Rick Hall owns a card shop: Hall’s Cards. The following cash information is available for the month of August Year 1. As of August 31, the bank statement shows a balance of $13,250. The August 31 unadjusted balance in the Cash account of Hall’s Cards is $9,564. A review of the bank
Rick Hall owns a card shop: Hall’s Cards. The following cash information is available for the month of August Year 1. As of August 31, the bank statement shows a balance of $13,250. The August 31 unadjusted balance in the Cash account of Hall’s Cards is $9,564. A review of the bank
Chapter7: Payroll
Section: Chapter Questions
Problem 1.13C
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Rick Hall owns a card shop: Hall’s Cards. The following cash information is available for the month of August Year 1.
As of August 31, the bank statement shows a balance of $13,250. The August 31 unadjusted balance in the Cash account of Hall’s Cards is $9,564. A review of the bank statement revealed the following information:
- A deposit of $1,250 on August 31, Year 1, does not appear on the August bank statement.
- It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,750 but was recorded on the books as $2,650.
- When checks written during the month were compared with those paid by the bank, three checks amounting to $4,095 were found to be outstanding.
- A debit memo for $59 was included in the bank statement for the purchase of a new supply of checks.
Section A:
Record the entry to correct the error created while recording check for inventory.
Section B: Record entry for office supplies expenses.
Transcribed Image Text:Journal entry worksheet
A
в
Record the entry to correct the error created while recording check for
inventory.
Note: Enter debits before credits.
Event
General Journal
Debit
Credit
1
Transcribed Image Text:Journal entry worksheet
A
в
Record entry for office supplies expenses.
Note: Enter debits before credits.
Event
General Journal
Debit
Credit
2
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