Description of this paper

Prepare the March bank reconciliation.

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solution


Question

P8-33 Preparing a bank reconciliation and journal entries;This problem continues the Davis Consulting situation from Problem P7-33 of;Chapter 7. Davis?s March Cash T-account from its general ledger is as follows;Cash;Feb 28 Bal 23,115 4,300 March 1 (ck. 207);Mar. 6 Bal 2,930 825 March 14 (ck. 208);Mar. 13 Bal 2,800 1,455 March 14 (ck. 209);Mar. 20 Bal 4,800 190 March 28 (ck. 210);Mar. 27 Bal 3,690 550 March 30 (ck. 211);Mar. 31 Bal 30,015;Davis?s bank statement dated March 31, 2015, follows;Bank Statement for March 2015;Beginning Balance February 28, 2015 $23,510;Deposits and other Credits;Mar. 1 $700;Mar. 8 $2,930;Mar. 14 $2,800;Mar. 20 EFT Hip Hop Hats-a customer $400;Mar. 22 $4,800;Mar. 28 Interest credit $22 $11,652;Checks and other Debits;Mar. 2 EFT to Paper Products $9;Mar. 2 ck# 206 $1,095;Mar. 18 ck# 207 $$4,300;Mar. 19 ck#209 $1,455;Mar. 28 EFT to The Cable Co. $85;Mar. 28 ck# 208 $825;Bank Service Charge $18 (7,787);Ending Balance, March 31, 2015 $27,375;Requirements;1. Prepare the March bank reconciliation.;2. Journalize any transactions required from the bank reconciliation. Compute;the adjusted account

 

Paper#23861 | Written in 18-Jul-2015

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