60.1K

Verified Solution

Link Copied!

solve it, please

Yummy Sweets company bank statement for the month of October shows a balance per bank of $63,487 on October 31, 2019. On this date, the balance of cash per books is $63,724. Using the below information, prepare the bank reconciliation for Yummy Sweets company. 1. The statement included a debit memo of $32 for the printing of additional company checks. 2. On October 11, the company issued check no. 342 for $2,497 to Sofia Aron on account. The check which cleared the bank in October, was incorrectly journalized and posted by Yummy Sweets company for $2,679. 3. October 31 deposits of $1,458 (Received by bank on November 1). 4. Outstanding checks on October 31 totalled $2,431. 5. Yummy Sweets company wrote check no. 322 for $4,392 and the bank correctly paid that amount. However, Yummy Sweets recorded the check as $4,329 6. Included with the cancelled checks was a check issued by Pure Diamond company to Sam Taylor for $1,275 that was incorrectly charged to Yummy Sweets company by the bank. 7. Bank collected $3,200 note for Yummy Sweets Company in October, plus interest $55. The collection fees were $28. The collection has not been recorded by Yummy Sweets, and no interest has been accrued. 8. On October 31, the bank statement showed an NSF charge of $3,249 for a check issued by Tomas Adison, a customer, to Yummy Sweets company on account. Prepare the Yummy Sweets company Bank reconciliation statement for October 2019

Answer & Explanation Solved by verified expert

See Answer