Bank Reconciliaton - Case 2 Laymon Boat Company's bank...

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Case 2Laymon Boat Company's bank statement for the month of September showed a balance per bank of€7,000. The company's Cash account in the general ledger had a balance of €4,667 at September 30.Other information is as follows:(1)Cash receipts for September 30 recorded on the company's books were €5,000 but this amountdoes not appear on the bank statement.(2)The bank statement shows a debit memorandum for €60 for check printing charges.(3)Check No. 119 payable to Mann Company was recorded in the cash payments journal and clearedthe bank for €248. A review of the accounts payable subsidiary ledger shows a €36 credit balancein the account of Mann Company and that the payment to them should have been for €284.(4)The total amount of checks still outstanding at September 30 amounted to €5,800.(5)Check No. 138 was correctly written and paid by the bank for €429. The cash payment journalreflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for€492.(6)

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Term
Fall
Professor
lawrence
Tags
Financial Accounting, invoice, Laymon Boat Company

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