CH6 - Chapter 6 Class Problems: (sources available on...

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Chapter 6 Class Problems: (sources available on request) 1. Bank Reconciliations: Prepare a bank reconciliation given the following information: Balance per books, 9/30/08, $3,185 Balance per bank statement, 9/30/08, $3,254 Checks not cleared by the bank at 9/30/08: o # 10087 - $8 o #10094 - $24 o #10097 - $30 o #10098 - $68 o #10099 - $52 Customer check returned by bank as NSF, $25 Bank service charge for September, $5 Interest earned on account credited by bank, $16 Deposits not yet credited by bank, $100 Posting error made on check #10089, written as $58, posted as $59 to supplies 2. The Stanwick Manufacturing Company offers credit customers a 2% cash discount if the sales price is paid within 10 days. Any amounts not paid within 10 days are due in 30 days. These repayment terms are stated as 2/10, n/30. On October 5, 2003, Hawthorne sold merchandise at a price of $20,000. the customer paid $13,720 ($14,000 less the 2% cash discount) on October 14 and the remaining balance of $6,000 on November 4.
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