Bank Reconciliation
The company’s accounting intern has prepared the end-of-January bank reconciliation from the bank statement, and is worried because the adjusted balance amounts do not agree. After reviewing the bank reconciliation, scroll down for the next steps in helping the intern. Murdstone, Inc.
Bank Reconciliation
January 31, 20Y5
Cash balance according to bank statement $23,557.98
Adjustments:
Add: Deposit in transit on January 31 12,125.25
Deduct: Outstanding Check No. 124 $(62.00)
Outstanding Check No. 125 (42.00)
Outstanding Check No. 129 (1,250.00)
Total deductions (1,354.00)
Adjusted balance $34,329.23
Cash balance according to Murdstone, Inc. $51,596.88
Adjustments:
Add: Note and interest collected by bank 15,250.75
Deduct: Check returned because of insufficient funds $(23,475.40)
Bank service charge (250.00)
Error in recording Check No. 123 (9,000.00)
Total deductions (32,725.40)
Adjusted balance $34,122.23

For each example identify the most appropriate ctso

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

According to the naeyc curriculum is effective when all of the following occur except