Starting question Chart of Accounts Journal structions he da

Starting question Chart of Accounts Journal structions he data were gathered to use in reconciling the bank account of Eves Company Balance per company records Bank service charges Deposit in transit NSF check $9,945 9,295 35 2,135 1,820 4,640 Instructions A What is the adjusted balance on the bank reconciliation? B. On March 1, joumalize any necessary entries tion. Refer to the Chart of Accounts for exact

Solution

ANSWER =A Eves Company Bank Reconciliation Statement Particulars Amount Amount Balance as per Book (A) $9,295.00 Add: Outstanding Cheques $4,640.00 Total of Addition (B) $4,640.00 Total (C = A + B) $13,935.00 Less: Deposit but not recorded in bank $2,135.00 NSF Cheques $1,820.00 Bank charges not taken in the books $35.00 D = Total of Deuctible $3,990.00 Balance as per bank Statement (C+D) $9,945.00 ANSWER =B JOURNAL ENTRIES Journal Entries Date Account Title and explanation Debit Credit 1 Bank Chargres $                                35      To Cash $                       35.00 (To Record the Bank charges)