Bank Recon for Review Session

Bank Recon for - 5,000 Interest on Note Collected by Bank 55 Recording Error on a Check We Wrote 100 Check was written for $700 was recorded for

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

View Full Document Right Arrow Icon
Given Facts for the Bank Reconciliation Balance per Bank Statement 26,400 Balance per Books (per G/L Cash Account) 26,575 Note Collected by Bank 5,000 Interest on Note Collected by Bank 55 Bank Service Charge to Collect the Note 35 Deposit Outstanding 2,200 Bank Service Charge 45 NSF Customer Check 6,000 Checks Outstanding 3,100 A Check that was written for $700 -- was recorded for $800 Check was written for rent (rent expense) A Check that was written for $500 -- was recorded for $350 Check was written for wages (wage expense)
Background image of page 1

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

View Full DocumentRight Arrow Icon
Bank Reconciliation Based on the Given Facts Balance per Bank Statement $26,400 Add: Deposits Outstanding 2,200 Subtract: Checks Outstanding (3,100) Adjusted Bank Balance $25,500 $26,575 Add: Note Collected by Bank
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 5,000 Interest on Note Collected by Bank 55 Recording Error on a Check We Wrote 100 Check was written for $700 was recorded for $800 Subtract: Bank Service Charge (45) Bank Service Charge to Collect the Note (35) NSF Customer Check (6,000) Recording Error on a Check We Wrote (150) Check written for $500 was recorded for $350 Adjusted Balance per Books $25,500 Required Adjusting Entries Based on the Bank Reconciliation Dr. Cr. Cash 5,000 Note Receivable 5,000 Cash 55 Interest Revenue 55 Cash 100 Rent Expense 100 Service Charge Expense 45 Cash 45 Service Charge Expense 35 Cash 35 Accounts Receivable 6,000 Cash 6,000 Wage Expense 150 Cash 150 Balance per Books (per G/L Cash Account)...
View Full Document

This note was uploaded on 02/09/2012 for the course ACC 221 taught by Professor Wiegand during the Fall '08 term at Miami University.

Page1 / 2

Bank Recon for - 5,000 Interest on Note Collected by Bank 55 Recording Error on a Check We Wrote 100 Check was written for $700 was recorded for

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