n Documentdoos-MNet ncome Fomuila a The retaned earning & AVON PROucis A Welcome
ID: 2511652 • Letter: N
Question
n Documentdoos-MNet ncome Fomuila a The retaned earning & AVON PROucis A Welcome to AVON Menu ACC211-Financial Accounting My Subscriptions/Courses ACC211-Financial Accounting/Chapter 7/ Chapter 7 homework QUESTION 6 Not complete Points out of 1.00 Pflag question Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30 1 Balance per Cash account, june 30 2 Balance per bank statement, june 30 3 Deposits not reflected on bank statement 4 Outstanding checks,June 30 5 Service charge on bank statement not recorded in books 6 Error by bank-Yertel Company check charged on $7,055.80 7.300.25 725 1,260.45 Young Company's bank statement 7 Check for advertising expense 550 250 520 incorrectly recorded in books as YOUNG COMPANY Bank Reconciliation June 30Explanation / Answer
Balance as perfect cash account, June 30 $7055.80
Less: deposits not reflected on bank statement ($725.00)
Add: outstanding cheques, June $1260.45
Less: service charge on bank statement not
recorded in books ($11.00)
Less: error by banks, Yertel company cheque
charged on Young company bank statement ($550.00)
Add: Cheques for advertising expense incorrectly
recorded in books ($520 - $250) ($270.00)
Balance as per bank statement, June $7300.25
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