The cash account for santiago co on may 31 2011 indicated a

Assignment Help Accounting Basics

Reference no: EM13609647

The cash account for Santiago Co. on May 31, 2011, indicated a balance of $15,515.00. The March bank statement indicated an ending balance of $20,245.00. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:

a. Checks outstanding totaled $4,820.00

b. A deposit of $3,796.00 had been made too late to appear on the bank statement.

c. A check for $1,233.00 returned with the statement had been incorrectly recorded as $233.00. The check was originally issued to pay on account.

d. The bank collected $5,541.00 on a note left for collection.

e. Bank service charges for May amounted to $45.00. f. A check for $790.00 was returned by the bank because of insufficient funds.

Prepare a bank reconciliation as of May 31, 2011. Journalize the necessary entries

Reference no: EM13609647

Questions Cloud

Iq scores in a certain population are normally distributed : iq scores in a certain population are normally distributed with a mean of 95 and a standard deviation of 13. give your

Using the allowance method the uncollectible accounts for : using the allowance method the uncollectible accounts for the year is estimated to be 28000. if the balance for the

A parallel plate capacitor has a voltage of 391 v applied : a parallel plate capacitor has a voltage of 391 v applied across its plates then the voltage source is removed. what is

When there is a known current obligation that involves an : all of the following statements related to current liabilities for u.s. gaap and ifrs are true excepta. the definitions

The cash account for santiago co on may 31 2011 indicated a : the cash account for santiago co. on may 31 2011 indicated a balance of 15515.00. the march bank statement indicated an

List all samples of size 3 and compute the mean of each : a population consists of the following five values 13 14 19 21 and 23.a. list all samples of size 3 and compute the

An initially uncharged electroscope is polarized by : an initially uncharged electroscope is polarized by bringing a negatively charged rubber rod near the bulb. if the bulb

Then in another 4 s it moves from sb to sc 25m determine : a particle travels along a straight line such that in 2 s it moves from an initial position sa 0.5m to a position sb

The following information is collected from students upon : the following information is collected from students upon exiting the campus bookstore during the first week of

User Account

All Pages