Revise your worksheet to reflect the following transactions and updated values at the end of the accounting perlod, then answer the questions that follow. (Note: You do not need to upload your revised worksheet for Part 2.) 1 Cash on hand at the company and not yet deposited at the bank. 2 EFT for monthly utility bill not yet recorded by the company. 3 Note collected by the bank and not yet recorded by the company. 4 Interest collected by the bank from note in #3 not yet recorded by the company. SA check witten for insurance expense for $70 was cashed. The check was recorded on the books for $160. 6 Checks written by the company but not yet processed by the bank. 7 Service fee charged by bank but not yet recorded by the conpany. 8 Customer checks determined by the bank to have nonsufficient funds. 7,400 1,400 8,700 1,200 3,100 100 2,700 Bank balance at the end of the period. Company balance at the end of the period. 17,840 16,350 Required:
Revise your worksheet to reflect the following transactions and updated values at the end of the accounting perlod, then answer the questions that follow. (Note: You do not need to upload your revised worksheet for Part 2.) 1 Cash on hand at the company and not yet deposited at the bank. 2 EFT for monthly utility bill not yet recorded by the company. 3 Note collected by the bank and not yet recorded by the company. 4 Interest collected by the bank from note in #3 not yet recorded by the company. SA check witten for insurance expense for $70 was cashed. The check was recorded on the books for $160. 6 Checks written by the company but not yet processed by the bank. 7 Service fee charged by bank but not yet recorded by the conpany. 8 Customer checks determined by the bank to have nonsufficient funds. 7,400 1,400 8,700 1,200 3,100 100 2,700 Bank balance at the end of the period. Company balance at the end of the period. 17,840 16,350 Required:
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter3: Processing Accounting Information
Section: Chapter Questions
Problem 3.2E
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