08 - Class Exercises - month ended January 31, 2011....

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ACC211 Mitchell NVCC - Annandale Chapter 8 - Class Exercises QUESTION 1: 11,665 Cash balance per bank 3,400 Outstanding checks 5,750 Deposits in transit 250 NSF check 35 Bank service charge 14,300 Cash balance per books QUESTION 2: 1. Balance per bank, $55,000 2. Balance per books, $53,965 3. Deposits in transit, $4,000 4. 5. 6. Two bank debit memoranda are unrecorded: a. NSF check from Franz Schubert for $3000 on account. b. A bank service charge of $10 7. (a) (b) One bank credit memorandum is unrecorded. A note receivable for $1450 plus interest of $75 was collected by the bank. The bank charged $25 for this service. The interest has been accrued by the Beethoven Company. Prepare a bank reconciliation for the Beethoven Company for the
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Unformatted text preview: month ended January 31, 2011. Journalize the adjusting entries for Beethoven Company on January 31, 2011. Dolphin Company compiled the following information when it prepared the October bank reconciliation: As a result of the reconciliation, how much will Dolphin company need to reduce its cash account by? As of January 31, 2011, the Beethoven Company had the following facts concerning cash in bank: Outstanding checks: No. 305, $1000; No. 308, $2,500; and No. 310, $3,000 Error: Check No. 301 for $3,416 was correctly paid by the bank in the amount of $3,416. However, the company recorded it in the amount of $3,461. The check was a payment on account to a creditor....
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This note was uploaded on 02/28/2011 for the course ACC 211 taught by Professor Mitchell during the Spring '11 term at Northern Virginia Community College.

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