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Question 1 of 1 The statement from Jackson County Bank on December 31 showed a balance of $26,662 A comparison of the bank statement with the Cash account revealed the following facts 1 2 3 Your answer is incorrect 4 The bank collected a note receivable of $2.500 for Sheffield Corp. on December 15 through electronic funds transfer. The December 31 receipts were deposited in a night deposit vault on December 31. These depasits were recorded by the bankidjananary Checks outstanding on December 31 totaled $1.200. Or December 21, the bank statement showed an NSF charge of $630 for a check received by the company from L. Bryan, a customer on account Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $26,292. This can be proven by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first Reconcile cash balance per bank first) Sheffield Corp. Bank Reconciliation December 31, 2022 Cashbasepet bank statement Add Less Outstanding chocks Deposits in transit Adjusted cash balance per bank Cash balance per books Add V eTextbook and Media List of Accounts Save for Later Attempts: 2 of 5 used Submit Answer

Question 1 of 1 The statement from Jackson County Bank on December 31 showed a balance of $26,662 A comparison of the bank statement with the Cash account revealed the following facts 1 2 3 Your answer is incorrect 4 The bank collected a note receivable of $2.500 for Sheffield Corp. on December 15 through electronic funds transfer. The December 31 receipts were deposited in a night deposit vault on December 31. These depasits were recorded by the bankidjananary Checks outstanding on December 31 totaled $1.200. Or December 21, the bank statement showed an NSF charge of $630 for a check received by the company from L. Bryan, a customer on account Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $26,292. This can be proven by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first Reconcile cash balance per bank first) Sheffield Corp. Bank Reconciliation December 31, 2022 Cashbasepet bank statement Add Less Outstanding chocks Deposits in transit Adjusted cash balance per bank Cash balance per books Add V eTextbook and Media List of Accounts Save for Later Attempts: 2 of 5 used Submit Answer

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 18P
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s/ui/v2/assessment-player 80 F3 $ OCT 26 4 Q F4 Question 1 of 1 The statement from Jackson County Bank on December 31 showed a balance of $26,662. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2 3. Your answer is incorrect. 4 The bank collected a note receivable of $2,500 for Sheffield Corp. on December 15 through electronic funds transfer. The December 31 receipts were deposited in a night deposit vault on December 31. These depasits were recorded by the bankid January Checks outstanding on December 31 totaled $1.200. On December 31, the bank statement showed an NSF charge of $630 for a check received by the company from L. Bryan, a customer on account Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $26,292. This can be proved by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first Reconcile cash balance per bank first.) Sheffield Corp. Bank Reconciliation December 31, 2022 Cashbalsocepet bank statement V Aidd V Less Outstanding chocks Adjusted cash balance per bank V Cash balance per books Add V V: Deposits in transit eTextbook and Media List of Accounts Save for Later stv♫♫ 9 0 F5 . MacBook Air C F6 % 18AAA 5 6 $ & 7 F7 PA * Attempts: 2 of 5 used 8 e DII F8 Submit Answer AA AQ 9 O ▷▷ F9 P ) 0 7 F10
Transcribed Image Text:s/ui/v2/assessment-player 80 F3 $ OCT 26 4 Q F4 Question 1 of 1 The statement from Jackson County Bank on December 31 showed a balance of $26,662. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2 3. Your answer is incorrect. 4 The bank collected a note receivable of $2,500 for Sheffield Corp. on December 15 through electronic funds transfer. The December 31 receipts were deposited in a night deposit vault on December 31. These depasits were recorded by the bankid January Checks outstanding on December 31 totaled $1.200. On December 31, the bank statement showed an NSF charge of $630 for a check received by the company from L. Bryan, a customer on account Prepare a bank reconciliation as of December 31 based on the available information. (Hint: The cash balance per books is $26,292. This can be proved by finding the balance in the Cash account from parts (a) and (b)) (List items that increase cash balance first Reconcile cash balance per bank first.) Sheffield Corp. Bank Reconciliation December 31, 2022 Cashbalsocepet bank statement V Aidd V Less Outstanding chocks Adjusted cash balance per bank V Cash balance per books Add V V: Deposits in transit eTextbook and Media List of Accounts Save for Later stv♫♫ 9 0 F5 . MacBook Air C F6 % 18AAA 5 6 $ & 7 F7 PA * Attempts: 2 of 5 used 8 e DII F8 Submit Answer AA AQ 9 O ▷▷ F9 P ) 0 7 F10
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