On December 31, The Gamekeeper Company has this bank information: cash balance per bank $9,450; outstanding checks $762; deposits in transit $1,700; interest revenue $8 and a check printing charge $20. In preparing the bank reconciliation, the Gamekeeper's bookkeeper discovered that the bank had mistakenly charged the check printing charge twice for a total of $40. Prepare the required adjustments for The Gamekeeper in the table below: -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses require a negative sign or parentheses. Reductions in revenues require a negative sign or parentheses. Assets Liabilities Stockholders' Equity Common Cash Retained Earnings Stock Revenues
On December 31, The Gamekeeper Company has this bank information: cash balance per bank $9,450; outstanding checks $762; deposits in transit $1,700; interest revenue $8 and a check printing charge $20. In preparing the bank reconciliation, the Gamekeeper's bookkeeper discovered that the bank had mistakenly charged the check printing charge twice for a total of $40. Prepare the required adjustments for The Gamekeeper in the table below: -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. -Increases in expenses require a negative sign or parentheses. Reductions in revenues require a negative sign or parentheses. Assets Liabilities Stockholders' Equity Common Cash Retained Earnings Stock Revenues
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
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