Get your Assignment in a Minimum of 3 hours
Our academic experts are ready and waiting to assist with any writing project you may have. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs.Free Inquiry Order A Paper Now Cost Estimate
Chung Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on May 31, 2011, its Cash account shows a $15,500 debit balance. Chung’s May 31 bank statement shows $13,800 on deposit in the bank. Prepare bank reconciliation for Chung Company using the following information.
a. May 31 cash receipts of $2,200 were placed in the bank’s night depository after banking hours and were not recorded on the May 31 bank statement.
b. Outstanding checks as of May 31 total $1,600.
c. The May 31 bank statement included a $100 debit memorandum for bank services; Chung has not yet recorded the cost of these services.
d. In reviewing the bank statement, a $400 check written by Wald Company was mistakenly drawn against Chung’s account.
e. A debit memorandum for $600 refers to a $600 NSF check from a customer; Chung has not yet recorded this NSF check.
"Is this question part of your assignment? We Can Help!"
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlinesOrder Paper Now
"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!"Get Started