Mcgraw hill connect, chapter 8 accounting

McGraw Hill Connect, Chapter 8 Accounting assignment includes:

 

CHAPTER 8 HOMEWORK and CHAPTER 8 QUIZ completed online through McGraw Hill Connect site with my credentials DUE NO LATER THAN Sunday, 04-14-2013

 

AS WELL AS:

 

Upload DOCUMENTS of Chapter 8 TEST submitted to me through homework market DUE NO LATER THAN Sunday 04-14-2013 —- SEE BELOW:

 

For $40.00 total, due no later than 04-14-2013

Down payment of $15

 

Chapter 8 TEST document:

PROBLEM #1 – 22 points

Greenview Food Store developed the following information in recording its bank statement for the month of March 20XX.

                                    Balance per books on March 31   $     829

                                    Balance per bank on March 31     $  7,030

 

1)    Checks written in March but still outstanding, $5,200.

2)    Checks written in February but still outstanding, $1,200.

3)    Deposits of March 30 and 31 not yet recorded by bank, $3,100.

4)    NSF check of customer returned by bank, $400.

5)    Check #210 for $675 was correctly issued and paid by the bank but incorrectly entered in the cash payments  journal as payment on account for $657, for payment to a creditor.

6)    Bank service charge for March was $31.

7)    A payment on account was incorrectly entered into the cash payments journal and posted to the accounts payable subsidiary ledger for $854 when check #318 was correctly prepared for $584. The check cleared the bank in March.

8)    The bank collected a note receivable for the company for $3,000 plus $80 interest.

Instructions:

a)    Prepare a bank reconciliation for the Greenview Food Store for the month of March 31, 20XX.

b)    Journalize the adjusting entries for Greenview Food Store on March 31, 20XX.

 

Bank Reconciliation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Journal Entries:                                                                                                                             

 

General Journal

 

 

Date

Description

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROBLEM  #2 – 18 points

Jenrob Company completed the following selected transactions during January 20XX.

 

      January 1            Established a petty cash fund of $500

                   15 The cash sales for the day per the register tape were $3,018.

                                    The actual cash received from cash sales were $3,011.

                   31 Petty cash on hand was $123. Replenished the petty cash fund for the following

                                    disbursements:

                                    Jan  2 Office supplies, $45

                                          10 Postage due on letter, $29 (Miscellaneous Expense)

                                          14 Office supplies, $56.

                                          17 Postage stamps, $42 (Office Supplies).

                                          20 Express charges on merchandise sold, $136 (Delivery Expense).

                                          22 Repair to desk, $63 (Miscellaneous Expense).

                                          30 Office supplies, $12.

                    31            The cash sales for the day per the register tape were $2,812.

                                    The actual cash received from cash sales were $2,822.

                    31            Decreased the petty cash fund by $100.

 

 

           

General Journal

 

 

Date

Description

Debit

Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense?

 

            Balance in Cash Short/Over? ______________________________

 

            Revenue or Expense? ____________________________________

 

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