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AccountingCornerstones of Financial Accounting4th Edition

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Chapter 4, Problem 59BPSB
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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

Solutions

Chapter
Section
Problem 1DQ
Problem 2DQ
Problem 3DQ
Problem 4DQ
Problem 5DQ
Problem 6DQ
Problem 7DQ
Problem 8DQ
Problem 9DQ
Problem 10DQ
Problem 11DQ
Problem 12DQ
Problem 13DQ
Problem 14DQ
Problem 15DQ
Problem 16DQ
Problem 17DQ
Problem 18DQ
Problem 19DQ
Problem 20DQ
Problem 21DQ
Problem 22DQ
Problem 1MCQ
Problem 2MCQ
Problem 3MCQ
Problem 4MCQ
Problem 5MCQ
Problem 6MCQ
Problem 7MCQ
Problem 8MCQ
Problem 9MCQ
Problem 10MCQ
Problem 11MCQ
Problem 12MCQ
Problem 13MCQ
Problem 14MCQ
Problem 15MCQ
Problem 16CE
Problem 17CE
Problem 18CE
Problem 19CE
Problem 20CE
Problem 21CE
Problem 22CE
Problem 23CE
Problem 24CE
Problem 25BE
Problem 26BE
Problem 27BE
Problem 28BE
Problem 29BE
Problem 30BE
Problem 31BE
Problem 32BE
Problem 33BE
Problem 34BE
Problem 35BE
Problem 36BE
Problem 37BE
Problem 38BE
Problem 39E
Problem 40E
Problem 41E
Problem 42E
Problem 43E
Problem 44E
Problem 45E
Problem 46E
Problem 47E
Problem 48E
Problem 49E
Problem 50E
Problem 51E
Problem 52E
Problem 53E
Problem 54E
Problem 55APSA
Problem 56APSA
Problem 57APSA
Problem 58APSA
Problem 59APSA
Problem 60APSA
Problem 61APSA
Problem 55BPSB
Problem 56BPSB
Problem 57BPSB
Problem 58BPSB
Problem 59BPSB
Problem 60BPSB
Problem 61BPSB
Problem 62.1C
Problem 62.2C
Problem 62.3C
Problem 62.4C
Problem 63.1C
Problem 63.2C
Problem 64.1C
Problem 64.2C
Problem 65C
Problem 66.1C
Problem 66.2C
Problem 67.1C
Problem 67.2C
Problem 68.1C
Problem 68.2C
Problem 68.3C
Problem 68.4C
Problem 69.1C
Problem 69.2C
Problem 69.3C
Problem 69.4C
Problem 70.1C
Problem 70.2C
Problem 70.3C
Problem 70.4C
BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
5 views

OBJECTNE

The items on the bank statement are correct. The debit memo is for the payment by the bank of

The cash records of Donald Corporation provide the following informaLion:

Problem 4-593 Bank Reconciliation

Donald Corporaiion received the bank statement shown below for the month of October:

Date Checks Deposits Balance

9130 Beg. balance 35 5.205

1012 $1,200 $2,950 6.955

1014 50 300 6.605

10.18 900 5.?05

10110 100 60 $35 5.510

1011 3 4,000 9 .5 10

10114 300* 9 .2 10

10.117 525 325 8.360

10119 105 430 20 2,850 10.655

10121 3,110 1.545

10123 65 1.480

10125 250” 110 1.120

10127 90 7.030

10131 25* “ 1.305 5.100

‘NSF check

“Debit mama (Rent Expense)

&*#x201C;Sandrine charge

Date Item Debit Credit Balance

1011 Balance from 9130 $ 6.905

1012 Check #1908 $ 300 6.605

1015 Check #1909 900 5.705

1016 Check #1910 100 5.605

1016 Check #1911 60 5.545

1011 Check #1912 35 5.510

10112 Deposit #411 $4.000 9.510

10115 Check #1913 525 8.985

10116 Check #1914 325 8.660

10111 Check #1915 430 8.230

10111 Check #1916 20 8.210

10118 Deposit#412 2.850 11,060

10118 Check #1911 105 10,955

10120 Check #1918 65 10,890

10120 Check #1919 3.110 T380

10123 Check #1920 110 7.670

10125 Check #1921 90 T580

10129 Check #1922 1.350 6.230

10130 Check #1923 250 5.980

10131 Check #1924 650 5.330

10131 Deposit #413 3.300 8.630

Donald’s office furniture rent expense for October.

Required:

1. Prepare a bank reconciliation. (Him: There is one transposition error in the cash account.)

2. Prepare adjusting entries based on the bank reconciliation.

3. What amount is reported for cash in bank on the balance sheet at October 31‘?

1.

To determine

To prepare: Bank reconciliation.

Introduction:.Bank reconciliation is a process in which bank account prepared in the books of company is compared with the bank statement issued by bank. The difference in balances is then adjusted by recording appropriate adjusting entries.

Explanation

Reconciliation of Bank statement:

    ParticularsAmount($)Amount($)
    Closing balance5,700
    Add: Deposit in transit3,300
    Less: Outstanding checks
    Check-1923250
    Check-1924650(900)
    Balance as per cash book8,100

Table (1)

Computation of adjusted

2.

To determine

To prepare:Journal entries to record adjustments required because of bank reconciliation process.

Introduction: Journal entries provide a record of the financial activities undertaken within an organization. Journal entries helps in preparation of financial statements of a company.

3.

To determine

The cash balance to be reported on the balance sheet at October 31st.

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Ch-4 P-1DQCh-4 P-2DQCh-4 P-3DQCh-4 P-4DQCh-4 P-5DQCh-4 P-6DQCh-4 P-7DQCh-4 P-8DQCh-4 P-9DQCh-4 P-10DQ
Ch-4 P-11DQCh-4 P-12DQCh-4 P-13DQCh-4 P-14DQCh-4 P-15DQCh-4 P-16DQCh-4 P-17DQCh-4 P-18DQCh-4 P-19DQCh-4 P-20DQCh-4 P-21DQCh-4 P-22DQCh-4 P-1MCQCh-4 P-2MCQCh-4 P-3MCQCh-4 P-4MCQCh-4 P-5MCQCh-4 P-6MCQCh-4 P-7MCQCh-4 P-8MCQCh-4 P-9MCQCh-4 P-10MCQCh-4 P-11MCQCh-4 P-12MCQCh-4 P-13MCQCh-4 P-14MCQCh-4 P-15MCQCh-4 P-16CECh-4 P-17CECh-4 P-18CECh-4 P-19CECh-4 P-20CECh-4 P-21CECh-4 P-22CECh-4 P-23CECh-4 P-24CECh-4 P-25BECh-4 P-26BECh-4 P-27BECh-4 P-28BECh-4 P-29BECh-4 P-30BECh-4 P-31BECh-4 P-32BECh-4 P-33BECh-4 P-34BECh-4 P-35BECh-4 P-36BECh-4 P-37BECh-4 P-38BECh-4 P-39ECh-4 P-40ECh-4 P-41ECh-4 P-42ECh-4 P-43ECh-4 P-44ECh-4 P-45ECh-4 P-46ECh-4 P-47ECh-4 P-48ECh-4 P-49ECh-4 P-50ECh-4 P-51ECh-4 P-52ECh-4 P-53ECh-4 P-54ECh-4 P-55APSACh-4 P-56APSACh-4 P-57APSACh-4 P-58APSACh-4 P-59APSACh-4 P-60APSACh-4 P-61APSACh-4 P-55BPSBCh-4 P-56BPSBCh-4 P-57BPSBCh-4 P-58BPSBCh-4 P-59BPSBCh-4 P-60BPSBCh-4 P-61BPSBCh-4 P-62.1CCh-4 P-62.2CCh-4 P-62.3CCh-4 P-62.4CCh-4 P-63.1CCh-4 P-63.2CCh-4 P-64.1CCh-4 P-64.2CCh-4 P-65CCh-4 P-66.1CCh-4 P-66.2CCh-4 P-67.1CCh-4 P-67.2CCh-4 P-68.1CCh-4 P-68.2CCh-4 P-68.3CCh-4 P-68.4CCh-4 P-69.1CCh-4 P-69.2CCh-4 P-69.3CCh-4 P-69.4CCh-4 P-70.1CCh-4 P-70.2CCh-4 P-70.3CCh-4 P-70.4C

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