Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following adjustments were used as part of the bank reconciliation: Outstanding cheques Bank service charges...

1 answer below »

Joey Co just completed it's bank reconciliation for the year-ended December 31,<br>20x1. The following adjustments were used as part of the bank reconciliation:<br>Outstanding cheques<br>Bank service charges<br>$2,100<br>300<br>Non-sufficient fund cheques from customers<br>removed from bank account<br>200<br>Deposits in transit<br>1,700<br>A cheque from a customer was incorrectly recorded as $500<br>when it should have been recorded as $2,500.<br>What is the total adjustment required to cash in the general ledger?<br>

Extracted text: Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following adjustments were used as part of the bank reconciliation: Outstanding cheques Bank service charges $2,100 300 Non-sufficient fund cheques from customers removed from bank account 200 Deposits in transit 1,700 A cheque from a customer was incorrectly recorded as $500 when it should have been recorded as $2,500. What is the total adjustment required to cash in the general ledger?

Answered 77 days AfterJun 06, 2022

Answer To: Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following...

Harshit answered on Aug 23 2022
69 Votes
Sheet1
    Total adjustment required in cash general ledger
    Error on cheque (2500-500)     2000
    Less

    Bank Service Charges    -300
    NSF Check    -200
    Total adjustment required in cash general ledger    1500
    Working Notes
    Total investment required in cash general ledger is $1500.
    Deposit in transit...
SOLUTION.PDF
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here
Have files?