Using the Following Information, Record Journal Entries That Would Be

question 26

Essay

Using the following information, record journal entries that would be necessary after preparing the bank reconciliation for Johnson Brothers. All items will not require an entry.
a)The book balance is $5,895.62.
b)Outstanding cheques total $1,233.25.
c)The bank service charge based on the bank statement is $50.
d)A customer's cheque for $500 was returned for non-sufficient funds.
e)A deposit of $3,000 was credited to Johnson Brothers for $300 by the bank.
f)The bookkeeper recorded a $1,200 cheque as $120 in payment of the current month's rent.

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Definitions:

Married People

Married people are individuals who are legally joined in marriage, forming a recognized partnership in personal, social, and legal aspects.

Happy Life

A state of being characterized by feelings of joy, satisfaction, and fulfillment.

Husbands

Men who are married, often involved in a conjugal relationship with their wives, and traditionally associated with roles of provider, protector, or partner.

Wives Earn More

Refers to scenarios in which wives generate a higher income than their husbands in a marriage.