Mgmt 200 Spring 2010 Homework 5 Solution

# Mgmt 200 Spring 2010 Homework 5 Solution - LAST NAME: _...

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LAST NAME: _____________ FIRST NAME______________PUID_________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Spring 2010 Krannert School of Management - Purdue University Homework 5 – due Friday, March 26, 2010 - SOLUTION IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. PART A: The following information is available to assist you in preparing the bank reconciliation for Grant Enterprises for February 2010. All cash receipts are banked intact twice a week (Tuesday and Saturday) and all payments are made by check. The firm’s ledger account for cash and the bank statement for February 2010 are available below. Listed on the January 2010 bank reconciliation were un-presented checks # 817 for \$500, #825 for \$2,100 and #626 for \$2,280. BANK STATEMENT Date Details Checks Deposits Balance Jan. 31 \$14,680 Feb. 3 #829 440 6,200 20,440 Feb. 5 #825 2,100 18,340 Feb. 8 #832 600 5,440 23,180 Feb. 10 #826 2,280 #831 1,650 7,750 27,000 Feb. 12 #830 1,100 NSF Check 2/3/10 780 25,120 Feb. 15 3,250 28,370 Feb. 17 #834 3,200 5,710 30,880 Feb. 18 #835 5,000 25,880 Feb. 22 #833 6,250 3,290 22,920 Feb. 24 #837 1,210 4,660 26,370 Feb. 26 Interest 20 Bank service fees 70 26,320 ____________________________Cash __________________________ Balance 1/31/10 9,800 2/2/10Check #829 440 2/2/10 6,200 2/5/10 #830 1,100 2/6/10 5,440 2/6/10 #831 1,650 2/9/10 7,750 2/9/10 #832 600 2/13/10 3,250 2/11/10 #833 6,250 2/16/10 5,710 2/16/10 #834 3,200 2/20/10 3,290 2/18/10 #836 3,720 2/23/10 4,660 2/23/10 #837 1,210 2/27/10 1,940 2/27/10 #838 1,300

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## This note was uploaded on 12/04/2011 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue.

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Mgmt 200 Spring 2010 Homework 5 Solution - LAST NAME: _...

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