Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. help asap!! exercise 6-14 (algo) bank reconcili

help asap!! Exercise 6-14 (Algo) Bank reconciliation LO P3 Wright Company's cash...

60.1K

Verified Solution

Question

Accounting

help asap!! image
Exercise 6-14 (Algo) Bank reconciliation LO P3 Wright Company's cash account shows a $31,300 debit balance and its bank statement shows $29,600 on deposit at the close of business on May 31. a. The May 31 bank statement lists $290 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $7,500. c. May 31 cash receipts of $8,100 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement. d. In reviewing the bank statement, a $590 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a \$220 NSF check from a customer, the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information

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!
Become a Member

Other questions asked by students

Q

Please explain the process of Excitation-Contraction Coupling. Make sure to discuss all channels and structures involved, including...

Medical Sciences
Q

When hiring an employee, which do you believe is more important: person-organization fit or person-job fit?...

General Management
Q

How do the features of a larval tunicate differ from an adult tunicate Check all...

Biology
Q

56 Three resistances P Q R each of 2 92 and a unknown resistance S...

Physics
Q

Physical capital investment by firms is usually undertaken when firms have a positive outlook for...

Basic Math
Q

Utilize the Difference of Squares method to find an equivalent expression for the following:16x -...

Basic Math
Q

A sphereing ball contains a sphere within a sphere. The diameter of the inner sphere...

Basic Math
Q

Brief Exercise C-8 Calculate the future value of an annuity (LOC-3) Tom and...

Accounting
Q

Download the Name Personal Monthly Budget workbook and rename it XLastname Personal Monthly Budget replacing...

Accounting
Q

Absorption Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations...

Accounting
Q

SAINT VINCENT DE FERRER COLLEGE BS ACCOUNTANCY (1t semester SY 2018-2019) ONLINE RESOURCES by Prof....

Accounting
Q

I need to create a Car wash company and do a budget for a Car...

Accounting