Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. journalize the adjusting entries to be made by kin

Journalize the adjusting entries to be made by kingbird, Inc. at August 31. (Credit account...

70.2K

Verified Solution

Question

Accounting

image
image
Journalize the adjusting entries to be made by kingbird, Inc. at August 31. (Credit account titles are automatically indented when amount is entered. Do not inden manually.) Debit Date Account Titles and Explanation Aug. 31 (To record interest earned) Aug. 31 (To correct error in recording check) Aug. 31 (To record service charge and safety deposit box fee) Question 2 Kingbird, Inc.'s bank statement from Main Street Bank at August 31, 2017, gives the following information. Balance A 1 August deposits Check deared in August Bank rememorandum Interest earned $18.70 Bank e mendum 71.370 S ty deposit box fee 68.598 Service charge Balance, August 31 125 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $19,070; receipts $74,370; disbursements $73,490; and balance, August 31, $19,950. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,880 and outstanding checks of $4,580. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. 30-20 20 -10 o 10 10 ? 20 RESET Cancel & Done

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