Homework Answers
Bank statement balance =$4,800
Add: deposits in transit =$1100
Less: outstanding checks 575
Adjusted bank balance =$5,325
2. Adjusted balance balance is equal to adjusted book balance
Adjusted book balance =$5325
Add service charge =$14
Less interest earned 6
Add NSF check 400
Add error 22
Book balance before reconciliation =$5,755
Add Answer to:
The
bank statement balance is $ 4 800 and shows a service charge of $
14,...
The bank statement balance is $5,000 and shows a service charge of $26, interest earned of...
The bank statement balance is $5,000 and shows a service charge of $26, interest earned of $4, and an NSF cheque for $240. Deposits in transit total $1,700; outstanding cheques are $410. The bookkeeper recorded as $155 a cheque of $120 in payment of an account payable. (1) What is the adjusted bank balance? (2) What was the book balance of cash before the reconciliation? (1) What is the adjusted bank balance? The adjusted bank balance is $0 (2) What...
The following information is for Oriole Ltd. in July: 1. Cash balance per bank, July 31,...
The following information is for Oriole Ltd. in July: 1. Cash balance per bank, July 31, $10,630. 2. Cash balance per books, July 31, $8,786. 3. Bank service charge, $40. 4. Deposits in transit, $1,992. 5. Electronic receipts from customers in payment of their accounts, $1,024, not previously recorded by the company. 6. Outstanding cheques, $2,402. 7. Cheque #373 was correctly written in the amount of $490 but was incorrectly recorded by the company's bookkeeper as $940. The cheque was...
The ending bank statement balance at November 30 is $7,110. The bank statement shows a service charge of $75, electr...
The ending bank statement balance at November 30 is $7,110. The bank statement shows a service charge of $75, electronic funds receipts of $600 and a NSF check for $150. Deposits in transit total $2,050 and outstanding checks are $1,835. The balance per books at November 30 is $6,950. What is the adjusted book balance at November 30? O A. $7,165 O B. $7,325 O C. $7,485 O D. $8,935
The following information was available to reconcile Montrose Company’s book balance of Cash with its bank...
The following information was available to reconcile Montrose Company’s book balance of Cash with its bank statement balance as of October 31, 2020: a. After all posting was completed on October 31, the company’s Cash account had a $13,219 debit balance but its bank statement showed a $29,355 balance. b. Cheques #296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank reconciliation. Cheque #307 was returned with the October cancelled cheques, but cheque #296 was not....
Navy Construction Inc. has poor internal control. Recently, Brett Knight, the owner, has suspected the bookkeeper...
Navy Construction Inc. has poor internal control. Recently, Brett
Knight, the owner, has suspected the bookkeeper of stealing. Here
are some details of the business's cash position at January 31,
2017:
Navy Construction Inc. has poor internal control Recent Brett Knight, the owner has suspected the bookkeeper of staing Here are some details of the business's cash position at January 31, 2017 (Click on the icon to view additional Information) will the book section of the bank recordon (Leave used...
Exercise 4-44 (Algorithmic) Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of...
Exercise 4-44 (Algorithmic) Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $21,676, whereas Johnson's cash account shows a balance of $21,220 on October 31. The following additional information is available: A $755 deposit made on October 31 was not recorded by the bank until November. At the end of October, outstanding checks total $1,222. The bank statement shows bank service charges of $125 not yet recorded by the company. The company erroneously recorded as $973...
The December bank statement and cash T-account for Stewart Company follow: Withdrawals Deposits $ 550 7,500...
The December bank statement and cash T-account for Stewart Company follow: Withdrawals Deposits $ 550 7,500 125 Balance $50,500 49,950 42,450 42,325 72,225 70,075 57,575 600 $30,500 2,150 12,500 Date Dec. 1 2-Cheque 4-Cheque 6-Cheque 11-Cheque 13-Cheque 17-Cheque 23-Cheque 26-Cheque 28-Cheque 30-Cheque 30–NSF* 31-Cheque 31-Interest earned 31-Service charge 36,500 . 925 93,085 2,450 17,500 350 1,700 90,6 92,6 о л л op www л л 19,500 92,285 90,585 90,640 90,465 175 *NSF cheque from J. Left, a customer. + Cash...
I'm doing a correspondence course on accounting and this is a practice problem on Bank Reconciliation...
I'm doing a correspondence course on accounting and this is a
practice problem on Bank Reconciliation if you could walk me
through how you would solve this I would much appreciate
it
Please enter journal entries for each of the following, if required. Enter the corresponding number as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie 15/Jan). 1. Outstanding deposit 2. Interest earned 3. NSF cheque 4. Bank service charge 5. Error...
Exercise 7-22 (Part Level Submission) Flint Corporation deposits all receipts intact and makes all payments by...
Exercise 7-22 (Part Level Submission) Flint Corporation deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records: April 30 Bank Reconciliation $7,260 Balance per bank Add: Deposits in transit 1,550 (2,700) Deduct: Outstanding cheques $6,110 Balance per books Month of May Results Per Bank Per Books Balance on May 31 $8,870 $8,865 4,580 May deposits 5,900 May cheques 4,010 3,530 May note collected (not included in May deposits) 1,085 May bank...
Ayayai Corp. deposits all receipts intact and makes all payments by cheque. The following information is...
Ayayai Corp. deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records: Balance per bank Add: Deposits in transit Deduct: Outstanding cheques Balance per books April 30 Bank Reconciliation $7,100 1,500 (2,000) $6,600 Month of May Results Balance on May 31 May deposits May cheques May note collected (not included in May deposits) May bank service charge May NSF cheque from a customer, returned by the bank (recorded by the bank...
The bank statement balance is $5,000 and shows a service charge of $26, interest earned of $4, and an NSF cheque for $240. Deposits in transit total $1,700; outstanding cheques are $410. The bookkeeper recorded as $155 a cheque of $120 in payment of an account payable. (1) What is the adjusted bank balance? (2) What was the book balance of cash before the reconciliation? (1) What is the adjusted bank balance? The adjusted bank balance is $0 (2) What...
The following information is for Oriole Ltd. in July: 1. Cash balance per bank, July 31, $10,630. 2. Cash balance per books, July 31, $8,786. 3. Bank service charge, $40. 4. Deposits in transit, $1,992. 5. Electronic receipts from customers in payment of their accounts, $1,024, not previously recorded by the company. 6. Outstanding cheques, $2,402. 7. Cheque #373 was correctly written in the amount of $490 but was incorrectly recorded by the company's bookkeeper as $940. The cheque was...
The ending bank statement balance at November 30 is $7,110. The bank statement shows a service charge of $75, electronic funds receipts of $600 and a NSF check for $150. Deposits in transit total $2,050 and outstanding checks are $1,835. The balance per books at November 30 is $6,950. What is the adjusted book balance at November 30? O A. $7,165 O B. $7,325 O C. $7,485 O D. $8,935
Navy Construction Inc. has poor internal control. Recently, Brett
Knight, the owner, has suspected the bookkeeper of stealing. Here
are some details of the business's cash position at January 31,
2017:
Navy Construction Inc. has poor internal control Recent Brett Knight, the owner has suspected the bookkeeper of staing Here are some details of the business's cash position at January 31, 2017 (Click on the icon to view additional Information) will the book section of the bank recordon (Leave used...
The December bank statement and cash T-account for Stewart Company follow: Withdrawals Deposits $ 550 7,500 125 Balance $50,500 49,950 42,450 42,325 72,225 70,075 57,575 600 $30,500 2,150 12,500 Date Dec. 1 2-Cheque 4-Cheque 6-Cheque 11-Cheque 13-Cheque 17-Cheque 23-Cheque 26-Cheque 28-Cheque 30-Cheque 30–NSF* 31-Cheque 31-Interest earned 31-Service charge 36,500 . 925 93,085 2,450 17,500 350 1,700 90,6 92,6 о л л op www л л 19,500 92,285 90,585 90,640 90,465 175 *NSF cheque from J. Left, a customer. + Cash...
I'm doing a correspondence course on accounting and this is a
practice problem on Bank Reconciliation if you could walk me
through how you would solve this I would much appreciate
it
Please enter journal entries for each of the following, if required. Enter the corresponding number as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie 15/Jan). 1. Outstanding deposit 2. Interest earned 3. NSF cheque 4. Bank service charge 5. Error...
Exercise 7-22 (Part Level Submission) Flint Corporation deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records: April 30 Bank Reconciliation $7,260 Balance per bank Add: Deposits in transit 1,550 (2,700) Deduct: Outstanding cheques $6,110 Balance per books Month of May Results Per Bank Per Books Balance on May 31 $8,870 $8,865 4,580 May deposits 5,900 May cheques 4,010 3,530 May note collected (not included in May deposits) 1,085 May bank...
Ayayai Corp. deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records: Balance per bank Add: Deposits in transit Deduct: Outstanding cheques Balance per books April 30 Bank Reconciliation $7,100 1,500 (2,000) $6,600 Month of May Results Balance on May 31 May deposits May cheques May note collected (not included in May deposits) May bank service charge May NSF cheque from a customer, returned by the bank (recorded by the bank...
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> you subtract the error dont add
matthew agrippa Fri, Nov 12, 2021 5:07 PM