Accounting Chapter 5 Application, Mastery , and Challenge

Accounting Chapter 5 Application, Mastery , and Challenge Problems Name: _____________________________ Objective:

Apply skills learned in Chapter 5

Complete the chapter 5 Application Problems and Mastery Problem as follows: Application Problem 5-1: complete on worksheets provided Application Problem 5-2 and 5-3: Interactive spreadsheet. o Links are on the website calendar. Application Problem 5-4: complete on worksheets provided Mastery Problem 5-5: QuickBooks o We will complete this together as a class Challenge Problem 5-6 – complete on worksheets provided 1. Compare the canceled checks with the check stubs. For each canceled check, place a check mark next to the appropriate check stub number. For each deposit shown on the bank statement, place a check mark next to the deposit amount on the appropriate check stub. 2. Prepare a bank statement reconciliation. Use August 29 of the current year as the date. 3. Record the following transaction on page 8 of the general journal. a. Sept. 1 Received bank statement showing August bank service charge, $5.00 M25 b. Sept. 1 Received notice from the bank of a dishonored check from Sheldon Martindale, $170, plus $5.00 fee: total $175.00. M26 4.

Record the bank service charge and dishonored check on Check Stub No. 165

Print out all problems completed on the computer and staple to this packet for grading