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Chapter 9 - Activity#9 Prepare the bank reconciliation and...

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Activity #9 Prepare the bank reconciliation and the adjusting entries for Jones Company based on the following: Jones Company’s most recent December 31 st bank statement reports a balance of $6,010. Included with the bank statement was a $170 check from a customer returned by the bank as an NSF. The bank’s monthly service charge was $20 (miscellaneous expense). Notes receivable collected by the bank was $850. The outstanding checks totaled $2,000. Deposits made by the company of $150 had reached the bank too late for inclusion in the current statement. The check book balance is $3,500. 1. Prepare the bank reconciliation in the space provided: Bank Reconciliation December 31, 2006 Balance per Bank statement Balance per Company’s checkbook Adjusted balance per bank Adjusted balance per books 2. Prepare the journal entries that would be required based on your bank reconciliation Date Account Debit Credit
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Part 2: Nink & Co. provides the following financial information at December 31, 2006. Use the information to answer the questions below:
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  • Spring '07
  • Cohen
  • Generally Accepted Accounting Principles, Expense Wages Expense, Jones Company, Expense Depreciation Expense

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