Jim Patrick operates a roller skating center, Skatetown USA. He has just received the company's monthly bank statement at March 31 from Ringley National Bank, and the statement shows an ending balance of $710. Listed on the statement are an EFT rent collection of $315. a service charge of $10, two NSF checks totaling $100, and an $11 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $815 and a March 31 deposit in transit of $1,775. During March, he recorded a $210 check for the salary of a part-time employee as $21. Patrick's Cash account shows a March 31 cash balance of $1,865. Read the requirement. Prepare the Bank section, then the Book section of the bank reconciliation to determine how much cash Patrick actually has at March 31. (Include the balances at March 31 in each of the addition subtotal calculations. If an input field is not used in the table leave the field empty; do select a label or enter a zero.) Bank: Add: Subtotal Less Skatetown USA Bank Reconciliation March 31, 2021

Jim Patrick operates a roller skating center, Skatetown USA. He has just received the company's monthly bank statement at March 31 from Ringley National Bank, and the statement shows an ending balance of $710. Listed on the statement are an EFT rent collection of $315. a service charge of $10, two NSF checks totaling $100, and an $11 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $815 and a March 31 deposit in transit of $1,775. During March, he recorded a $210 check for the salary of a part-time employee as $21. Patrick's Cash account shows a March 31 cash balance of $1,865. Read the requirement. Prepare the Bank section, then the Book section of the bank reconciliation to determine how much cash Patrick actually has at March 31. (Include the balances at March 31 in each of the addition subtotal calculations. If an input field is not used in the table leave the field empty; do select a label or enter a zero.) Bank: Add: Subtotal Less Skatetown USA Bank Reconciliation March 31, 2021

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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