instructions Instructions The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1 2 3 Journal 1. Cash balance according to the company's records at August 31, $24,556. 2. Cash balance according to the bank statement at August 31, $31,856. 3. Checks outstanding, $13,280. 4. Deposit in transit not recorded by bank, $6,392. 5. A check for $48 in payment of an account was erroneously recorded in the check register as $480. Bank debit memo for service charges, $20. 6. DATE Journal Journalize the entry or entries that should be made by the company. Refer to the Chart of Accounts for exact wording of account titles. DESCRIPTION JOURNAL POST. REF. Chart of Accounts DEBIT ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable CREDIT CHART OF ACCOUNTS ASSETS Creative Design Co. General Ledger ACCOUNTING EQUATION LIABILITIES Previous PAGE 1 REVENU EXPENS 510 Cost of M EQUITY 410 Sales 610 Interest F X Next >
instructions Instructions The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1 2 3 Journal 1. Cash balance according to the company's records at August 31, $24,556. 2. Cash balance according to the bank statement at August 31, $31,856. 3. Checks outstanding, $13,280. 4. Deposit in transit not recorded by bank, $6,392. 5. A check for $48 in payment of an account was erroneously recorded in the check register as $480. Bank debit memo for service charges, $20. 6. DATE Journal Journalize the entry or entries that should be made by the company. Refer to the Chart of Accounts for exact wording of account titles. DESCRIPTION JOURNAL POST. REF. Chart of Accounts DEBIT ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable CREDIT CHART OF ACCOUNTS ASSETS Creative Design Co. General Ledger ACCOUNTING EQUATION LIABILITIES Previous PAGE 1 REVENU EXPENS 510 Cost of M EQUITY 410 Sales 610 Interest F X Next >
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 19E
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