Homework 5 Solution

Homework 5 Solution - LAST NAME FIRST NAME_PUID Management...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
LAST NAME : _____________ F IRST NAME ______________PUID_________________ Management 200 – Introductory Financial Accounting– Maymester 2010 Krannert School of Management - Purdue University Homework 5 – due Thursday, June 3, 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 Plate Inc. for April 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 April 2010 are available below. Listed on the March 2010 bank reconciliation were un-presented checks # 817 for $500, #825 for $2,100 and #826 for $2,280. BANK STATEMENT Date Details Checks Deposits Balance Mar. 31 $14,680 Apr. 5 #829 440 6,200 20,440 Apr. 7 #825 2,100 18,340 Apr. 10 #832 600 5,440 23,180 Apr. 12 #826 2,280 #831 1,650 7,750 27,000 Apr. 14 #830 1,200 NSF Check 2/3/10 780 25,120 Apr. 17 3,250 28,370 Apr. 19 #834 3,200 5,710 30,880 Apr. 20 #835 5,000 25,880 Apr. 24 #833 6,250 3,290 22,920 Apr. 26 #837 1,210 4,660 26,370 Apr. 28 Interest 20 Bank service fees 70 26,220 ____________________________Cash __________________________ Balance 3/31/10 9,800 4//10Check #829 440 4/4/10 6,200 4/7/10 #830 1,200 4/8/10 5,440 4/8/10 #831 1,650 4/10/10 7,750 4/11/10 #832 600 4/15/10 3,250 4/13/10 #833 6,250 4/18/10 5,710 4/18/10 #834 3,200 4/22/10 3,290 4/20/10 #836 3,520 4/25/10 4,660 4/25/10 #837 1,210 4/29/10 1,940 4/29/10 #838 1,300 Balance 4/30/10 28,670
Image of page 1

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

View Full Document Right Arrow Icon
Homework 5 continued over . . . Homework 5 continued. Required: a. Why is the opening balance in the cash ledger account ($9,800) different than the opening balance on the bank statement ($14,680)?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern