BrentWood Bike Co. | ||||||||||
Bank Reconciliation | ||||||||||
Cash balance according to Bank statement | 43,525 | |||||||||
Add:Deposits of May 31,not recorded by bank | 1,850 | |||||||||
Add:Bank error in charging checks as 930instead of $390 | 540 | 2,390 | ||||||||
45,915 | ||||||||||
Deduct:checks outstanding | 6,440 | |||||||||
Adjusted balance | 39,475 | |||||||||
Cash balance according to company records | 35670 | (34250+140300-138880) | ||||||||
Add:collection of note | 5,250 | |||||||||
40920 | ||||||||||
Deduct: | Error in recording cheque | (210-120) | 90 | |||||||
Bank service charge | 30 | |||||||||
NSF | 1,325 | 1,445 | ||||||||
Adjusted balance | 39,475 | |||||||||
2) | Journal entries' | |||||||||
a | 31-May | Cash | 5,250 | |||||||
Note receivable | 250 | |||||||||
interest revenue | 5,000 | |||||||||
b. | 31-May | Accounts payable-rack pro co | 90 | |||||||
Miscellaneous expense | 30 | |||||||||
account receivable | 1,325 | |||||||||
cash | 1,445 | |||||||||
3) | 39,475 | |||||||||
The cash account for Brentwood Bike Co. at May 1 indicated a balance of $34,250. During...
Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,640. During May, the total cash deposited was $73,260 and checks written totaled $68,020. The bank statement indicated a balance of $24,840 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: Checks outstanding totaled $11,060. A deposit of $9,010, representing receipts of May 31, had been made too late...
Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $12,830. During May, the total cash deposited was $ 64,640 and checks written totaled $60,020. The bank statement indicated a balance of $21,910 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $9,760. b. A deposit of $7,950, representing receipts of May 31, had been...
The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,350. During May, the total cash deposited was $66,800 and checks written totaled $62,020. The bank statement indicated a balance of $22,650 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: Checks outstanding totaled $10,090. A deposit of $8,220, representing receipts of May 31, had been made too late to appear on the...
Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,960. During May, the total cash deposited was $70,250 and checks written totaled $65,230. The bank statement indicated a balance of $23,810 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: A. Checks outstanding totaled $10,610. B. A deposit of $8,640, representing receipts of May 31, had been made...
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Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,370. During May, the total cash deposited was $72,740 and checks written totaled $67,540. The bank statement indicated a balance of $24,660 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,980. b. A deposit of $8,950, representing receipts of May 31, had been made...
Bank Reconciliation and Entries. The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,640. During May, the total cash deposited was $73,180 and checks written totaled $67,950. The bank statement indicated a balance of $24,810 on May 31. Comparing the bank statement, the canceled checks, ans fhe accompaying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $11,050 2 matches shor De ories & Problems BLANKSH. ALGO eBook Show Me How...
Only need help with Question 2 Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,600. During May, the total cash deposited was $73,740 and checks written totaled $68,470. The bank statement indicated a balance of $25,000 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $11,130. b. A deposit of $9,070, representing receipts...
The cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $5,140. During October, the total cash deposited was $39,175, and checks written totaled $40,520. The bank statement indicated a balance of $8,980 on October 31, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,560. b. A deposit of $1,050 representing receipts of October 31, had been made too late...
Book Show Me How Calculator Bank reconciliation and entries Chart of Accounts Amount Descriptions Instructions The cash account for Brentwood Bike Co. at May 1 indicated a balance of $34,250 During May, the total cash deposited was $140,300, and checks written totaled $138,880. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items. A. Checks outstanding totaled $6.440. B. A...