The bank statement for Dillon Company indicates a balance of $1,730 on June 30. The cash balance per books had a balance of $799 on this date.
The bank statement for Dillon Company indicates a balance of $1,730 on June 30. The cash balance per books had a balance of $799 on this date. The following information pertains to the bank transactions for the company.
1. Deposit of $760, representing cash receipts of June 30, did not appear on the bank statement.
2. Outstanding checks totaled $340.
3. Bank service charges for June amounted to $25
4. The bank collected a note receivable for the company for $1,400 plus $56 interest revenue. 5. An NSF check for $80 from a customer was returned with the statement.
a. Prepare a bank reconciliation for June 30. (20 points)
b. Prepare any adjusting entries necessary as a result of the bank reconciliation. (10 points)
Homework Answers
Add Answer to:
The bank statement for Dillon Company indicates a balance of $1,730 on June 30. The cash balance per books had a balance of $799 on this date.
The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash balance per books had a balance of $390 on this date.
Exercise 219 The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash balance per books had a balance of $390 on this date. The following information pertains to the bank transactions for the company. 1. Deposit of $840, representing cash receipts of July 31, did not appear on the bank statement. 2. Outstanding checks totaled $390. 3. Bank service charges for June amounted to $30. 4. The bank collected a note receivable for the company for $1,200 plus $48 interest...
The bank statement for Urethane Company for June 30 indicates a balance of All cash receipts...
The bank statement for Urethane Company for June 30 indicates a balance of All cash receipts are deposited in a night depository each evening after banking $9,293.11 pts The accounting records indicate the following summary data for cash recei ments for June: Cash balance as of June 1 Total cash receipts for June Total amount of checks issued in June $3,943.50 28,971.60 28,388.85 Comparing the bank statement and the accompanying canceled checks and memos w the records reveals the following...
3. The bank statement for Indiana Inc. shows an unadjusted balance of $2,330 at June 30, 2018, while the unadjusted cash...
3. The bank statement for Indiana Inc. shows an unadjusted balance of $2,330 at June 30, 2018, while the unadjusted cash balance per books was $599. The following information pertains to the bank transactions for the company. (20 marks) 1. Deposits of $160, representing cash receipts of June 30, did not appear on the bank statement. 2. Outstanding cheques totalled $240. 3. Bank service charges for June were $9. 4. Electronic collections on account totalled $1,740, and have not yet...
QUESTION 4 The following information is collected when recording Scofield Company bank statement for the month of June. RM7,328 Balance per books June 30 Balance per bank statement June 30 RM21,800 C...
QUESTION 4 The following information is collected when recording Scofield Company bank statement for the month of June. RM7,328 Balance per books June 30 Balance per bank statement June 30 RM21,800 Checks written in June but still outstanding RM14,009 Checks written in Maybut still outtanding RM6,200 Deposits of June 29 and 30 not yet recorded by bank RM10.400. . NSF check of customer returned by bank RM2.400, . Check No. 200 for RM1,186 was correctly issued and paid by bank...
1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The...
1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash account balance had a balance of $3,975.00. Prepare bank reconciliation on the basis of the following information, and journalize the changes on the company's cash balance. Cash Receipts of $672 had been recorded on the company's books as $654, • Deposits in transit not record by the bank, $400 • Bank service charges, $20 Note collected by the bank and not yet notified...
Beckett Co. received its bank statement for the month ending June 30, 2019. and reconciled the...
Beckett Co. received its bank statement for the month ending June 30, 2019. and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6.658. The reconciliation recognized the following items: 1. Deposits in transit were $3,426. 2. Outstanding checks totaled $2.744 3. Bank service charges shown as a deduction on the bank statement were $51. 4. An NSF check from a customer for $664 was included with the...
On July 31, 2022, Pharoah Company had a cash balance per books of $6,320.00. The statement...
On July 31, 2022, Pharoah Company had a cash balance per books of $6,320.00. The statement from Dakota State Bank on that date showed a balance of $7,870.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $21.00. 2. The bank collected $1,700.00 from a customer for Pharoah Company through electronic funds transfer. 3. The July 31 receipts of $1,377.30 were not included in the bank deposits...
C. Bank Reconciliation On July 31, 2020, Keeds Company had a cash balance per books of...
C. Bank Reconciliation On July 31, 2020, Keeds Company had a cash balance per books of $6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $25. 2. The bank collected $1,520 for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were...
On July 31, 2020, Crane Company had a cash balance per books of $6,190.00. The statement...
On July 31, 2020, Crane Company had a cash balance per books of $6,190.00. The statement from Dakota State Bank on that date showed a balance of $7,700.00. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $25. 2. The bank collected $1,500 for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $1,200.00 were not included in the bank deposits for July. These...
Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the...
Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6,462. The reconciliation recognized the following items: Deposits in transit were $3,326. Outstanding checks totaled $2,634. Bank service charges shown as a deduction on the bank statement were $59. An NSF check from a customer for $618 was included with the bank statement. Beckett Co....
Exercise 219 The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash balance per books had a balance of $390 on this date. The following information pertains to the bank transactions for the company. 1. Deposit of $840, representing cash receipts of July 31, did not appear on the bank statement. 2. Outstanding checks totaled $390. 3. Bank service charges for June amounted to $30. 4. The bank collected a note receivable for the company for $1,200 plus $48 interest...
The bank statement for Urethane Company for June 30 indicates a balance of All cash receipts are deposited in a night depository each evening after banking $9,293.11 pts The accounting records indicate the following summary data for cash recei ments for June: Cash balance as of June 1 Total cash receipts for June Total amount of checks issued in June $3,943.50 28,971.60 28,388.85 Comparing the bank statement and the accompanying canceled checks and memos w the records reveals the following...
QUESTION 4 The following information is collected when recording Scofield Company bank statement for the month of June. RM7,328 Balance per books June 30 Balance per bank statement June 30 RM21,800 Checks written in June but still outstanding RM14,009 Checks written in Maybut still outtanding RM6,200 Deposits of June 29 and 30 not yet recorded by bank RM10.400. . NSF check of customer returned by bank RM2.400, . Check No. 200 for RM1,186 was correctly issued and paid by bank...
1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash account balance had a balance of $3,975.00. Prepare bank reconciliation on the basis of the following information, and journalize the changes on the company's cash balance. Cash Receipts of $672 had been recorded on the company's books as $654, • Deposits in transit not record by the bank, $400 • Bank service charges, $20 Note collected by the bank and not yet notified...
Beckett Co. received its bank statement for the month ending June 30, 2019. and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6.658. The reconciliation recognized the following items: 1. Deposits in transit were $3,426. 2. Outstanding checks totaled $2.744 3. Bank service charges shown as a deduction on the bank statement were $51. 4. An NSF check from a customer for $664 was included with the...
On July 31, 2022, Pharoah Company had a cash balance per books of $6,320.00. The statement from Dakota State Bank on that date showed a balance of $7,870.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $21.00. 2. The bank collected $1,700.00 from a customer for Pharoah Company through electronic funds transfer. 3. The July 31 receipts of $1,377.30 were not included in the bank deposits...
Most questions answered within 3 hours.
-
In testing a new drug, researchers found that 5% of all patients
using it will have...
asked 21 minutes ago -
List the six general types of information management systems,
and give one logistics application to each...
asked 13 minutes ago -
XYZ corporation uses statistical quality control to monitor the
quality of their product. They have determined...
asked 16 minutes ago -
If a liquid
contains 60% sugar and 40% water through out its composition then
what is...
asked 24 minutes ago -
The data in set A represents prices (with tax included) of a
large cup of regular...
asked 34 minutes ago -
How do neuropsychological assessments provide information about
impairment? How could this information be misused?
asked 26 minutes ago -
Define SNP and elaborate various type of SNPs and their
importance in pharmacogenetics?
asked 30 minutes ago -
Description
There are 4 classes, Figure is the base class，both Triangle,
Rectangle and Circle are all...
asked 31 minutes ago -
What will the standard deviation of these exam grades be? A
square bracket means inclusive, so...
asked 41 minutes ago -
Beginning Retained Earnings are $ 79 comma 000 $79,000; sales
are $ 31 comma 700 $31,700;...
asked 43 minutes ago -
Please explain/demonstrate how to use NLTK to test unigram,
bigram, and trigram character models on guessing...
asked 49 minutes ago -
what you feel is most important to you and why regarding your
typing skills?
asked 50 minutes ago