My first Hard Question with 5 steps need Answers
Q. (a) Bluegrass Tonight is a nightclub in Nashville. The information necessary for preparing bank reconciliation for the company at November 30 appears below:
1. As of November 30, cash per the bank statement is $41,631 per the accounting records, $48,609.
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper Now2. Cash receipts of $9,366 on November 30 were not deposited until December 1.
3. Among the paid checks returned by the bank was a stolen check for $1,512 paid in error after Bluegrass Tonight had officially notified the bank not to make payment. Thus, payment of this check was a bank error and should not have been charged against Bluegrass Tonight’s bank account.
4. The following memoranda accompanied the bank statement:
a. A debit memo for service charges $21
b. A debit memo attached to an $1,167 check which Bluegrass had accepted from a customer and deposited in its account, but which the bank had returned with the marking “NSF”
c. A credit memo for interest earned on the account during November, $135.
5. The following checks had been issued by the nightclub but had not been paid by the bank as of November 30: No.921 for $2,346; No. 924 for $1,446; and No. 925 for $1,161.
Instructions: Prepare the November 30 bank reconciliation. Pass necessary journal entries
"Looking for a Similar Assignment? Order now and Get 10% Discount! Use Code "Newclient"
