Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc company has bank balance on june 30, 2019...

ABC company has bank balance on June 30, 2019...

80.2K

Verified Solution

Question

Accounting

image

ABC company has bank balance on June 30, 2019 is $67,510, and the book balance at this month-end is $53,090. The other information is as followings: a Checks outstanding totaled $7,570 b. A deposit of $5,600 in transit c. A check for $100 in payment of an account was erroneously recorded by ABC Company's cash registrar as $1,000 d. The bank collected $12,500 (for ABC Company) on a note left for collection. No interest was included in payment by the customer. e. Bank service charges for this month is $7:5 f Check of a customer returned by bank to company because of insufficient funds (NSF), $880 Q1: Please work on bank reconciliation for the year end of 2016 below (22 points): ABC Company Bank Reconciliation June 30, 2019 $53,090 Cash balance 6/30 19 per bank $67,510 Cash balance 6/30/19 per book Add: 5600 73110 Add Depost not recorded by bank

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Suzanne's Cleaners is considering two projects with the following cash flow data. Based on payback periods,...

Finance
Q

How was Raymond Dart able to determine that the Taung Child was a hominin? Why were others...

Biology
Q

Prepare a short report that technically and economically evaluates the differences between ZLD (zero-liquid-discharge) and MLD (minimum-liquid...

Civil Engineering
Q

A First Course in Abstract Algebra Chapter S.22, Problem 27E Let F be a field of characteristic...

Advance Math
Q

A museum charges $7 per person for a guided tour with a group of 1...

Basic Math
Q

Given P x x x 16x16 find the zeros 3 real and non real of...

Algebra
Q

Waterways mass produces a special connector unit that it normally sells...

Accounting
Q

Parker, age 48, has a traditional IRA with a balance of $50,000. The $50,000 balance...

Accounting
Q

Question-5: Bliss Company wants to open a new spa in a nearby plaza. Bliss Company...

Accounting
Q

Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales...

Accounting
Q

Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. ...

Accounting
Q

please graph and work out; no excel. please and thank you 1....

Finance