ACC 201 Week 2 Chapter 4 Problems

Apr 3rd, 2015
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ACC 201 Week 2 Chapter 4 Problems

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Week 2 Assignment 2ACC 201Problem 4-20PROBLEM 4-20Superior Auto Supply, Inc.Bank ReconciliationMay 31, 2012Unadjusted Bank Balance, May 31, 2012$8,000Add: Deposits in Transit$ 975Bank Error6501,625Less: Outstanding Checks #30133853054 73530561,900(3,020)True Cash Balance, May 31, 2012$6,605Unadjusted Book Balance, May 31, 2012$5,565*Add: Note Collected by Bank$ 500Error in recording payment for utilities7001,200Less: Collection Fee10Bank Service Charge25NSF Checks 125(160)True Cash Balance, May 31, 2012$6,605*Unadjusted cash balance per Superior Auto Supply's books is computed as:x + $1,200 ? $160 = $6,605;x = $5,565.Problem 4-21PROBLEM 4-21Reconciling ItemsBook BalanceAdjusted?Added or Subtracted?a.NoNAb.NoNAc.Yes? $9d.Yes+ $330e.NoNAf.Yes? $22g.NoNAh.Yes? $31

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