Question

TIUNTIVOIR. OlaplelTUUTIOITVO Score: 0 of 1 pt 4 of 12 (4 complete) E7-21 (similar to) O'Hara Photography's checkbook lists the following: (Click the icon to view the checkbook.) O'Hara's November bank statement shows the following: (Click the icon to view the November bank statement.) Read the requirements Requirement 1. Prepare O'Hara Photography's bank reconciliation at November 30, 2018 Prepare the bank portion of the reconciliation, followed by the book portion of the reconciliation. (If a box is not used in the table leave the box empty, do not select a label or enter a zero.) O'Hara Photography Bank Reconciliation November 30, 2018 Bank: 0 Requirements ADD: L LESS 1. Prepare O'Hara Photography's bank reconciliation at November 30, 2018 2. How much cash does O'Hara actually have on November 30, 2018? 3. Journalize any transactions required from the bank reconciliation Print Done

Answer 1

Prepare bank reconciliation statement as follows: O'Hara Photography Bank Reconciliation Statement November 31, 2018 Balance as per bank statement Add: Deposit in transit $375 $1,215 $1,590 -$75 Less: outstanding checks: Check # 626 Check # 627 Adjusted cash balance -$260 T -$335 $1,255 $1,315 Balance as per books of account Add: Collection of Note by Bank (If any) $1,315 Less: Printed check charge Service charges Error in check # 624 (90-70) Adjusted cash balance -$20 -$20 -$20 -$60 $1.255 O'Hara actually have $1,255 cash on November 30, 2018.

Prepare the journal entries as follows: Credit Debit $20 Date Account title & explanation 30-11 Utilities expense Cash (To correct error in check mimber # 624) $20 $20 30-11 Bank expense Cash (To record Service charges.) $20 $20 30-11 Bank expense Cash |(To record printed check charges.) $20