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Homework Answers
Solution
Glover Inc
1. Bank reconciliation for Glover’s checking account on July 31, 2021:
Notes-
Outstanding checks – check no. 534 and 535 with amounts of $860 and $1,260, respectively are outstanding that total to $2,120.
The EFT transfer of $460 relates to office supplies.
Entries that decrease cash:
Add Answer to:
Journal entry worksheet < 1 2 Record the amounts that decrease cash. Note: Enter debits before...
Required information [The following information applies to the questions displayed below.] The cash records and bank...
Required information [The following information applies to the questions displayed below.] The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance Cash Balance July 1, 2021 + Cash Receipts − Cash Disbursements = July 31, 2021 $6,950 $8,300 $8,600 $6,650 Cash Receipts Cash Disbursements Date Desc. Amount Date Check# Desc. Amount 7/9 Sales $ 2,520 7/7 531 Rent $...
Problem 4-3B Part 2 2. Record the necessary cash adjustments. (If no entry is required for...
Problem 4-3B Part 2
2. Record the necessary cash adjustments.
(If no entry is required for a transaction/event, select
"No Journal Entry Required" in the first account
field.)
Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73041 Statement Date: Withdrawals and Beginning Balance Deposits and Credits Debits July 1, 2021 NO. Total NO. Total $7,600 3...
GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 - Cash Balance July...
GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 - Cash Balance July 31, 2021 $6,300 Cash Balance July 1, Cash 2021 + Receipts $7,150 $8,450 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,570 3,150 2,730 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $9,300 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities Advertising Amount $1,510 1,970 3,600 910 1,310 $ 9,300 $ 8,450 Member FDIC 2252790471 P.O....
Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) [The following information applies to...
Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) [The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance July 31, 2021 $5,740 Cash Balance July 1, Cash 2021 + Receipts $ 7,470 $8,690 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Date Amount $2,650 3,230...
Required information (The following information applies to the questions displayed below) The cash records and bank...
Required information (The following information applies to the questions displayed below) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance Cash Balance July 1, Cash Cash 2021 Receipts Disbursements July 31, 2021 $7,190 $8,480 $9,440 $6,230 Cash Receipts Cash Disbursements Date Desc. Amount Date Check Desc. Amount 7/9 Sales $ 2,580 7/7 531 Rent $1,520 7/21 Sales 3,160...
Problem 4-3B Prepare the bank reconciliation and record cash adjustments (L04-5) (The following information applies to...
Problem 4-3B Prepare the bank reconciliation and record cash adjustments (L04-5) (The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance - July 31, 2021 $5,880 Cash Balance July 1, Cash 2021 + Receipts $7,390 $8,630 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,630 3,210 2,790...
The cash records and bank statement for the month of July for Glover Incorporated are shown...
The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance July 31, 2021 $6,580 Cash Balance July 1, Cash 2021 Receipts $6,990 $8,330 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,530 3,110 2,690 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,740 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535...
The cash records and bank statement for the month of July for Glover Incorporated are shown...
The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance - July 31, 2021 $6,510 Cash Balance July 1, Cash 2021 + Receipts $7,030 $8,360 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,540 3,120 2,700 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,880 Cash Disbursements Check# Desc. Rent Salaries Equipment Utilities Advertising л...
Cash Balance July 31, 2021 $6,510 Cash Balance July 1, Cash 2021 + Receipts $7,030 $8,360...
Cash Balance July 31, 2021 $6,510 Cash Balance July 1, Cash 2021 + Receipts $7,030 $8,360 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,540 3,120 2,700 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,880 Cash Disbursements Check Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,480 1,940 3,300 880 1,280 $8,880 $8,360 Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us...
1. Prepare a bank reconciliation for Glover’s checking account on July 31, 2021. (Amounts to be...
1. Prepare a bank reconciliation for Glover’s
checking account on July 31, 2021. (Amounts to be deducted
should be indicated with a minus sign. Total entries to the same
account together when entering in the bank
reconciliation.)
Required information Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) (The following information applies to the questions displayed below.] The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account...
Problem 4-3B Part 2
2. Record the necessary cash adjustments.
(If no entry is required for a transaction/event, select
"No Journal Entry Required" in the first account
field.)
Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us (580) 377-OKIE Account Holder: Glover Incorporated Account Number: 519 Main Street Gotebo, OK 73041 Statement Date: Withdrawals and Beginning Balance Deposits and Credits Debits July 1, 2021 NO. Total NO. Total $7,600 3...
GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 - Cash Balance July 31, 2021 $6,300 Cash Balance July 1, Cash 2021 + Receipts $7,150 $8,450 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,570 3,150 2,730 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $9,300 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities Advertising Amount $1,510 1,970 3,600 910 1,310 $ 9,300 $ 8,450 Member FDIC 2252790471 P.O....
Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) [The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance July 31, 2021 $5,740 Cash Balance July 1, Cash 2021 + Receipts $ 7,470 $8,690 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Date Amount $2,650 3,230...
Required information (The following information applies to the questions displayed below) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance Cash Balance July 1, Cash Cash 2021 Receipts Disbursements July 31, 2021 $7,190 $8,480 $9,440 $6,230 Cash Receipts Cash Disbursements Date Desc. Amount Date Check Desc. Amount 7/9 Sales $ 2,580 7/7 531 Rent $1,520 7/21 Sales 3,160...
Problem 4-3B Prepare the bank reconciliation and record cash adjustments (L04-5) (The following information applies to the questions displayed below.) The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance - July 31, 2021 $5,880 Cash Balance July 1, Cash 2021 + Receipts $7,390 $8,630 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,630 3,210 2,790...
The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance July 31, 2021 $6,580 Cash Balance July 1, Cash 2021 Receipts $6,990 $8,330 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,530 3,110 2,690 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,740 Cash Disbursements Check# Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535...
The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance - July 31, 2021 $6,510 Cash Balance July 1, Cash 2021 + Receipts $7,030 $8,360 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $ 2,540 3,120 2,700 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,880 Cash Disbursements Check# Desc. Rent Salaries Equipment Utilities Advertising л...
Cash Balance July 31, 2021 $6,510 Cash Balance July 1, Cash 2021 + Receipts $7,030 $8,360 Cash Receipts Date Desc. 7/9 Sales 7/21 Sales 7/31 Sales Amount $2,540 3,120 2,700 Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $8,880 Cash Disbursements Check Desc. 531 Rent 532 Salaries 533 Equipment 534 Utilities 535 Advertising Amount $1,480 1,940 3,300 880 1,280 $8,880 $8,360 Member FDIC 2252790471 July 31, 2021 P.O. Box 123878 FIDELITY UNION Gotebo, OK 73041 You Can Bank On Us...
1. Prepare a bank reconciliation for Glover’s
checking account on July 31, 2021. (Amounts to be deducted
should be indicated with a minus sign. Total entries to the same
account together when entering in the bank
reconciliation.)
Required information Problem 4-3B Prepare the bank reconciliation and record cash adjustments (LO4-5) (The following information applies to the questions displayed below.] The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED Cash Account...
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