b. Journalize the necessary entries.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 20:30, saltyclamp
Max fischer is a beekeeper. his annual group insurance costs 11,700. his employer pays 60% of the cost. how much does max pay semimonthly for it?
Answers: 1
Business, 22.06.2019 00:30, ummmmmmmmmmmm
What are six resources for you decide which type of business to start and how to start it?
Answers: 3
Business, 22.06.2019 11:40, ayoismeisalex
In each of the following, what happens to the unemployment rate? does the unemployment rate give an accurate impression of what’s happening in the labor market? a. esther lost her job and begins looking for a new one. b.sam, a steelworker who has been out of work since his mill closed last year, becomes discouraged and gives up looking for work. c.dan, the sole earner in his family of 5, just lost his $90,000 job as a research scientist. immediately, he takes a part-time job at starbucks until he can find another job in his field.
Answers: 2
Business, 22.06.2019 12:10, mcguirefam7071p2mbzz
Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations
Answers: 2
Do you know the correct answer?
The cash account for Norwegian Medical Co. at April 30 indicated a balance of $12,615. The bank stat...
Questions in other subjects:
Social Studies, 18.07.2019 20:30
Health, 18.07.2019 20:30
Biology, 18.07.2019 20:30
