Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chavez company most recently reconciled its bank s

Chavez Company most recently reconciled its bank statement and book balances of cash on August...

70.2K

Verified Solution

Question

Accounting

image
image
image
image
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding. Number 5888 for $1,051 and Number 5893 for $489. Check Number 5893 was still outstanding as of September 30 . The following information is available for its September 30 reconciliation. From Chavez Company's Accounting Records Additional Information (a) Check Number 5904 is correctly drawn for $2,065 to pay for computer equipment, however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,026 (b) The NSF check shown in the statement was originally received from a customer, S, Nilson. in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company. Required: 1. Prepare the September 30 bank reconciliation for this company

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

particle of charge per unit massa is released from origin with a velocity v vi...

Geometry
1.2K views

the scalar equation of the plane containing the following 3 points P 2 1 3...

Statistics
1.2K views

In a memory test the test subjects are given a large number and are asked...

Algebra
1.2K views

1 8 8 Evaluate the expression 4 27223 6 Graph y 9 8 Find the...

Accounting
1.2K views

image

Accounting
1.2K views

You manage a risky portfolo with an expected rate of return of 17% and a...

Accounting
1.2K views

Question: How is bond interest income typically taxed for individuals? a) Taxed as...

Accounting
1.2K views

18. The process of transferring the debits and credits from the journal entries to the...

Accounting
1.2K views

. One Trick Pony (OTP) incorporated and began operations near the end of the...

Accounting
1.2K views

Which of the following is true of a tax lien? It is a matter of...

Accounting
1.2K views

ABC, Inc. estimates its sales at units in the first quarter and that sales wil...

Finance
1.2K views

Complete the following exercises, in 2-4 sentences each and include a paragraph explaining how you...