bank reconciliation, Accounting Basics

Assignment Help:
The cash records and bank statement for the month of May for Diaz Entertainment are shown below.


Prepare the bank reconciliation and record cash adjustments (LO5)



Additional information:

a.The difference in the beginning balances in the company''s records and the bank statement relates to checks #469 and #470, which are outstanding as of April 30, 2012.

b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account.

Related Discussions:- bank reconciliation

Retained earnings account, Closing entries perhaps prepared directly from t...

Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su

Example of current ratio, Q. Example of current ratio? The current asse...

Q. Example of current ratio? The current assets and current liabilities and current ratios of some other companies as of the third quarter of 2001 were As you are able to se

Describe exceptions to the realization principle, Q. Describe Exceptions to...

Q. Describe Exceptions to the realization principle? Exceptions to the realization principle: The following illustrations are instances when practical considerations may cause

AL MASA a sole trader, AL MASA a sole trader,decided to install a new machi...

AL MASA a sole trader,decided to install a new machine to use

Journal entry, What are the golden rule of accounting how to pass journal e...

What are the golden rule of accounting how to pass journal entry when strating bussines what

Explain about the management accounting, Explain about the Management accou...

Explain about the Management accounting Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has bee

what is the equilibrium price and quantity, The widget industry is perfect...

The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Q d = 424 - 40P Q s  = 40 +   8P a.  What is the equi

Requirements for accounting standards, The information contained in publish...

The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca

Explain about long-term assets, Q. Explain about Long-term assets? Long...

Q. Explain about Long-term assets? Long-term assets are assets that a business has on hand or else uses for a relatively long time. Examples include plant, property and equipme

Balance of the merchandise inventory account, Q. Balance of the Merchandise...

Q. Balance of the Merchandise Inventory account? The balance of the Merchandise Inventory account is a cost of the inventory that should be on hand. This fact is a major reason

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd