Homework Answers
1) Bank reconciliation
as on July 31,2022
| Unadjusted bank Statement | 10788 |
| Add: Deposit in transit | 4402 |
| 1590 | |
| Less: Outstanding Checks | -1860 |
| Adjusted balance | 13330 |
| Balance as per Cash book | 10912 |
| Add: Electronic fund transfer | 2480 |
| 13392 | |
| Less: Bank Charges | -62 |
| Adjusted balance | 13330 |
Adjusted balance
| Date | account and explanation | Debit | Credit |
| July 31 | Cash | 2480 | |
| Notes receivable | 2480 | ||
| July 31 | Bank Charges | 62 | |
| Cash | 62 | ||
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Exercise 7-11 The following information pertains to Wildhorse Company. Cash balance per bank, July 31, $10,788...
The following information pertains to Crane Company 1. Cash balance per bank, July 31. $7.938. 2....
The following information pertains to Crane Company 1. Cash balance per bank, July 31. $7.938. 2. July bank service charge not recorded by the depositor $52. 3. Cash balance per books, July 31, $7.974. 4. Deposits in transit, July 31. $3,310. 5. $2.626 collected for Crane Company in July by the bank through electronic funds transfer. The collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $700. Prepare a bank reconciliation at July 31, 2017. (List...
The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $7,388. 2....
The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $7,388. 2. July bank service charge not recorded by the depositor $41. 3. Cash balance per books, July 31, $7,424. 4. Deposits in transit, July 31, $2,760. 5. $2,076 collected for Crane Company in July by the bank through electronic funds transfer. The collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $689. Date Account Titles and Explanation Debit Credit July 31...
The following information pertains to Pharoah Company 1. Cash balance per bank, July 31, $7,830
The following information pertains to Pharoah Company 1. Cash balance per bank, July 31, $7,830 2. July bank service charge not recorded by the depositor $45. 3. Cash balance per books, July 31, $7.920. 4. Deposits in transit, July 31. $3,195. 5. $1,800 collected for Pharoah Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Pharoah Company 6. Outstanding checks, July 31. $1,350. Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as...
The following information pertains to Oriole Company 1. Cash balance per bank, July 31, $7.538. 2....
The following information pertains to Oriole Company 1. Cash balance per bank, July 31, $7.538. 2. July bank service charge not recorded by the depositor $44. 3. Cash balance per books, July 31, $7,574 4. Deposits in transit, July 31. $2.910. 5. $2,226 collected for Oriole Company in July by the bank through electronic funds transfer. The collection has not been recorded by Oriole Company 6. Outstanding checks, July 31. $692 Your answer is correct. Prepare a bank reconciliation at...
CALCULATOR FULL SCREEN PRINTE Exercise 7-8 The following information pertains to Sunland Company. 1. Cash balance...
CALCULATOR FULL SCREEN PRINTE Exercise 7-8 The following information pertains to Sunland Company. 1. Cash balance per bank, July 31, $7,688 2. July bank service charge not recorded by the depositor $47 3. Cash balance per books, July 31, $7,724 4. Deposits in transit, July 31, $3,060. 5 $2.376 collected for Sunland Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sunland Company 6. Outstanding checks, July 31, $695 Prepare a bank...
The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,424. 2....
The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,424. 2. Cash balance per bank, August 31, $7,388. 3. Outstanding checks, August 31, $695. 4. August bank service charge not recorded by the depositor $47. 5. Deposits in transit, August 31, $3,060. In addition, $2,376 collected for Sunland Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sunland Company. Prepare a bank reconciliation at August 31,...
Exercise 7-11 The following information pertains to Ivanhoe Company. 1. 2. 3. 4. 5. 6. Cash...
Exercise 7-11 The following information pertains to Ivanhoe Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $7,482. July bank service charge not recorded by the depositor $43. Cash balance per books, July 31, $7,568. Deposits in transit, July 31, $3,053. $1,720 collected for Ivanhoe Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Ivanhoe Company. Outstanding checks, July 31, $1,290. We were unable to transcribe...
The following information pertains to Bonita Video Company. 1. Cash balance per bank, July 31, $8,203....
The following information pertains to Bonita Video
Company.
1.
Cash balance per bank, July 31,
$8,203.
2.
July bank service charge not
recorded by the depositor $37.
3.
Cash balance per books, July 31,
$8,224.
4.
Deposits in transit, July 31,
$1,970.
5.
Bank collected $1,370 note for
Bonita in July, plus interest $45, less fee $29. The collection has
not been recorded by Bonita, and no interest has been accrued.
6.
Outstanding checks, July 31,
$600.
Prepare a bank...
The following information pertains to Cullumber Company. 1. Cash balance per bank, July 31, $7,988. 2....
The following information pertains to Cullumber Company. 1. Cash balance per bank, July 31, $7,988. 2. July bank service charge not recorded by the depositor $53. 3. Cash balance per books, July 31, $8,024. 4. Deposits in transit, July 31, $3,360. 5. $2,676 collected for Cullumber Company in July by the bank through electronic funds transfer. The collection has not been recorded by Cullumber Company. 6. Outstanding checks, July 31, $701. repare a bank reconciliation at July 31, 2017. (List...
1. The following information pertains to Cullumber Company. 1. Cash balance per bank, July 31, $7,988....
1. The following information pertains to Cullumber Company. 1. Cash balance per bank, July 31, $7,988. 2. July bank service charge not recorded by the depositor $53. 3. Cash balance per books, July 31, $8,024. 4. Deposits in transit, July 31, $3,360. 5. $2,676 collected for Cullumber Company in July by the bank through electronic funds transfer. The collection has not been recorded by Cullumber Company. 6. Outstanding checks, July 31, $701. Prepare a bank reconciliation at July 31, 2022....
The following information pertains to Crane Company 1. Cash balance per bank, July 31. $7.938. 2. July bank service charge not recorded by the depositor $52. 3. Cash balance per books, July 31, $7.974. 4. Deposits in transit, July 31. $3,310. 5. $2.626 collected for Crane Company in July by the bank through electronic funds transfer. The collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $700. Prepare a bank reconciliation at July 31, 2017. (List...
The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $7,388. 2. July bank service charge not recorded by the depositor $41. 3. Cash balance per books, July 31, $7,424. 4. Deposits in transit, July 31, $2,760. 5. $2,076 collected for Crane Company in July by the bank through electronic funds transfer. The collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $689. Date Account Titles and Explanation Debit Credit July 31...
The following information pertains to Oriole Company 1. Cash balance per bank, July 31, $7.538. 2. July bank service charge not recorded by the depositor $44. 3. Cash balance per books, July 31, $7,574 4. Deposits in transit, July 31. $2.910. 5. $2,226 collected for Oriole Company in July by the bank through electronic funds transfer. The collection has not been recorded by Oriole Company 6. Outstanding checks, July 31. $692 Your answer is correct. Prepare a bank reconciliation at...
CALCULATOR FULL SCREEN PRINTE Exercise 7-8 The following information pertains to Sunland Company. 1. Cash balance per bank, July 31, $7,688 2. July bank service charge not recorded by the depositor $47 3. Cash balance per books, July 31, $7,724 4. Deposits in transit, July 31, $3,060. 5 $2.376 collected for Sunland Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sunland Company 6. Outstanding checks, July 31, $695 Prepare a bank...
The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,424. 2. Cash balance per bank, August 31, $7,388. 3. Outstanding checks, August 31, $695. 4. August bank service charge not recorded by the depositor $47. 5. Deposits in transit, August 31, $3,060. In addition, $2,376 collected for Sunland Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sunland Company. Prepare a bank reconciliation at August 31,...
Exercise 7-11 The following information pertains to Ivanhoe Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $7,482. July bank service charge not recorded by the depositor $43. Cash balance per books, July 31, $7,568. Deposits in transit, July 31, $3,053. $1,720 collected for Ivanhoe Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Ivanhoe Company. Outstanding checks, July 31, $1,290. We were unable to transcribe...
The following information pertains to Bonita Video
Company.
1.
Cash balance per bank, July 31,
$8,203.
2.
July bank service charge not
recorded by the depositor $37.
3.
Cash balance per books, July 31,
$8,224.
4.
Deposits in transit, July 31,
$1,970.
5.
Bank collected $1,370 note for
Bonita in July, plus interest $45, less fee $29. The collection has
not been recorded by Bonita, and no interest has been accrued.
6.
Outstanding checks, July 31,
$600.
Prepare a bank...
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