Bank Recomciliation and entries The cash account for Norwegian...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Bank Recomciliation and entries
The cash account for Norwegian Medical Co at,Apni 30 indicated a batance of 585,920 . The bank statement indicated a batance of $127,910 on Apnt 30 . Companng the bank stasement and the accompanyno canceled checis and memos with the reconds reyealed the folonieng reconcting inent: a. Checks outsanding lotaled $32,540. b. Adeposit of 518,540 , repreventing receipts of Aprit 20 , fad been made too late to appear on the bank statement. c. The bank collected $29,425 on a $27,500 note, induding interest of $1,925. d. Acheck for $1,350 retumed with the statement had been incorrecty recorded by Norwegian Medical Co as $135. The chock was for the payment of an obligason to Universai Supply Co. for a purchase on account e. Acheck drawn for $570 had been enoneoutly charoed by the bank as 5750 I Bank service charges for Apnl amounied to $40 Bank reconcillation and entries Instructions Chart of Aocounts Labels and Amount Descriptions Bswic Reconaliditon Jotimal Final
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: Flex AI - Your personal assistant for all your inquiries!
