Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. del gato clinic deposits all cash receipts on the

Del Gato Clinic deposits all cash receipts on the day when they are received all...

90.2K

Verified Solution

Question

Accounting

image

Del Gato Clinic deposits all cash receipts on the day when they are received all pay- ments by check. At the close of business on June 30, 2017, its Cash account shows an $11,589 debit bal ance. Del Gato Clinic's June 30 bank statement shows $10,555 on deposit in the bank. Prepare a bak reconciliation for Del Gato Clinic using the following information: a. Outstanding checks as of June 30 total $1,829. b. The June 30 bank statement lists a $16 bank service charge c. Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of a utiliy and it makes cash ise 6-9 econciliation bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $476. d. The June 30 cash receipts of $2.856 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement

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