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Handling Deposits On October 4 the owner of Wilder ness Rentals deposited the following
Chapter 11, Problem 11-3(choose chapter or problem)
Handling Deposits
On October 4 the owner of Wilderness Rentals deposited the following in the business checking account at First National Bank. The beginning balance in the account is $3,306.54 before these transactions.
Cash: Currency, $374.00; Coins, $7.42
Checks: Bob Warner, drawn on Consumers
Bank, ABA No. 63-706; $64.98
Joan Walkman, drawn on Mountain
Bank, ABA No. 63-699; $349.81
Ernesto Garcia, drawn on Progressive
Savings and Loan, ABA No. 63-710; $29.44
Instructions In your working papers:
1. Place a restrictive endorsement on each check. Use Wilderness Rentals.
2. Fill out a deposit slip. Use the ABA number to identify each check.
3. Record the deposit in the checkbook on Check Stub 651.
Questions & Answers
QUESTION:
Handling Deposits
On October 4 the owner of Wilderness Rentals deposited the following in the business checking account at First National Bank. The beginning balance in the account is $3,306.54 before these transactions.
Cash: Currency, $374.00; Coins, $7.42
Checks: Bob Warner, drawn on Consumers
Bank, ABA No. 63-706; $64.98
Joan Walkman, drawn on Mountain
Bank, ABA No. 63-699; $349.81
Ernesto Garcia, drawn on Progressive
Savings and Loan, ABA No. 63-710; $29.44
Instructions In your working papers:
1. Place a restrictive endorsement on each check. Use Wilderness Rentals.
2. Fill out a deposit slip. Use the ABA number to identify each check.
3. Record the deposit in the checkbook on Check Stub 651.
ANSWER:
Problem 11-3
Handling Deposits
On October 4 the owner of Wilderness Rentals deposited the following in the business checking account at First National Bank. The beginning balance in the account is $3,306.54 before these transactions.
Cash: Currency, $374.00; Coins, $7.42
Checks: Bob Warner, drawn on Consumers
Bank, ABA No. 63-706; $64.98
Joan Walkman, drawn on Mountain
Bank, ABA No. 63-699; $349.81
Ernesto Garcia, drawn on Progressive
Savings and Loan, ABA No. 63-710; $29.44
Instructions. In your working papers:
1. Place a restrictive endorsement on each check. Use Wilderness Rentals.
2. Fill out a deposit slip. Use the ABA number to identify each check.
3. Record the deposit in the checkbook on Check Stub 651.
Step by Step Solution
Step 1 of 4
Deposit is the amount of money deposited by customers to their bank accounts. It’s used for saving their money for their future use. Some of the deposits consist of interest rates in which they can earn some cumulative amount at a future date on the date of maturity.