The writer is very fast, professional and responded to the review request fast also. Thank you.
The December cash records of Dunlap Insurance follow:
Cash Receipts Cash Payments
Date Cash Debit Check No. Cash Credit
Dec 4 $ 4,170 1416 $ 860
9 510 1417 130
14 530 1418 650
17 2,180 1419 1,490
31 1,850 1420 1,440
1421 900
1422 630
Dunlap’s Cash account shows a balance of $16,740 at December 31. On December 31, Dunlap Insurance received the following bank statement:
Bank Statement for December
Beginning Balance $13,600
Deposits and other credits:
Dec 1 EFT $300
5 4,170
10 510
15 530
18 2,180
22 BC 1,400 $9,090
Checks and Other debits
Dec 8 NSF $1,000
11 (check no. 1416) 860
19 EFT 700
22 (check no. 1417) 130
29 (check no. 1418) 650
31 (check no. 1419) 1,940
31 SC $60 (5,340)
Ending Balance $17,350
Explanations: BC-bank collection; EFT-Electronic Funds Transfer; NSF-Nonsufficient Funds check;SC-Service charge
Additional data for the bank reconciliation follows:
a. The EFT credit was a receipt of rent. The EFT debit was an insurance payment.
b. The NSF check was received from a customer.
c. The $1,400 bank collection was for a note receivable.
d. The correct amount of check 1419 for rent expense is $1,940. Dunlap’s controller mistakenly recorded the check for $1,490.
Requirements
1. Prepare the bank reconciliation of Dunlap Insurance at December 31, 2012.
2. Journalize any required entries from the bank reconciliation.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more