Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required: 1. prepare a bank reconciliation for bus

Required: 1. Prepare a bank reconciliation for Business Solutions for the month ended March 31,...

90.2K

Verified Solution

Question

Accounting

image

Required: 1. Prepare a bank reconciliation for Business Solutions for the month ended March 31, 2020. BUSINESS SOLUTIONS Bank Reconciliation March 31, 2020 $ 10,555 Book balance S 11,589 Bank statement balance Add: Bank error $ 2,856 $ 9 9 Add: Bank error 2,856 $ 13,411 Deduct: Bank interest S 11,598 Deduct: Outstanding check 1,829 16 1,829 S Adjusted bank balance 11,582 Adjusted book balance 16 $ 11,582 2. Prepare any necessary adjusting entries. Use Miscellaneous Expenses, for any bank charges. Use Interest Revenue, for any interest earned on the checking account for March. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet

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

Finance
1.2K views

One year? ago, your company purchased a machine used in manufacturing for $ 115,000. You have...

Biology
1.2K views

i. Why does Darwin believe that nature has put such a premium upon the enhanced survival...

Chemistry
1.2K views

Hippuric acid (HC9H8NO3), found in horse urine, has pKa=3.62. Calculate the pH in 0.150 M hippuric acid.

Finance
1.2K views

Financial risk is an important concept for any healthcare manager. The manager must understand how the...

Physics
1.2K views

In Schwarzschild geometry, the distance between two circles with different circumferences is larger than the Euclidean...

Physics
1.2K views

Small charged spheres are arranged as follows: Description Magnitude of Charge x (cm) y (cm) Plastic sphere that was rubbed...

Accounting
1.2K views

Required information Use the following information to answer questions 45-47 Skip to question...

Accounting
1.2K views

INDUSTRIAL ORGANIZATION QUESTION I posted pictures of a question I have and am having problems...

Accounting
1.2K views

1 A company had the following purchases during its first year of operations: Sales January...

Accounting
1.2K views

Given the following information, calculate the break-even ratio on the following commercial property. Operating expenses:...

Accounting
1.2K views

9. What is the estimated raw materials inventory balance at the end of July? ...

Finance
1.2K views

You are considering a 25-year, $1,000 par value bond. Its coupon rate is 9%, and...