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WK2LTA - Running head WEEK 2 LEARNING TEAM A Week 2...

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Running head: WEEK 2 LEARNING TEAM A 1 Week 2 Learning Team A Cynthia Dale, Paula Dierks. Lindsay Miller, Scott Ward ACC/490 March 20, 2012 Raymond Ho
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WEEK 2 LEARNING TEAM A 2 6-30 a.) Prepare the bank reconciliation working paper in good form, showing adjusted balances per bank and per books. 12/31/XX PBC Reviewed by: C.B Sure Bold Inc. A – 1 BANK RECONCILIATION-A/C 102 – CASH IN BANK Balance per books, 12/31/XX 61,267.69 Add: Note collected by bank (AJE #12) 515.00 To AE-12 Less: December bank charges(AJE #13) (4.45) To AE-13 Less: Error in recording check # 2640 (#14) (90.00) To AE-14 Balance, as adjusted, 12/31/XX 61,688.24 Bold Inc. BANK RECONCILIATION 12/31/XX Ending Balance from Bank Statement 62,765.18 Add: Deposits in transit 1,452.20 Less: Outstanding Checks 87.10 232.90 17.20 619.75 1,100 472.19 (2,529.14) Computed Book Balance 61,688.24 b.) Prepare the adjusting entries that presumably were made. Bold Inc. AE-12
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WEEK 2 LEARNING TEAM A 3 Proposed Adjusting Entries W/P Ref. AJE # Account Debit Credit A-2 12 Cash in Bank 515 Notes Receivable 515 Note collected by bank Bold Inc. AE-13 Proposed Adjusting Entries W/P Ref. AJE # Account Debit Credit A-2 13 Bank Fee Expense 4.45 Cash in Bank 4.45 December Bank Fee Bold Inc. AE-14 Proposed Adjusting Entries W/P Ref. AJE # Account Debit Credit A-2 14 Accounts Payable 90 Cash in Bank 90 Correction of Error Check # 2640 c.) Bold, Inc.
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