Solution-Prepare the required journal entries

Prepare the required journal entries

Assignment Help Accounting Basics

Reference no: EM131767179

The book balance in the checking account of Kyri Enterprises as of November 30 is $2,964. The bank statement shows an ending balance of $2,525. The following information is discovered by (1) comparing last month's deposits in transit and outstanding checks with this month's bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement.

Deposits in transit:	11/29	$125
11/30	200
Outstanding checks:	No. 322	17
No. 324	105
No. 327	54
Unrecorded ATM withdrawal:*	100
Bank service charge:	25
NSF check:	185

Error on Check No. 321 Checkbook shows it was for $64, but it was actually written for $44. Accounts Payable was debited.

*Funds were withdrawn by Susan Kyri for personal use.

Required:

1. Prepare a bank reconciliation as of November 30, 20--.

2. Prepare the required journal entries.

Reference no: EM131767179

Questions Cloud

Define mean conductivity of the type of glass : Heat through the glass How well materials conduct heat matters when designing houses, for example. Conductivity is measured in terms of watts of heat power.

Determine the payback period and unadjusted rate of return : Quentin Giordano owns a small retail ice cream parlor. Determine the payback period and unadjusted rate of return (use average investment) for each alternative

Address unresolved issues in macroeconomics : Taking monetary policy decision-making authority from the Federal Reserve and placing that authority - Federal budget by requiring a balanced Federal government

Compensated elasticity of labour supply : An individual currently (5) works 2000 hours per year and earns $30 per hour. Find the excess burden of an income tax at 25%.

Prepare the required journal entries : Prepare the required journal entries, The book balance in the checking account of Kyri Enterprises as of November

Discuss effects of poor forecasts on capacities-schedules : Discuss the effects of poor forecasts on capacities and schedules. Discuss the choice of the proper data to use for forecasts.

Calculate the present value index for each alternative : he large trucks are expected to cost $600,000 and to have a four-year useful life and a $60,000 salvage value,Calculate present value index for each alternative

How does the change in transistor effect current and voltage : If the NPN transistor is replaced with a PNP transistor, how does the change in the transistor effect the current and voltage in the circuit?

Explain the ten most important public health problems : Patients need to be involved in their care in order to feel empowered. This will motivate them to take action into their own hands to improve their health .

User Account

All Pages

Prepare the required journal entries

Reference no: EM131767179

Reference no: EM131767179

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT