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sukhopar [10]
3 years ago
13

From the following particulars of Purple New Co., prepare the bank reconciliation statement as on May 31, 2016.

Business
1 answer:
juin [17]3 years ago
5 0

Answer:

Explanation:

Bank reconciliation statement:

Cash account balance $3950

Less: Deposit in transit ($900)

Less: Bank service charges ($75)

Add: Interest added to the checking account by the bank $150

Add: Checks outstanding $960

Less: Check drawn incorrectly charged by the bank ($85) [150-65]

Adjusted balance $4,000

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Marker Corp. exchanged an old truck for a piece of equipment and cash on January 1st 2019. The truck was purchased at a cost of
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There is a 1,500 gain

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we have commercial subtance so we can recognize gain/loss

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the journal entry would be

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