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AccountingIntermediate Accounting: Reporting And Analysis3rd Edition

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Chapter 6, Problem 21E
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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

Solutions

Chapter
Section
Problem 1GI
Problem 2GI
Problem 3GI
Problem 4GI
Problem 5GI
Problem 6GI
Problem 7GI
Problem 8GI
Problem 9GI
Problem 10GI
Problem 11GI
Problem 12GI
Problem 13GI
Problem 14GI
Problem 15GI
Problem 16GI
Problem 17GI
Problem 18GI
Problem 19GI
Problem 20GI
Problem 21GI
Problem 22GI
Problem 23GI
Problem 24GI
Problem 25GI
Problem 26GI
Problem 27GI
Problem 1MC
Problem 2MC
Problem 3MC
Problem 4MC
Problem 5MC
Problem 6MC
Problem 7MC
Problem 8MC
Problem 9MC
Problem 10MC
Problem 11MC
Problem 1RE
Problem 2RE
Problem 3RE
Problem 4RE
Problem 5RE
Problem 6RE
Problem 7RE
Problem 8RE
Problem 9RE
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Problem 11RE
Problem 12RE
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Problem 15RE
Problem 16RE
Problem 1E
Problem 2E
Problem 3E
Problem 4E
Problem 5E
Problem 6E
Problem 7E
Problem 8E
Problem 9E
Problem 10E
Problem 11E
Problem 12E
Problem 13E
Problem 14E
Problem 15E
Problem 16E
Problem 17E
Problem 18E
Problem 19E
Problem 20E
Problem 21E
Problem 22E
Problem 23E
Problem 24E
Problem 1P
Problem 2P
Problem 3P
Problem 4P
Problem 5P
Problem 6P
Problem 7P
Problem 8P
Problem 9P
Problem 10P
Problem 11P
Problem 12P
Problem 13P
Problem 14P
Problem 15P
Problem 16P
Problem 17P
Problem 18P
Problem 19P
Problem 1C
Problem 2C
Problem 3C
Problem 4C
Problem 5C
Problem 6C
Problem 7C
Problem 8C
Problem 9C
Problem 10C
Problem 12C
BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Adjusting an Unknown Cash Ralance (Appendix 6.1) The information that follows is available from the general ledger and the bank statement of Gentry Corporation for the month of August, 2019:

Chapter 6, Problem 21E, Adjusting an Unknown Cash Ralance (Appendix 6.1) The information that follows is available from the

Required:

  1. 1. Next Level Starting with the bank statement balance, prepare a schedule to determine Gentry’s cash balance on August 31, prior to any required adjustments.
  2. 2. Prepare a bank reconciliation to determine Gentry’s adjusted cash balance on August 31, 2019.
  3. 3. Prepare the journal entries necessary to bring Gentry’s cash account balance up to date.

1.

To determine

Prepare a schedule to ascertain the cash balance of corporation G on August 3, before any required adjustment.

Explanation

Bank reconciliation statement:

Bank reconciliation statement is a report that summarizes the banking and business  activity by reconciling the company’s bank accounts with its financial records. And it compares the bank balance shown in the company’s bank statement with the balance stated in the bank statement.

Schedule to ascertain the cash balance of corporation G is prepared as follows:

ParticularsAmountAmount
Balance from bank statement $1,342.50
Add: Deposit in transit$329...

2.

To determine

Prepare a bank reconciliation to ascertain the cash balance of Corporation G, as on August 31, 2019.

3.

To determine

Journalize entries to make the cash account balance of Corporation G up to date.

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