Study guide course part 3 - Section III Problems ABC Company received its bank statement in the mail on 10\/1 1 The September 30 th balance on the bank

Study guide course part 3 - Section III Problems ABC...

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Section III: Problems ABC Company received its bank statement in the mail on 10/1. 1. The September 30 th balance on the bank statement is $7.725 & the cash general ledger balance on this date is $9,225. 2. There was a deposit in transit in the amount of $3,550. 3. On September 30 th there was a check outstanding in the amount of $1,550. 4. During the month of September the bank collected an account receivable for ABC in the amount of $1,200. 5. A check actually written for $525 for supplies was erroneously recorded in ABC’s records by the bookkeeper as $225. 6. The bank assessed a service charge of $150 in September. 7. ABC deposited a NSF check in the amount of $250. Part I: Use the information above to prepare ABC company’s bank reconciliation for September. Make sure to circle the True Cash Balance. Use the information below for parts (A-C)
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ABC Company was formed and began operating on 1/1/13. ABC sells fishing rods to retail stores for resale. The following transactions occurred in their first month of operation.
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