Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

The cash account for Bonita Medical Co. at September 30, 2008, indicated a balance of $5,335.30. The bank statement indicated a balance of $5,604.60 on September 30, 2008. Comparing the bank statement and the accompanying canceled checks and memoranda with the records revealed the following reconciling items:

a.) Checks outstanding totaled $4,790.45

b.) A deposit of $9,226.15, representing receipts of Sept 30, had been made too late to appear on the bank statement.

c.) The bank had collected $7,725 on a note left for collection. The face of the note was $7,500.

d.) A check for $4,315 returned with the statement had been incorrectly recorded by Bonita Medical Co. as $3,415. The check was for the payment of an obligation to Rowe Co. for the purchase of office eqiupment on account.

e.) A check drawn for $230 had been erroneously charged by the bank as $2,300.

f.) Bank service charges for September amounted to $50.

1.) PREPARE A BANK RECONCILIATION

2.) JOURNALIZE THE NECESSARY ENTRIES. THE ACCOUNTS HAVE NOT BEEN CLOSED.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946109

Have any Question? 


Related Questions in Accounting Basics

Accounts receivablesbullwhat is the importance of the

Accounts Receivables • What is the importance of the turnover of Accounts Receivables? • Why is it is essential for organizations to keep cash reserves on hands? • Is it possible to still bring in a lot of revenue, but s ...

Managerial accounting assignment task- group report

Managerial Accounting Assignment Task- Group Report: "Measuring Performance and Management Control Systems" - A study of Performance Measurement in Australian Public Companies. Outcomes- a) Analyse the roles of cost and ...

Accounting for business decisions melbourne assignment-the

Accounting for Business Decisions Melbourne Assignment- The assignment will undertake research using the website of the Australian Stock Exchange (ASX) and/or the Company whose industry is Food, Beverage & Tobacco that y ...

Compare all three balance sheets on the basic grounds of

Compare all three balance sheets on the basic grounds of accounts and differences. 1. HDFC 2. Infosys and 3. Tata Steel. Balance sheets - https://www.dropbox.com/s/0zf1xlialpx54vs/Balance%20Sheets.rar?dl=0.

Introductionnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp

Introduction                                                                                                       You are the professional accountant for The Sami Store owned by Mr. John Smith.  You have the task of pre ...

A stock pays an annual dividend of 2 the dividend is

A stock pays an annual dividend of $2. The dividend is expected to increase by 2% per year (roughly the inflation rate) forever. The price of the stock is $40 per share. At what cost of capital is this stock priced?

Explain what is meant by accruals and prepayments andhow

Explain what is meant by accruals and prepayments, and How they affect the trial balance.

Assignment 1 -scf-indirect method and net cash flow from

Assignment 1 - (SCF-Indirect Method, and Net Cash Flow from Operating Activities, Direct Method) Comparative balance sheet accounts of Marcus Inc. are presented below. MARCUS INC. COMPARATIVE BALANCE SHEET ACCOUNTS AS OF ...

On 30 june 2006 salohcin ltd entered into a nonshy

On 30 June 2006, Salohcin Ltd entered into a non­ cancellable lease with Ffoeg Ltd, for a period of 4 years. The lessor is a Manufacturer/Dealer of the leased equipment. The leased asset is a specific item of industrial ...

B bakery is a family owned firm with around 70 employees

B Bakery is a family owned firm with around 70 employees and sales revenue increased to more than $ 13.5 million during the past year. It has been in business for over 50 years and supplies bread and confectionary produc ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate