The book balance in the checking account of Kyri Enterprises as of November 30 is $2,944. The bank statement shows an ending balance of $2,542. The following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 11/29 $116 11/30 183 Outstanding checks: No. 322 14 No. 324 118 No. 327 52 Unrecorded ATM withdrawal: 104 Bank service charge: 19 NSF check: 184 Error on Check No. 321 Checkbook shows it was for $53, but it was actually written for $33. Accounts Payable was debited. *Funds were withdrawn by Susan Kyri for personal use.
The book balance in the checking account of Kyri Enterprises as of November 30 is $2,944. The bank statement shows an ending balance of $2,542. The following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 11/29 $116 11/30 183 Outstanding checks: No. 322 14 No. 324 118 No. 327 52 Unrecorded ATM withdrawal: 104 Bank service charge: 19 NSF check: 184 Error on Check No. 321 Checkbook shows it was for $53, but it was actually written for $33. Accounts Payable was debited. *Funds were withdrawn by Susan Kyri for personal use.
Chapter6: Investing And Financing Activities
Section: Chapter Questions
Problem 4.9C
Related questions
Question
100%
Transcribed Image Text:1 Bank statement balance, November 30
2 (Label)
3 (Label)
4.
6.
7 (Label)
8 (Label)
6.
10
11
12 Adjusted bank balance
13
14 Book balance, November 30
15 (Label)
16
Transcribed Image Text:The book balance in the checking account of Kyri Enterprises as of November 30 is $2,944. The bank statement shows an ending balance of $2,542. The
following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2)
comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos
shown on the bank statement.
Deposits in transit:
11/29
$116
11/30
183
Outstanding checks:
No. 322
14
No. 324
118
No. 327
52
Unrecorded ATM withdrawal:*
104
Bank service charge:
19
NSF check:
184
Error on Check No. 321
Checkbook shows it was for $53, but it was actually written for $33. Accounts Payable was debited.
*Funds were withdrawn by Susan Kyri for personal use.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial & Managerial Accounting
Accounting
ISBN:
9781285866307
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning