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katovenus [111]
3 years ago
11

Bank reconciliation information for Kaden Co. for May 31 is as follows: (a) The bank statement balance is $2,936. (b) The cash a

ccount balance is $3,194. (c) Outstanding checks amounted to $465. (d) Deposits in transit are $655. (e) The bank service charge is $50. (f) A check for $97 for supplies was recorded as $79 in the ledger. Required: Record the appropriate journal entry for Kaden Co. Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
g100num [7]3 years ago
5 0

Answer:

bank service expense 50 debit

supplies                        18 debit

             cash                           68 credit

--to record bank reconciliation--

Explanation:

We have to adjust the cash balance for the transactions unknow for the company which are the bank service charge of $50 and the mistake in the accounting  for $18

we actually spend 97 but recorded 79 thus, we increase supplies by 18

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1. A company expects to sell 400 units of Product X in January and then expects sales to increase by 10% per month. If Product X
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1. $13,240

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The question is answered as follows

Part 1: Determine the total sales for the first quarter as follows

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3 0
3 years ago
Read 2 more answers
A cash payment received from a customer for a product purchased on account would be recorded as...
photoshop1234 [79]
A cash payment received from a customer for a product purchased on account would be recorded as DEBIT TO CASH AND CREDIT TO ACCOUNT RECEIVABLE.  Cash is debited because cash has been received by the company and it has to be debited to the asset account of cash. The account receivable is credited to record the fact that money has been received. 
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