Question

eptember 30, before reconciliation. The September 30 uded deposits in transit, $6,200, bank service charges, $120; 2,850, outstanding checks, $1,280 and interest credited to $90 ad to reflect the reconciling items for Happ Inc at September 5.) Income Statement Reventos Stockholders' Equity Net income Accounts payable Accounts receivable Cash Interest revenue

Answer 1

If you like my explanation, please give a "thumbs up"

A B с D E F G H J 1 2 3 Assets Balance Sheet Amount Liabilities Amount Equity Amount Net Income Amount -2880 -30 -30 2850 4 Cash Accounts receivables 5 6 7 Reconciled Amount 68700 D 00 9 10 11 Net income Amount Interest Earned 90 Less:Bank Service Charges - 120 Total -30 12 13 14 15 Amount 16 -2850 Cash NSF check by customer Net income Total 17 -30 18 -2880 19 20 21 Reconclied Amount Opening Amount Add: Cash Total Amount 71580 -2880 22 23 68700 24

For calculation ref:

A A B D E F G H 1 2 Assets 2 3 4 5 Amount =-C5+14 Balance Sheet Liabilities Amount Equity Amount Net Income Amount =14 =C13 Cash Accounts receivables 2850 5 6 7 Reconciled Amount =71580+04 8 9 10 11 Net income Amount Interest Earned 90 Less:Bank Service Charges -120 Total =SUM(C11C12) 12 13 14 15 16 Cash NSF check by customer Net income Total Amount |-2850 =C13 =SUM(C16:017) 17 18 19 20 Amount 21 Reconclied Amount Opening Amount Add: Cash Total 22 71580 =C18 =SUM(C21:C22) 23 24