The Following Information Is Available for George Company at March

question 29

Essay

The following information is available for George Company at March 31:
• Adjusted bank balance as of March 31 was $6,450.
• Outstanding checks totaled $850.
• A customer's check for $260 was returned due to nonsufficient funds.
• March's service charge was $25.
• Bank collected an account receivable of $1,550.
• A new bookkeeper had the following errors:
• A deposit was shown on the bank statement as $965,when the deposit ticket was correctly totaled to be $695.
• Deposits made at month-end totaled $4,516; these were not shown on bank statement.
Prepare a bank reconciliation to determine:
(1)the balance per bank at March 31 before any reconciling items,
(2)the balance in the Cash account at March 31 before any reconciling items.

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Definitions:

Preconventional Morality

Kohlberg’s first level of moral reasoning in which the concrete interests of the individual are considered in terms of rewards and punishments.

Conventional Morality

Kohlberg’s second level of moral reasoning in which people approach moral problems as members of society.

Moral Development

The changes in people’s sense of justice and of what is right and wrong, and in their behavior related to moral issues.

Self-Sacrifice

The act of giving up one's own interests, desires, or well-being for the benefit of others or for a cause.