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The Cash Transactions and Cash Balances of Dodge Inc For

Dodge Inc's cash ledger showed a balance of $6,750 at November 30. The bank statement showed $4,710. Cash received of $3,850 was deposited after banking hours on November 30. Bank charges were $15. A $4,000 note receivable was collected. Check #810 was entered as $340 but was actually $430. Checks #814, #816, and #830 totaling $815 had not cleared yet. A $2,900 check deposited was returned NSF.

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188 views1 page

The Cash Transactions and Cash Balances of Dodge Inc For

Dodge Inc's cash ledger showed a balance of $6,750 at November 30. The bank statement showed $4,710. Cash received of $3,850 was deposited after banking hours on November 30. Bank charges were $15. A $4,000 note receivable was collected. Check #810 was entered as $340 but was actually $430. Checks #814, #816, and #830 totaling $815 had not cleared yet. A $2,900 check deposited was returned NSF.

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amit raaj
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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The cash transactions and cash balances of Dodge Inc for

The cash transactions and cash balances of Dodge, Inc., for November were as follows:1. The
ledger account for Cash showed a balance at November 30 of $6,750.2. The November bank
statement showed a closing balance of $4,710.3. The cash received on November 30
amounted to $3,850. It was left at the bank in the night depository chute after banking hours on
November 30 and therefore was not recorded by the bank on the November statement.4. Also
included with the November bank statement was a debit memorandum from the bank for $15
representing service charges for November.5. A credit memorandum enclosed with the
November bank statement indicated that a non-interest-bearing note receivable for $4,000 from
Wright Sisters, left with the bank for collection, had been collected and the proceeds credited to
the account of Dodge, Inc.6. Comparison of the paid checks returned by the bank with the
entries in the accounting records revealed that check no. 810 for $430, issued November 15 in
payment for computer equipment, had been erroneously entered in Dodge’s records as $340.7.
Examination of the paid checks also revealed that three checks, all issued in November, had
not yet been paid by the bank: no. 814 for $115; no. 816 for $170; no. 830 for $530.8. Included
with the November bank statement was a $2,900 check drawn by Steve Dial, a customer of
Dodge, Inc. This check was marked “NSF.” It had been included in the deposit of November 27
but had been charged back against the company’s account on November 30.Instructionsa.
Prepare a bank reconciliation for Dodge, Inc., at November 30.b. Prepare journal entries (in
general journal form) to adjust the accounts at November 30.Assume that the accounts have
not been closed.c. State the amount of cash that should be included in the balance sheet at
November 30.View Solution:
The cash transactions and cash balances of Dodge Inc for
SOLUTION-- http://solutiondone.online/downloads/the-cash-transactions-and-cash-balances-of-
dodge-inc-for/

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