Prepare its bank reconciliation using the information

Assignment Help Accounting Basics
Reference no: EM133140089

Question - Del Gato Clinic's cash account shows a $11,361 debit balance and its bank statement shows $11,229 on deposit at the close of business on June 30.

a. Outstanding checks as of June 30 total $1,971.

b. The June 30 bank statement lists a $60 bank service charge.

c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398.

d. The June 30 cash receipts of $2,052 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

Required - Prepare its bank reconciliation using the above information.

Reference no: EM133140089

Questions Cloud

What is fair use principle under copyright law : What is the fair use principle under copyright law? What were the foundations of Google's and Oracle's arguments?
What is meant by the impairment of the value of property : Explain what is meant by the impairment of the value of property, plant, and equipment and intangible assets
Data visualization or infographic : If the selected project was a static work, what ideas do you have for potentially making it usefully interactive?
Identify types of security risks emc cloud : Develop a security policy for EMC Cloud to minimize exploitations and misuses whileevaluating the suitability of the tools used in an organizational policy
Prepare its bank reconciliation using the information : Del Gato Clinic's cash account shows a $11,361 debit balance and its bank statement shows $11,229 on deposit. Prepare its bank reconciliation
Provide the closing entry for the following trial balance : Provide the closing entry for the following trial balance at year end: Owners Withdrawals $6,000 and Cost of Goods Sold $25,000
What is decision modeling : What is decision modeling? What can it achieve? What tools are available to assist with data modeling?
Determine the year-end balance in cash and cash equivalents : The company raised a net amount of $180,000 from financing activities. Determine the year-end balance in cash and cash equivalents
Determine balance on the bank statement prior to adjustment : Dexter Company's bank reconciliation shows an adjusted cash balance of $5,067.74. Determine balance on the bank statement prior to adjustment

Reviews

Write a Review

Accounting Basics Questions & Answers

  What would be the net debit or credit to cost of goods sold

Morneau Company, a 100% owned subsidiary of Robertson Corporation, What the net debit or credit to cost of goods sold on the 2017 consolidation worksheet

  Identify the inventory tracking method

"Merchandising Operations" - Identify the inventory tracking method that is used to record the cost of goods sold and ending inventory

  Explain the role of staffing

Explain the role of staffing to support an organization's strategy and improve productivity.

  What steps should he take to ensure the company retains

What steps should he take to ensure the company retains, stores, and disposes of payroll records properly

  Compute the Derek incremental research credit

In-house wages, supplies, computer time $250,000. If the base amount is $100,000, Compute the Derek's incremental research credit

  Compute the standard direct material cost per unit

The cost of the direct material is $3 per inch. The standard direct material cost per unit of finish product

  Summarize the events of a recent accounting scandal

Summarize the events of a recent accounting scandal. Identify how the illegal/unethical act was detected

  Break-even point in sales units

Determine the (a) break-even point in sales units and (b) break-even point if the selling price were increased to $76 per unit. a. Break-even point in sales units units b. Break-even point if the selling price were increased to $76 per unit units

  Prepare August closing entries for Wood Interiors Company

The balances of the accounts appearing in the ledger of Wood Interiors Company, Prepare the August 31, 2012, closing entries for Wood Interiors Company

  Prepare firefly journal entries to record these transactions

Firefly Company had the following two transactions related to its delivery truck. Prepare Firefly's journal entries to record these two transactions

  Provide an example of conflicting goals in budgeting

what behavioral problems are associated with setting a budget too loosely? what behavioral problems are associated with

  How many dependents are the Bakers entitled

The Bakers' fair rental value of their residence, including utilities, is $14,000, How many dependents are the Bakers entitled to claim for the year

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd