The bank statement for Mat Co. revealed a balance of $900, and the checkbook balance showed...
The bank statement for Mat Co. revealed a balance of $900, and the checkbook balance showed $1,420. Checks outstanding totaled $35. A check printing charge for $5 was on the bank statement. There was a $50 NSF shown on the bank statement. There was a $500 deposit in transit. What is the reconciled balance?
Homework Answers
The reconciled bank balance will be calculated a shown below: (Bank Statement Reconiciliation)
Balance as per Bank Statement = $ 900
ADD: Deposits in Transit = $ 500
LESS: Checks Outstanding = $ 35
ADD/LESS: Bank Errors = $ 0
Reconciled Balance = 900 + 500 - 35 = $ 1365
Add Answer to:
The bank statement for Mat Co. revealed a balance of $900, and
the checkbook balance showed...
2) Computer: The Reconciled Balance. Checkbook Bank Statement Additional Reconciled Balance Balance Information Balance $5,543.24 $6,981.32...
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1. On May 2, you receive your bank statement showing a balance of $1,641.18. Your checkbook...
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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...
On September 30 the bank statement of Fine Company showed a balance of $12.900. The following...
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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....
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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
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From the folowing information, construct a bank reconciliation for TS. Co as of March 31, 2017...
From the folowing information, construct a bank reconciliation for TS. Co as of March 31, 2017 (Click the icon to view the bank statement.) Add (1) Complete the bank reconciliation for T.S. Co. Start by preparing the book portion of the reconciliation and then complete the reconciliation by completing the bank portion of a box is not used in the table, leave the box emply do not select a label or enter a zero TS Co. Bank Reconciliation as of...
2) Computer: The Reconciled Balance. Checkbook Bank Statement Additional Reconciled Balance Balance Information Balance $5,543.24 $6,981.32 NSF $88.10 Service Charge:15.00 Interest Credited: 12.15 Deposit in Transit:99.10 Checks Outstanding: 1,628.13 w] x hp $ % 5 & 6 8 9 R T Y O Р I
1. On May 2, you receive your bank statement showing a balance of $1,641.18. Your checkbook shows a balance of $1,427.15. Outstanding checks are $167.31, $245.66, and $302.56. The account earned $62.11. Deposit in transit amount to $555.61, and there is a service charge of $8.00. Calculate the reconciled balance. CHECKBOOK BALANCE STATEMENT BALANCE Add: Interest Earned & Other Credits Add: Deposits in Transit SUBTOTAL SUBTOTAL Deduct: Services Charges & Other Debits Deduct: Outstanding Checks ADJUSTED CHECKBOOK BALANCE ADJUSTED STATEMENT...
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...
On September 30 the bank statement of Fine Company showed a balance of $12.900. The following information was revealed by comparing the bank statement to the cash balance in Fine's accounting records: • Deposits in transit amounted to $5.250 • Outstanding checks amounted to $9,420 • A $760 check was incorrectly drawn on Fine's account • NSF checks returned by the bank were $1.240 • The bank service charge was $43 • Credit memo for $180 for the collection of...
The bank statement for Michah Mack Construction Co. indicates a balance of $9,184.60 on June 30. The cash account in the depositor's records had a balance of $6,767.10. Prepare a bank reconciliation on the basis of the following items: 1. Outstanding checks amounted to $3,192.50. 2. Deposit in transit are $700.00 3. Bank debit memorandum for service charges is $30. 4. A check for $83 for supplies was recorded as $38 in the ledger. 5. NOTE: Do not use commas,...
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
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What journal entry should be recorded by Egrane for the NSF
check returned?
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Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. The bank statement showed a $4,000.27 balance. Melissa's checkbook showed a $4,064.22 balance. Melissa placed a $516.40 deposit in the bank's night depository on June 30, 2015. The deposit did not appear on the bank statement. The bank included two DMs and one CM with the returned checks: $716.85 DM for NSF check, $11.60 DM for service charges, and $453.20 CM (less $25.00 collection fee) for collecting a $453.20...
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