Homework Answers
| ADJUSTMENT ENTRY | ||||||||||
| ACOUNT TITLES | DEBIT | CREDIT | ||||||||
| Accounts Receivable | $800 | |||||||||
| Cash | $800 | |||||||||
| ANSWER: | ||||||||||
| Adjustment to | INCREASE | accounts receivable by | $800 | and | DECREASE | cash by | $800 | |||
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Help Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 points Cash Bank...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account Bank Statement...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account Bank Statement Balance as of 6/30/2018 $ 25,220 $ 21,265 Deposit in transit 4,675 Outstanding checks (400 ) Note collected by bank 1,065 Bank service charge (45 ) NSF check (700 ) Adjusted cash balance as of 6/30/2018 $ 25,540 $ 25,540 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 2: Cash Account Bank...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 2: Cash Account Bank Statement Balance as of 6/30/Year 2 $ 23,880 $ 20,185 Deposit in transit 4,425 Outstanding checks (485 ) Note collected by bank 1,335 Bank service charge (40 ) NSF check (1,050 ) Adjusted cash balance as of 6/30/Year 2 $ 24,125 $ 24,125 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: Cash Account $23,510...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: Cash Account $23,510 Bank Statenent $20,000 4,725 (520) Balance as of 6/30/Year 1 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSP cheek adjusted cash balance as of 6/30/Year 1 1,660 (15) $24, 205 $24,205 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,485 Bank...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,485 Bank Statement $20,785 4,500 (420) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 1,760 (30) (1,350) $24,865 $24,865 When reviewing the bank reconciliation, Zocar's auditor was unable to locate any reference to the NSF check on the bank statement. Furthermore, the clerk who reconciles the bank account and records...
Prepare the adjustment that the clerk would have made to record the NSF check. Increase or...
Prepare the adjustment that the
clerk would have made to record the NSF check. Increase or Decrease
which accounts
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account $23,940 Bank Statement $20,095 4,875 (360) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 2,035 (15) (1,350) $ 24,610 $24,610 As part of the normal process for handling an NSF check,...
Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation...
Egrane, Inc.'s monthly bank statement showed the ending balance
of cash of $14,800. The bank reconciliation for the period showed
an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
$1,200.
What journal entry should be recorded by Egrane for the NSF
check returned?
MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
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....
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...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company's records $6,050 Adjustments: Outstanding checks $2,900 Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 450 Note for $9,500 collected by bank, indluding interest 9,880 Deposit in transit on July 31 (6,160) Bank service charges (60) Total adjustments 7,010 Cash balance according to bank statement $13,060 a. From the data in this...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: Cash Account $23,510 Bank Statenent $20,000 4,725 (520) Balance as of 6/30/Year 1 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSP cheek adjusted cash balance as of 6/30/Year 1 1,660 (15) $24, 205 $24,205 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,485 Bank Statement $20,785 4,500 (420) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 1,760 (30) (1,350) $24,865 $24,865 When reviewing the bank reconciliation, Zocar's auditor was unable to locate any reference to the NSF check on the bank statement. Furthermore, the clerk who reconciles the bank account and records...
Prepare the adjustment that the
clerk would have made to record the NSF check. Increase or Decrease
which accounts
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account $23,940 Bank Statement $20,095 4,875 (360) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 2,035 (15) (1,350) $ 24,610 $24,610 As part of the normal process for handling an NSF check,...
Egrane, Inc.'s monthly bank statement showed the ending balance
of cash of $14,800. The bank reconciliation for the period showed
an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
$1,200.
What journal entry should be recorded by Egrane for the NSF
check returned?
MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
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...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company's records $6,050 Adjustments: Outstanding checks $2,900 Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 450 Note for $9,500 collected by bank, indluding interest 9,880 Deposit in transit on July 31 (6,160) Bank service charges (60) Total adjustments 7,010 Cash balance according to bank statement $13,060 a. From the data in this...
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