acc225 app b - Student Name: Class: Problem 08-04A CLARK...

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Student Name: Class: Problem 08-04A CLARK COMPANY Bank Reconciliation July 31, 2005 Bank statement balance Add: Deposit of July 31 Total Deduct: Outstanding Checks: 3031 3065 3069 Adjusted bank balance Book balance Add: Proceeds of note less collection charge Deduct: NSF check Service charge Error (Check no. 3056) Adjusted book balance CLARK COMPANY General Journal Date Account Title Debit Credit Jul 31 Cash Collection Expense Notes Receivable 31 Accts. Rec.-J. Shaw Cash 31 Miscellaneous Expenses Cash 31 Rent Expense Cash
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For each of the following errors, explain the effect on (i) the adjusted bank statement cash balance and (ii) the adjusted cash account book balance. a. Unadjusted cash balance of $26,193 is listed on reconciliation as $26,139. b. Collection of $9,000 note less $45 collection fee is added to bank statement cash balance on reconciliation.
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Given Data P08-04A: CLARK COMPANY Cash balance $26,193 Bank statement balance 28,020 Outstanding checks: No. 3031 1,380 No. 3040 (returned with July statement)
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This note was uploaded on 01/17/2011 for the course ACCT 225 taught by Professor Laurathomas during the Spring '10 term at University of Phoenix.

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acc225 app b - Student Name: Class: Problem 08-04A CLARK...

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