Business, 30.07.2021 03:30 emmadivaburnsox7ae9

Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,266.72. The bank statement shows an ending balance of $2,105.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: An ATM withdrawal of $147.00 on November 18 by Lyle for personal use was not recorded on the books. A bank debit memo issued for an NSF check from a customer of $19.60. A bank credit memo issued for interest of $18.00 earned during the month. On November 30, a deposit of $1,176.00 was made, which is not shown on the bank statement. A bank debit memo issued for $18.20 for bank service charges. Checks No. 549, 561, and 562 for the amounts of $172.00, $24.00, and $9.30, respectively, were written during November but have not yet been received by the bank. The reconciliation from the previous month showed outstanding checks totaling $271.95. One of those checks, No. 471 for $18.78, has not yet been received by the bank. Check No. 523 written to a creditor in the amount of $375.00 was recorded in the books as $332.00. Required: 1. Prepare a bank reconciliation as of November 30. Lyle's Salon Bank Reconciliation November 30, 20- Bank statement balance, November 30 Bank statement balance, November 30 11 $ Adjusted bank balance Book balance, November 30 S $ Adjusted book balance 2. Prepare the required journal entries. Page: DATE ACCOUNT TITLE DOC. POST NO. REF. DEBIT CREDIT 1 20-Nov. 30 1 2 2 3 Interest earned for November 4 3 4 S 30 5 6 6 7 8 Unrecorded ATM withdrawal 7 8 30 9 10 10 11 NSF check 11 12 12 1330 13 14 © ED < 5 6 7 00 9 O 12 12 13 30 13 14 14 15 Bank service change 15 16 16 17 30 17 18 18 19 Error in recording Check No. 523 19 O & oljo

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 02:00, johnkings140

Alandowner and his neighbor purchased adjoining undeveloped lots. after both built homes on their respective lots, the landowner suggested to the neighbor that a common driveway be built where the two lots joined. the neighbor agreed. the landowner and the neighbor split the cost of constructing the driveway and entered into a written agreement to equally share the costs of its upkeep and maintenance. the agreement was recorded in the county recorder's office. two years later, the neighbor built a new driveway located entirely on his lot. the common driveway, which the landowner continued to use but which the neighbor no longer used, began to deteriorate. the landowner asked the neighbor for money to maintain the common driveway, but the neighbor refused to contribute. three years later, the neighbor conveyed his lot to a friend. the friend entered into possession and used only the driveway built by the neighbor. by this time, the common driveway had deteriorated badly and contained numerous potholes. the landowner asked the friend to pay half of what it would take to repair the common driveway. the friend refused. the landowner repaired the driveway and sued the friend for 50% of the cost of repairs. will the landowner prevail?

Answers: 2

continue

Business, 22.06.2019 06:20, kingyogii

At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58

Answers: 1

continue

Business, 22.06.2019 12:50, 22iungj

Salaries are $4,500 per week for five working days and are paid weekly at the end of the day fridays. the end of the month falls on a thursday. the accountant for dayton company made the appropriate accrual adjustment and posted it to the ledger. the balance of salaries payable, as shown on the adjusted trial balance, will be a (assume that there was no beginning balance in the salaries payable account.)

Answers: 1

continue

Business, 22.06.2019 13:50, 2023apd

Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.

Answers: 2

continue

You know the right answer?

Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's S...