Prepare bank reconciliation for donovan company

Assignment Help Financial Accounting

Reference no: EM133563

Question :

Donovan Company received a bank statement for the month of September 2012, which indicates a balance per bank of $4,200. The company's Cash account in the general ledger showed a balance of $2,800 at September 31. Other information that can be relevant in creating bank reconciliation for September follows:

1. The bank returned an NSF check from a customer for $510.

2. The company recorded cash receipts of $810 on September 30 but this amount does not seems on the bank statement.

3. A payroll check properly written and paid by the bank for $1,480 was incorrectly recorded in the cash payments journal for $1,840.

4. Checks which were written in August but still had not been shown to the bank for payment at September 30 amounted to $250.

5. The bank added a credit memorandum for $1,200, which shows a collection of a customer's note by the bank for the company; principal amount of the note was $900 and the remainder was interest.

6. The bank included a $30 debit memorandum for service charges for the month of September.

7. Indentify written in September which have not been paid by the bank at September 30 amounted to $940.

Instructions:

1. Prepare bank reconciliation for Donovan Company for September which reconciles the balance per books and the balance per bank to their adjusted accurate balances.

Reference no: EM133563

Questions Cloud

Evaluate taxable income and the income tax liability : Evaluate taxable income and the income tax liability (before credits or prepayments) on a joint return

Porter''s five forces analysis : PEST analysis, Porter's FIVE forces analysis, Porter's model

How do you define a constant in php : How do you define a constant in PHP. List the different types of errors in PHP.

Essentially analyse the position of the leader : Essentially analyse the position of the leader

Prepare bank reconciliation for donovan company : Prepare bank reconciliation for Donovan Company for September which reconciles the balance per books and the balance per bank to their adjusted accurate balances.

Elaborate on leadership style : Elaborate on leadership style

Using the cost model evaluate the amount : Using the cost model, at what amount could the land be reported in the statement of financial position of Jeng Ting Ltd for each reporting date? Describe your answers.

Examine running staff development programme in education : Examine running staff development programme in education

Evaluate the cost and market value : Since you still own General Motors and General Electric, could these be reclassified to long-term securities?

User Account

All Pages