Essay
Prepare any necessary journal entries based on the following data regarding the bank reconciliation prepared by Bootlegger Company on February 28, 2019.
a)Outstanding cheques amount to $650.
b)The service charges for February amount to $40.
c)Cheque #665 for $3,525 for the cash purchase of office equipment was erroneously recorded by the bookkeeper as $3,552.
d)The bank erroneously credited Bootlegger Company's account for $300 for a deposit made by Bootlegger Company.
e)A deposit ticket correctly prepared for $975 appeared on the bank statement as a deposit for $795.
f)Cheque #650 for $100 for utilities expense was erroneously recorded by the bookkeeper as $10.
g)A customer's cheque for $250 was returned with the bank statement and stamped NSF.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: In reconciling a bank statement, the bank
Q2: The entry to record the establishment of
Q4: An NSF cheque would be entered into
Q5: A cheque written for $68.30 in payment
Q6: Which of the following would be a
Q7: A cheque cashed by the payee for
Q8: A system that relies on electronic communications,
Q9: Which of the following describes the internal
Q10: An NSF cheque should be added to
Q11: Outstanding cheques in a bank reconciliation should