ACC410 P7-13 - ................................... 523.80**...

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*PROBLEM 7-13 (a) Aguilar Co. Bank Reconciliation June 30, 2010 Balance per bank, June 30 $4,150.00 Add:  Deposits in transit 3.390.00 Deduct:  Outstanding checks  (2,136.05 ) Correct cash balance, June 30 $5,403.95 Balance per books, June 30 $3,969.85 Add: Error in recording deposit ($90 – $60) $  30.00           Error on check no. 747             ($582.00 – $58.20) 523.80         Note collection ($1,200 + $36)   1,236.00    1,789.80 5,759.65 Deduct:  NSF check 253.20                 Error on check no. 742 ($491 – $419) 72.00                 Bank service charges ($25 + $5.50)     30.50     (355.70 ) Correct cash balance, June 30 $5,403.95 (b) Cash. ............................................................. 1,789.80       Accounts Receivable. .............................. 30.00*       Accounts Payable.
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Unformatted text preview: ................................... 523.80** Notes Receivable. ................................... 1,200.00 Interest Revenue. .................................... 36.00 Accounts Receivable. .................................... 253.20 Accounts Payable. ......................................... 72.00*** Office ExpenseBank Charges. ................... 30.50 Cash. ....................................................... 355.70 1 *Assumes sale was on account and not a cash sale. **Assumes that the purchase of the equipment was recorded at its proper price. If a straight cash purchase, then Equipment should be credited instead of Accounts Payable. ***If a straight cash purchase, then Equipment should be debited instead of Accounts Payable. 2...
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This note was uploaded on 10/27/2010 for the course FIN 82571 taught by Professor Sharp during the Fall '10 term at CSU Sacramento.

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ACC410 P7-13 - ................................... 523.80**...

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