The Following Information Was Used to Prepare the March 2018

question 16

Essay

The following information was used to prepare the March 2018, bank reconciliation for Walker Machine Works. Identify the items that require adjustment to the cash balance per books and prepare the appropriate adjusting entries.
1. Included with the bank statement materials was a check from Bob Simpson for $40 stamped "NSF."
2. A personal deposit by Annie Walker to her personal account in the amount of $300 for dividends on her General Electric common stock was credited to the company account.
3. The bank statement included a debit memorandum for $22.00 for two books of blank checks for Walker Machine Works.
4. The bank statement contains a credit memorandum for $24.75 interest on the average checking account balance.
5. The daily deposits of March 30 and March 31, for $3,362 and $3,125 respectively, were not included in the bank statement postings.
6. Two checks totaling $316.86, which were outstanding at the end of February, cleared in March and were returned with the March statement.
7. The bank statement included a credit memorandum dated March 28, 2018, for $45.00 for the monthly interest on a 6-month, $15,000 certificate of deposit that the company owns.
8. Four checks, #8712, #8716, #8718, #8719, totaling $5,369.65, did not clear the bank during March.
9. On March 24, 2018, Walker Machine Works delivered to the bank for collection a $4,500,
3-month note from Don Decker. A credit memorandum dated March 29, 2018, indicated the collection of the note and $90.00 of interest.
10. The bank statement included a debit memorandum for $25.00 for the collection service on the above note and interest.

Understand and apply comma rules in complex sentences and when addressing someone directly.

Identify and use commas correctly in lists and series.

Understand the use of commas with conjunctions to separate independent clauses.

Grasp the correct usage of commas with nonrestrictive and restrictive clauses.

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Definitions:

Isotopes

Variants of a particular chemical element that have the same number of protons but different numbers of neutrons.

Evaporation

The process by which water changes from a liquid to a gas or vapor, a key part of the Earth's water cycle and energy balance.

Precipitation

Any form of water, liquid or solid, that falls from the atmosphere and reaches the ground, including rain, snow, sleet, and hail.

Melting

The process of turning a solid into a liquid by applying heat.