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Problem 6.9

prepare bank reconiliation

Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. Problem 4-3A (Static) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Problem 4-3A (Algo) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the month of May for Daniels Entertainment are shown below. Journal entry worksheet Note: Enter debits before credits. Brief Exercise 4-4 (Static) Identify cash and cash equivalents (LO4-3) Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet: a minus sign. Total entries to the same account together when entering in the bank reconciliation.) Prepare a bank reconciliation for Daniels's checking account on May 31, 2024. (Amounts to be deducted sho with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks number 469 and number 470, which are outstanding as of April 30,2024 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account. Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2024. 2. Record the necessary cash adjustments. Complete this question by entering your answers in the tabs below. Brief Exercise 4-7 (Static) Identify terms associated with a bank reconciliation (LO4-5) Select the appropriate term associated with a bank reconciliation for each of the following descriptions. Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits. Description DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card Description DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits

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