Bank Reconciliation | |||
Balance per bank statement | $15033.12 | ||
Add | |||
Deposit of Outstanding | 595 | ||
Deduct: | |||
Bank Error | -895 | ||
Outstanding checks | -1360.85 | ||
Adjusted cash balance | $13,372.27 | ||
Balance per books | $13,964.27 | ||
Add: | |||
Error in recording rent check | 11 | ||
Deduct: | |||
Service charge | -18 | ||
NSF check | -95 | ||
Automatic mortgage note payment | -490 | ||
Adjusted cash balance | $13,372.27 |
Date | Account title and Explanation | Debit | Credit | |
Cash | 11 | |||
Rent expense | 11 | |||
(To correct error) | ||||
Interest expense | 370 | |||
Mortgage note payable | 120 | |||
Miscellaneous expense(service) | 18 | |||
Accounts Receivable(NSF) | 95 | |||
Cash | 603 | |||
(To record reduction) |
3 | Total cash and cash equivalents | $19,612.27 | ||
The bank statement for the checking account of Management Systems Inc. (MSI) showed a December 31,...
The bank statement for the checking account of Management Systems Inc. (MSI) showed a December 31, 2021, balance of $15,333.87. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks were $1,391.30. b. The December 31, 2021, cash receipts of $610 were not deposited in the bank until January 2, 2022 c. One check written in payment of rent for $253 was correctly recorded by the bank but was recorded by MSI as a $267 disbursement d. In...
The bank statement for the checking account of Management Systems Inc. (MSI) showed a December 31, 2021, balance of $15,333.87. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks were $1,391.30. b. The December 31, 2021, cash receipts of $610 were not deposited in the bank until January 2, 2022 c. One check written in payment of rent for $253 was correctly recorded by the bank but was recorded by MSI as a...
PLEASE HELP WITH ACCTG HW The bank statement for the checking account of Management Systems Inc. (MSI) showed a December 31, 2021, balance of $15,333.87. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks were $1,391.30. b. The December 31, 2021, cash receipts of $610 were not deposited in the bank until January 2, 2022. c. One check written in payment of rent for $253 was correctly recorded by the bank but was...
The bank statement for the checking account of Management Systems Inc. (MSI) showed a December 31, 2021, balance of $15.734.87 Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks were $1,431.90 b. The December 31, 2021, cash receipts of $630 were not deposited in the bank until January 2, 2022 One check written in payment of rent for $257 was correctly recorded by the bank but was recorded by MSI as a $275...
On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12.751, while the company's records show a balance of $12.381. Information that might be useful in preparing a bank reconciliation is as follows a. Outstanding checks are $1,280 b. The October 31 cash receipts of $835 are not deposited in the bank until November 2 c. One check written in payment of utilities for $147 is correctly recorded by the bank but...
On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,751, while the company's records show a balance of $12,381. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks are $1.280. b. The October 31 cash receipts of $835 are not deposited in the bank until November 2. c. One check written in payment of utilities for $147 is correctly recorded by the bank but...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: Balance per bank, November 30 $ 3,241 Add: Deposits outstanding 1,210 Less: Checks outstanding #363 $ 124 #365 202 #380 57 #381 87 #382 350 (820 ) Adjusted balance per bank, November 30 $ 3,631 The company’s general ledger checking account showed the following for December: Balance,...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,241 1,210 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $ 124 202 57 87 350 (820) $3,631 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts...
On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,742, while the company's records show a balance of $12,336. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks are $1,235. b. The October 31 cash receipts of $790 are not deposited in the bank until November 2. C. One check written in payment of utilities for $138 is correctly recorded by the bank but...
El Gato Painting Company maintains a checking account at American Bank, Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,231 1,200 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $123 201 56 86 340 (806) $3,625 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...