Prepare a bank reconciliation as of september thirty

Assignment Help Accounting Basics

Reference no: EM131913087

Problem

McDermott Company's bank statement for September 30 showed an ending cash balance of $1,378. The company's Cash account in its general ledger showed a $1,025 debit balance.

The following information was also available as of September 30.

• The bank deducted $135 for an NSF check from a customer deposited on September 15.

• The September 30 cash receipts, $1,270, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement.

• A $17 debit memorandum for checks printed by the bank was included with the canceled checks.

• Outstanding checks amounted to $1,175.

• Included with the bank statement was a credit memo in the amount of $885 for an EFT in payment of a customer's account.

• Included with the canceled checks was a check for $285, drawn on the account of another company.

Required:

a. Prepare a bank reconciliation as of September 30.

Reference no: EM131913087

Questions Cloud

Compute the corresponding z or t value as appropriate : What is the value of the sample test statistic? Compute the corresponding z or t value as appropriate.

How much cash can mcewen company expect to collect : McEwen Company has budgeted the following credit sales. How much cash can McEwen Company expect to collect in November as a result of credit sales?

Calculate what was your percent return : Investment Return HillCom Corp stock was $75.40 per share at the end of last year. Since then, it paid a $2.90 per share dividend last year.

What percent of horse pregnancies are longer : What percent of horse pregnancies are longer than 339 days?

Prepare a bank reconciliation as of september thirty : McDermott Company's bank statement for September 30 showed an ending cash balance of $1,378. Prepare a bank reconciliation as of September 30.

Describe the protein characteristics in manuscript : What would be the best way to describe the protein's characteristics in the manuscript you are writing based on the chart below? You will choose 1 answer.

What is the investment proportion : Assume that you manage a risky portfolio with an expected rate of return of 19% and a standard deviation of 32%. The T-bill rate is 7%.

Record the entry on date of declaration for a cash dividend : Record the entry on the date of declaration for a cash dividend of 50 cents per share payable on the 511,000 shares of stock outstanding.

Odds ratio for the video game exposure : How would you interpret the odds ratio for the video game exposure?

User Account

All Pages