Answer:
PYLE GARAGE | ||
Bank Reconcilitation | ||
March, Year 2 | ||
Particulars | Amount ($) | Amount ($) |
Unadjusted Bank Balance, March,Year 2 | 14,201 | |
Add : Deposit in transit | 3,566 | |
Less: Outstanding Checks | ||
1469 | 1,517 | |
1470 | 761 | |
True Cash Balance,March 31,Year 2 | 15,489 | |
Unadjusted book balance,March 31,Year 2 | 13,110 | |
Add: Collection of Account Receivable | 3,067 | |
Less: | ||
Check Number 1468 deducted with wrong amount (750-95) | 655 | |
Bank Service Charges | 33 | |
True Cash Balance,March 31, Year 2 | 15,489 |
Effect of Adjustments on the cash account will be:
Item No. | Effect on Cash Account |
1 | No effect on Cash Account as it was correctly recorded in cash account. |
2 | Cash will increase |
3 | Cash Account will reduce for recording check number 1468 with lesser amount |
4 | Cash will reduce by $ 33 |
5 | No effect on Cash account as was correctly recorded in cash account. |
6 | No effect on cash account |
The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE...
The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street HAZARD, GA 30321 Account number 62-00062 March 31, Year 2 Beginning balance 3/1/Year 2 $9,070 Total deposits and other credits 30,096 Total checks and other debits 25,024 Ending balance 3/31/Year 2 14,142 Checks and Debits Deposits and Credits Check No. Amount Date Amount 1462 $ 3,795 March 1 $ 1,140 1463 1,684...
The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage Account number 629 Main Street 62-00062 HAZARD, GA 30321 March 31, Year 2 Beginning balance 3/1/Year 2 $9,095 Total deposits and other credits 30, 233 Total checks and other debits 25,231 Ending balance 3/31/Year 2 14,097 Checks and Debits Deposits and Credits Check No. Amount Date Amount 1462 $3,818 March 1 $1,162 1463 1,704 March...
The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage Account number 629 Main Street 62-00062 HAZARD, GA 30321 March 31, Year 2 Beginning balance 3/1/Year 2 $9,063 Total deposits and other credits 30,048 Total checks and other debits 24,959 Ending balance 3/31/Year 2 14,152 Checks and Debits Deposits and Credits Check No. Amount Date Amount 1462 $3,789 March 1 $1,131 1463 1,676 March 2...
The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage Account number 629 Main Street 62-00062 HAZARD, GA 30321 March 31, Year 2 Beginning balance 3/1/Year 2 $9,063 Total deposits and other credits 30,048 Total checks and other debits 24,959 Ending balance 3/31/Year 2 14, 152 Checks and Debits Deposits and Credits Check No. Amount Date Amount 1462 $3,789 March 1 $1,131 1463 1,676 March...
Problem 6-21B Bank reconciliation and adjustments to the cash account The following information is available for Pyle Garage for March Year 1: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage 629 Main Street Hazard, GA 30321 Account number 62-00062 March 31, Year1 Beginning balance V1/Year 1 Total deposits and other credits $15,000.00 7,000.00 Total checks and other debits 6,000.00 16,000.00 Ending balance 3/31/Year 1 Checks and Debits Deposits and Credits Amount $1,000.00 Check No. Amount...
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