Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following data represents information necessar

The following data represents information necessary to assist in preparing the May 31, 2018 bank...

70.2K

Verified Solution

Question

Accounting

The following data represents information necessary to assist in preparing the May 31, 2018 bank reconciliation for Domore Company.

On May 31, the bank balance was $6,314.
The bank statement indicated a deduction of $17 for all bank service charges.
A customer deposited $1,280 directly into the bank account to settle an outstanding accounts receivable bill.
Check #811 for $1,000 and check #818 for $700 have been recorded in the company ledger but did not appear on the bank statement.
A customer paid an amount of $4,536 to Domore Company on May 31 but the deposit did not appear on the bank statement.
The accounting clerk made an error and recorded a $200 check as $2,000. The check was written to pay an outstanding accounts payable account.
Check #6927 for $160 was deducted from Domore Company's account by the bank. This check was not written by Domore Company and needs to be reversed by the bank.
The bank included an NSF check in the amount of $450 relating to a customers payment. The NSF fee was $12.
The general ledger cash account showed a balance of $6,709 on May 31.

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

3 A loan company will loan up to 60 of the equity in a hom...

Basic Math
Q

If a rock has 1000 atoms of a parent and 3000 atoms of daughter product...

Basic Math
Q

What types of economic process applicate for firing process in tile and brick ?

Civil Engineering
Q

Reflect on the seven aspects of organizational culture. Which of these do you see most strongly...

General Management
Q

y'''-2y"-y'+2y=xex^2+2x a) Find a general solution to the corresponding homogeneous equation, given that e2x is one. b) In...

Advance Math
Q

Question 5 Points 3 As the first American to win the Nobel Prize in literature...

Biology
Q

An electromagnetic wave is propagating in free space in the z direction If the electric...

Physics
Q

Find the first fundamental form of polar coordinate of xy plane First fundamental form of...

Geometry
Q

Match the terms to the correct symbols N gives the Population Mean Sample Mean O...

Statistics
Q

Exercise C Given the following data, prepare a schedule that shows contribution margin, contribution to...

Accounting
Q

When properties transferred by a shareholder in a Section 351 transaction have a net built-in...

Accounting
Q

True or false: If you know the present value and the time that interest is...

Accounting