Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 8-14 (algo) bank reconciliation lo p3 wri

Exercise 8-14 (Algo) Bank reconciliation LO P3 Wright Company's cash account shows a $30,100 debit...

50.1K

Verified Solution

Question

Accounting

image
image
Exercise 8-14 (Algo) Bank reconciliation LO P3 Wright Company's cash account shows a $30,100 debit balance and its bank statement shows $28,400 on deposit at the close of business on May 31 a. The May 31 bank statement lists $230 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,900. c. May 31 cash receipts of $7,500 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement. d. In reviewing the bank statement, a $530 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $340 NSF check from a customer, the company has not yet recorded this NSF check. Check m \begin{tabular}{|l|l|l|l|l|} \hline Bank statement balance & Bank Reconciliation \\ \hline Add & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline Deduct: & & & \\ \hline & & & & \\ \hline & & & \\ \hline \end{tabular}

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

Geometry
1.2K views

What are the solutions to the equation 9 07

Biology
1.2K views

ara+ and lac+ are genes required for metabolizing the sugars arabinose and lactose, respectively, and ala+ and...

Medical Sciences
1.2K views

Why does ventilation increase non-linearly (break away) with increasing intensity of exercise? Does exercise training affect the \"ventilatory...

Basic Math
1.2K views

In the following problem, check that it is appropriate to use the normal approximation to the...

Biology
1.2K views

The type of photophosphoryla tion that is only involved in making energy not food is...

Physics
1.2K views

A 6.0-kg box slides down an inclined plane that makes an angle of 39 with...

Basic Math
1.2K views

nSeveral years ago, 51% of parents with children in grades K-12 were satisfied with the...

Algebra
1.2K views

II Find the area of the ff shapes 10 pts each 1 4 cm P...

Accounting
1.2K views

Oriole CPA firm prepares approximately 1056 individual tax returns each year. Since a majority of...

Accounting
1.2K views

A company has the following: Dec. 1 Beginning inventory 15 units at $60 ...

Finance
1.2K views

What is the CAPM implied expected return on a stock with: Beta is 1.18 Market...

Accounting
1.2K views

Rogers Sports sells volleyball kits that it purchases from a sports equipment distributor. The following...