Adjustments to the cash account based on the bank reconciliation
Required
Determine whether the following items included in Yang Company’s bank reconciliation will require adjusting or correcting entries on Yang’s books. When an entry is required, record it in general journal format.
a. An $877 deposit was recorded by the bank as $778.
b. Four checks totaling $450 written during the month of January were not included with the January bank statement.
c. A $54 check written to Office Max for office supplies was recorded in the general journal as $45.
d. The bank statement indicated that the bank had collected a S330 note for Yang.
e. Yang recorded S500 of receipts on January 31, 2011, which was deposited in the night depository of the bank. These deposits were not included in the bank statement.
f. Service charges of $22 for the month of January were listed on the bank statement.
g. The bank charged a $297 check drawn on Cave Restaurant to Yang’s account. The check was included in Yang’s bank statement.
h. A check of S3l was returned to the bank because of insufficient funds and was noted on the bank statement. Yang received the check from a customer and thought that it was good when it was deposited into the account.
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