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Category > Accounting Posted 21 Aug 2017 My Price 12.00

Daisy Company

Bank Reconciliation (Appendix) The Daisy Company received a bank statement for February 2007, as follows: From: Central Bank, Denver, Co. 80222

 

To: Daisy Company, 1313 Williams St., Denver, Co. 80218

 

 

 

 

Date

Checks

Deposits

Balance

Feb.   1

 

 

$4,524.80

7

$2,700.33

$8,642.61

 

9

3,484.81

 

 

14

6.00 SC

460.00 CM

 

16

274.09

 

 

21

4,133.60

3,385.49

 

23

69.69 NSF

 

 

28

 

SC  5 Service Charge

 

NSF 5 Check Returned

$6,344.38

 

CM 5 Credit Memo

DM  5 Debit Memo

 

 

The receipt of $460 on February 14 was for a $445 note collected by the bank, plus $20 current interest, less a $5 service charge. The company’s accounting records contained the following information:

 

Cash balance on February 28 from the books: $2,610.42

 

 

 

Cash Disbursements

 

Cash Receipts

 

Check No. 155             $2,700.33

 

Feb.   7

$8,624.61

156              3,484.81

 

21

3,385.49

157

274.09

 

All receipts are verified and correct

158

589.02

 

 

159

4,133.60

 

 

160

2,742.63

 

 

 

Required

 

1.      Prepare a bank reconciliation on February 28, 2007 for the Daisy Company.

2.      Prepare the journal entries that the Daisy Company should record as a result of the reconciliation

Answers

Maurice Tutor
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Status NEW Posted 21 Aug 2017 03:08 PM My Price 12.00

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