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Reconciling the Bank Statement On October 31 Showbiz Video received the bank statement

Accounting: First Year Course | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe ISBN: 9780078688294 416

Solution for problem 11-7 Chapter 11

Accounting: First Year Course | 1st Edition

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Accounting: First Year Course | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe

Accounting: First Year Course | 1st Edition

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Problem 11-7

Reconciling the Bank Statement On October 31 Showbiz Video received the bank statement dated October 30. The accountant reviewed it and found the following: 1. The checkbook balance on October 31 is $13,462.96. 2. The ending bank statement balance is $13,883.80. 3. The bank statement shows a service charge of $17.50. 4. Deposits of $675.00 on October 28 and $925.00 on October 29 do not appear on the bank statement. 5. The following checks are outstanding: Check 1766 $125.00 Check 1770 $1,462.19 Check 1768 69.42 Check 1771 381.73 Instructions In your working papers: 1. Record the bank service charge in the checkbook in your working papers. 2. Reconcile the bank statement. 3. Record the entry for the bank service charge on general journal page 13. 4. Post the bank service charge journal entry to the proper ledger accounts.

Step-by-Step Solution:
Step 1 of 3

CONTINUED NOTES: February 1 -5 st th ** All topics covered were stressed by Professor Johnson to write down and study** ******THIS IS NOT THE NOTEPACKET****** 27) Douglas McGregor: Responsible for Theory X and Y, believed no one type of management was worse than the other, best to be interactive and directive Theory X and Y: Perspective of managers, they are a reflection of how managers believe work should be done. Theory X: Directive, Assembly Line Companies Theory Y: Interactive, Google Theory X MGMT Theory Y MGMT Dislike work Willing to work Lack ambition Capable/ creative Follow not lead Self controlled Resist change Self directed Irresponsible

Step 2 of 3

Chapter 11, Problem 11-7 is Solved
Step 3 of 3

Textbook: Accounting: First Year Course
Edition: 1
Author: Glencoe
ISBN: 9780078688294

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Reconciling the Bank Statement On October 31 Showbiz Video received the bank statement