Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following is a list of checks and deposits rec

The following is a list of checks and deposits recorded on the books of Pyle...

70.2K

Verified Solution

Question

Accounting

The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year 2:
Date Check Number Amount of Check Date Amount of Deposit
March 11463 $ 1,668 March 1 $ 6,526
March 514648,023 March 54,958
March 614652,924
March 914661,428 March 106,198
March 1014676,209
March 141468110 March 165,990
March 1914691,526 March 192,113
March 281470767 March 293,575
Other Information
Check number 1462 was outstanding from February.
A credit memo for collection of accounts receivable was included in the bank statement.
All checks were paid at the correct amount.
The bank statement included a debit memo for service charges.
The February 28 bank reconciliation showed a deposit in transit of $1,123.
Check number 1468 was for the purchase of equipment.
The unadjusted Cash account balance at March 31 was $13,096.
Required:
Prepare the bank reconciliation for Pyle Garage at the end of March.
Explain how the adjustments described above affect the cash account.

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