Highlight Hotel Deposits All Cash Receipts on the Day When

question 93

Essay

Highlight Hotel deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on December 31, its Cash account shows a $18,393, debit balance. Highlight Hotel's June 30 bank statement shows $15,921 on deposit in the bank. Prepare the necessary adjusting journal entries using the following information:
1.Outstanding checks as of December 31 total $2,261.
2.The December 31 bank statement included a $35 debit memorandum for bank services.
3.Check No. 2519, listed with the canceled checks, was correctly drawn for $850 in payment of a utility bill on December 16. Highlight Hotel mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $805.
4.The December 31 cash receipts of $3,425 were placed in the bank’s night depository after banking hours and were not recorded on the December 31 bank statement.
5.The bank statement included a check from a customer’s payment of an account receivable that had been returned NSF in the amount of $1,228.
Prepare the necessary adjusting journal entries.

---

Definitions:

Clinical Trials Research

The systematic study designed to evaluate the effects and safety of medications or medical devices by monitoring their outcomes on large groups of people.

Solution-Focused Therapy

A brief therapeutic approach focusing on finding solutions in the present time and exploring one’s hope for the future to find quicker resolutions of one’s problems.

Exception-Finding Questions

Therapeutic questions designed to help individuals identify and examine instances where their problem does not occur, challenging negative generalizations.

Scaling Questions

A technique used in solution-focused therapy to help clients rate their feelings, behaviors, or perceptions on a scale, facilitating awareness and goal setting.