L13 Notes_Part_14 - 2 A summary of the bank statement for December 19X7 Balance brought forward $ 19,400 Deposits 148,700 168,100 Charges 132,500

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
© W.R. Knechel 2. A summary of the bank statement for December 19X7. Balance brought forward $ 19,400 Deposits 148,700 168,100 Charges 132,500 Balance, December 31, 19X7 $35,600 3. A summary of the cash book for December 19X7 before adjustment. Balance brought forward $ 18,200 Receipts 149,690 167,890 Disbursements 124,885 Balance, December 31, 19X7 $ 43,005 4. Included with canceled checks returned with the December bank statement were the checks listed on prior slide. 5. The Tuck Company discounted its own 60-day note for $9,000 with the bank on December 1, 19X7. The discount rate was 6 percent. The accountant recorded the proceeds as a cash receipt at the face value of the note. 6. The accountant records customers' dishonored checks as a reduction of cash receipts. When the dishonored checks are redeposited they are recorded as a regular cash receipt. Two N.S.F. checks for $180 and $220 were returned by the bank during December. The $180 check was redeposited, but the $220 check was
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

Page1 / 3

L13 Notes_Part_14 - 2 A summary of the bank statement for December 19X7 Balance brought forward $ 19,400 Deposits 148,700 168,100 Charges 132,500

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online