Principles of Accounting I Lab.-DL-A1.docx - 1 Principles...

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1Principles of Accounting I Lab.-DL-A1Chapter 8: PR 8-2A, page 390-391 and PR 8-3A, page 391.PR 8-2A :-JOURNAL-DATEACCOUNTDEBITCREDIT2012Aug. 1Petty cash750cash75010cash12,465Cash short and over25Store supplies12,440
231Store supplies390Delivery expense90Office supplies56MiscellaneousAdministrativeExpense42Cash short and over15cash59331Cash18,780Cash short and over40sales18,82031Petty cash100cash100PR 8-3A :ONLINE MEDICAL CO.Bank ReconciliationJune 30, 2012Cash balanceaccording to bankstatement128,660Add :Deposit of June 30,not recorded by bank18,550Bank error incharging check as45019,000
3$600 instead of $60Subtotal147,660Deduct :Outstanding checks32,700Adjusted balance114,960Cash balanceaccording tocompany’s records89,620Add :Proceeds of notecollected by bank,including $100interest26,750Subtotal116,370DeductError in recordingcheck1,350Bank servicecharges601,410Adjusted balance114,960Cash26,750Notes receivable25,000Interest Revenue1,750Accounts payable – HirschCo.1,350MiscellaneousAdministrative Expense60Cash1,410Amount to be reported on June 30, 2012,Balance sheet114,960
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