Prepare Any Necessary Journal Entries Based on the Following Data

question 68

Essay

Prepare any necessary journal entries based on the following data regarding the bank reconciliation prepared by Ragoon Services on May 31, 2019.
a)Outstanding cheques amount to $1,650.
b)The service charges for May amount to $35.
c)Cheque #665 for $3,640 for the cash purchase of office equipment was erroneously recorded by the bookkeeper as $364.
d)The bank erroneously credited Ragoon Services' account for $300 for a deposit made by Lagoon Company.
e)A deposit ticket correctly prepared for $975 appeared on the bank statement as a deposit for $795.
f)Cheque #650 for $1,000 for utilities expense was erroneously recorded by the bookkeeper as $100.
g)A customer's cheque for $450 was returned with the bank statement and stamped NSF.

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Definitions:

Water Molecule

the smallest unit of water (H2O), consisting of two hydrogen atoms bonded to one oxygen atom.

Electron Shells

Regions around an atom's nucleus where electrons are likely to be found, each shell having a fixed capacity for electrons.

Magnesium

a lightweight, silvery-white metallic element that is essential for both plant and animal life.

Neutrons

Neutral particles found in the nucleus of an atom, with no electric charge.