Question

Question Three (15 marks) On 31 December 2012, the balance in the cash book of Lunsefya Hydro Power (LHP) Company was K68, 97

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Journal Entry Credit Date Dec 31 Kl Debit 3090.000 3090.00 Dec 31 120.00 120.00 Dec 31 198.00 198.00 Bank Reconciliation is a

Add a comment
Know the answer?
Add Answer to:
Question Three (15 marks) On 31 December 2012, the balance in the cash book of Lunsefya...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • On August 31, 2019, the balance in the checkbook and the Cash account of the Dry...

    On August 31, 2019, the balance in the checkbook and the Cash account of the Dry Creek Bed and Breakfast was $12,370. The balance shown on the bank statement on the same date was $13,247. Notes The firms records indicate that a $1,550 deposit dated August 30 and a $711 deposit dated August 31 do not appear on the bank statement. A service charge of $7 and a debit memorandum of $370 covering an NSF check have not yet been...

  • AP Sally's Sweet Shop's August 31 bank balance was $11,135. The company's cash balance at August 31 was $10,805. Other information follows

     Prepare bank reconciliation and adjusting entries. P7.12A (LO 4) AP Sally's Sweet Shop's August 31 bank balance was $11,135. The company's cash balance at August 31 was $10,805. Other information follows: 1.Outstanding cheques were #421 for $165, #485 for $265, #492 for $175, and #494 for $1,165. Cheque #421 was also outstanding on July 31 and was included on July's bank reconciliation. 2.Included with the statement were EFT deposits totalling $1,735 during August in payment of accounts receivable. These deposits have not been recorded...

  • 6) On July 31 Dubeau Ltd had a cash balance per books of $7,393. The statement...

    6) On July 31 Dubeau Ltd had a cash balance per books of $7,393. The statement from the bank showed a balance of $9,134. A comparison of the bank statement with the company's accounting records revealed the following: 1. The bank statement included a debit memo of $50 for bank service charges 2. The bank statements included two credit memos. The first was an electronic deposit of $2,031 received from a customer on account. The second was for $24 of...

  • The following information was available to reconcile Montrose Company’s book balance of Cash with its bank...

    The following information was available to reconcile Montrose Company’s book balance of Cash with its bank statement balance as of October 31, 2020: a. After all posting was completed on October 31, the company’s Cash account had a $13,219 debit balance but its bank statement showed a $29,355 balance. b. Cheques #296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank reconciliation. Cheque #307 was returned with the October cancelled cheques, but cheque #296 was not....

  • Miller Corporation’s December 31, 2019, bank statement showed a $2,049.25 balance. On this date, Miller’s Cash...

    Miller Corporation’s December 31, 2019, bank statement showed a $2,049.25 balance. On this date, Miller’s Cash account reflected a $146.90 overdraft. In reconciling these amounts, the following information is discovered: 1. Cash on hand for undeposited sales receipts, December 31, $130.25. 2. Customer NSF check returned with bank statement, $419.20. 3. Cash sales of $634.25 for the week ended December 18 were recorded on the books. The cashier reports this amount missing, and it was not deposited in the bank....

  • Accounting Help The general ledger of Michelle Company Ltd. showed a cash balance of $21,195 on...

    Accounting Help The general ledger of Michelle Company Ltd. showed a cash balance of $21,195 on 31 December 20X2, while the bank showed a balance of $60,600. The following facts were available: a. The bank collected $12,160 as a direct deposit for one of Michelle's customer as a payment on account. A $30 fee was charged by the bank for administration. Michelle has yet to record either of these amounts. b. Michelle paid a utilities bill of $460 through direct...

  • 3. The bank statement for Indiana Inc. shows an unadjusted balance of $2,330 at June 30, 2018, while the unadjusted cash...

    3. The bank statement for Indiana Inc. shows an unadjusted balance of $2,330 at June 30, 2018, while the unadjusted cash balance per books was $599. The following information pertains to the bank transactions for the company. (20 marks) 1.         Deposits of $160, representing cash receipts of June 30, did not appear on the bank statement. 2.         Outstanding cheques totalled $240. 3.         Bank service charges for June were $9. 4.         Electronic collections on account totalled $1,740, and have not yet...

  • problem 4 Prepare a bank a bank reconciliation dated December 31, 2017, for Welcome Inc. based...

    problem 4 Prepare a bank a bank reconciliation dated December 31, 2017, for Welcome Inc. based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2.150,00 were not returned with the bank statement The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an...

  • ACC201: Financial Accounting The Baby Pte Ltd deposits all cash receipts on the day when they are received and it makes...

    ACC201: Financial Accounting The Baby Pte Ltd deposits all cash receipts on the day when they are received and it makes all cash payments by cheques. At the close of business on 31 December 20X1, its Cash account in its books shows a debit balance of $36,606. The following information was discovered during the bank reconciliation. Cheque payment of $90,000 made for the baby powder purchases in December had not been cleared by the bank. Included in the bank statement...

  • Question 4 On 31* December 2019 Oklu's cash book showed a debit balance of Ghc14,760. His...

    Question 4 On 31* December 2019 Oklu's cash book showed a debit balance of Ghc14,760. His bank statement showed a balance of Ghc13,250. The reason for the difference is as follows: a. A cheques of Ghc980 was received and entered in the cash book but not recorded in the bank statement b. Unpresented cheque totaling Ghc1,870 C. The payment side of the cash book had been undercast by Ghc1,000 d. Standing order Ghc630 had not been entered in the cash...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT