Business
AccountingCollege Accounting, Chapters 1-27BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. 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. *Funds were withdrawn by Enoch Johnson for personal use. Required 1. Prepare a bank reconciliation as of October 31, 20--. 2. Prepare the required journal entries.
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BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. 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. *Funds were withdrawn by Enoch Johnson for personal use. Required 1. Prepare a bank reconciliation as of October 31, 20--. 2. Prepare the required journal entries.

BuyFind

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
Publisher: Cengage Learning,
ISBN: 9781337794756
BuyFind

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
Publisher: Cengage Learning,
ISBN: 9781337794756

Solutions

Chapter
Section
Problem 1TF
Problem 2TF
Problem 3TF
Problem 4TF
Problem 5TF
Problem 1MC
Problem 2MC
Problem 3MC
Problem 4MC
Problem 5MC
Problem 1CE
Problem 2CE
Problem 3CE
Problem 4CE
Problem 1RQ
Problem 2RQ
Problem 3RQ
Problem 4RQ
Problem 5RQ
Problem 6RQ
Problem 7RQ
Problem 8RQ
Problem 9RQ
Problem 10RQ
Problem 11RQ
Problem 12RQ
Problem 13RQ
Problem 14RQ
Problem 1SEA
Problem 2SEA
Problem 3SEA
Problem 4SEA
Problem 5SEA
Problem 6SEA
Problem 7SEA
Problem 8SPA
Problem 9SPA
Problem 10SPA
Problem 11SPA
Problem 1SEB
Problem 2SEB
Problem 3SEB
Problem 4SEB
Problem 5SEB
Problem 6SEB
Problem 7SEB
Problem 8SPB
Problem 9SPB
Problem 10SPB
Problem 11SPB
Problem 1MYW
Problem 1MP
Problem 1CP
Chapter 7, Problem 8SPA
Textbook Problem

BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. 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.

Chapter 7, Problem 8SPA, BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Johnson

*Funds were withdrawn by Enoch Johnson for personal use.

Required

  1. 1. Prepare a bank reconciliation as of October 31, 20--.
  2. 2. Prepare the required journal entries.

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Chapter 7,
Problem 7SEA
Chapter 7,
Problem 9SPA

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Chapter 7 Solutions

College Accounting, Chapters 1-27
Show all chapter solutions
Ch. 7 - The primary purpose of a bank reconciliation is to...Ch. 7 - NSF checks are subtracted from the bank statement...Ch. 7 - The bank service charge requires a journal entry...Ch. 7 - Unrecorded ATM withdrawals are added to the book...Ch. 7 - The petty cash record is a journal of original...Ch. 7 - Which of these could be added to the ending book...Ch. 7 - Which of these is subtracted from the ending book...Ch. 7 - Which of these is added to the ending bank...Ch. 7 - To establish a petty cash fund, which account is...Ch. 7 - When the cash short and over account has a debit...
Ch. 7 - Match the following words with their definitions...Ch. 7 - Indicate how each of the following items should be...Ch. 7 - A petty cash fund established for 200 had the...Ch. 7 - The cash register tape for June 30 showed cash...Ch. 7 - Why must a signature card be filled out and signed...Ch. 7 - Explain the difference between a blank endorsement...Ch. 7 - Who are the three parties to every check?Ch. 7 - What are the three steps to follow in preparing a...Ch. 7 - What are the most common reasons for differences...Ch. 7 - What are the three steps to follow in preparing a...Ch. 7 - What two kinds of items on a bank reconciliation...Ch. 7 - Name five common uses of electronic funds...Ch. 7 - What is the purpose of a petty cash fund?Ch. 7 - What should be prepared every time a petty cash...Ch. 7 - At what two times should the petty cash fund be...Ch. 7 - From what source is the information obtained for...Ch. 7 - At what two times would an entry be made affecting...Ch. 7 - What does a debit balance in the cash short and...Ch. 7 - CHECKING ACCOUNT TERMS Match the following words...Ch. 7 - PREPARE DEPOSIT TICKET Based on the following...Ch. 7 - PREPARE CHECK AND STUB Based on the following...Ch. 7 - BANK RECONCILIATION PROCEDURES In a format similar...Ch. 7 - PREPARE JOURNAL ENTRIES FOR BANK RECONCILIATION...Ch. 7 - PETTY CASH JOURNAL ENTRIES Based on the following...Ch. 7 - CASH SHORT AND OVER ENTRIES Based on the following...Ch. 7 - BANK RECONCILIATION AND RELATED JOURNAL ENTRIES...Ch. 7 - BANK RECONCILIATION AND RELATED JOURNAL ENTRIES...Ch. 7 - PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a...Ch. 7 - CASH SHORT AND OVER ENTRIES Listed below are the...Ch. 7 - CHECKING ACCOUNT TERMS Match the following words...Ch. 7 - PREPARE DEPOSIT TICKET Based on the following...Ch. 7 - PREPARE CHECK AND STUB Based on the following...Ch. 7 - BANK RECONCILIATION PROCEDURES In a format similar...Ch. 7 - PREPARE JOURNAL ENTRIES FOR BANK RECONCILIATION...Ch. 7 - PETTY CASH JOURNAL ENTRIES Based on the following...Ch. 7 - CASH SHORT AND OVER ENTRIES Based on the following...Ch. 7 - BANK RECONCILI ATION AND RELATED JOURNAL ENTRIES...Ch. 7 - BANK RECONCILIATION AND RELATED JOURNAL ENTRIES...Ch. 7 - PETTY CASH RECORD AND JOURNAL ENTRIES On July 1, a...Ch. 7 - CASH SHORT AND OVER ENTRIES Listed below are the...Ch. 7 - The current months bank statement for your account...Ch. 7 - Turner Excavation maintains a checking account and...Ch. 7 - Susan Panera is preparing the June 30 bank...

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