Homework Answers
Bank Reconciliation
|
Bank |
Books |
||
|
Balance, June 30 |
4,270 |
Balance, June 30 |
6,600 |
|
Add: |
Add: |
||
|
Deposit in transit |
2,600 |
||
|
Less: |
Less: |
||
|
Outstanding checks |
- 500 |
Bank service charges |
- 230 |
|
Adjusted bank balance |
$6,370 |
Adjusted book balance |
$6,370 |
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Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:...
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:
Hills Company’s June 30 bank statementHills Company's June 30 bank statement and the June ledger account for cash are summarized here: Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No depo in transit were noted in May, but a deposit is in transit at the end of June. 2. Prepare any journal entries...
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:...
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $17,800 $18,990 Balance $ 7,160 24,960 6,060 6,030 6,030 $30 Cash (A) June 1 June Balance Deposits Balance 7,160 18,600 6,560 19,200 Checks written June June 30 3. What is the balance in the Cash account after the reconciliation entries? Cash Balance 4....
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:...
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Deposits Other Balance $ 7,160 $17,800 24,960 6,060 $30 6,30 6,030 $18,900 Cash (A) June 1 June June 30 Balance Deposits Balance 7,160 18,600 6,560 19,200 Checks written June 2. Prepare any journal entries that should be made as a result of the bank reconciliation....
Required information [The following information applies to the questions displayed below) Hills Company's June 30 bank...
Required information [The following information applies to the questions displayed below) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits $17,800 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,900 Other Balance $ 7,160 24,960 6,060 $30 6,038 6,830 June 1 June June 30 Balance Deposits Balance Cash (A) 7,160 18,600 19,200 Checks written 6,560 June Required: 1. Prepare a bank...
[The following information applies to the questions displayed below.] Hills Company’s June 30 bank statement and...
[The following information applies to the questions displayed below.] Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,200 Deposits during June $ 18,000 25,200 Checks cleared during June $ 19,100 6,100 Bank service charges $ 30 6,070 Balance, June 30 6,070 Cash (A) June 1 Balance 6,800 June Deposits 19,000 19,400 Checks written June June 30 Balance 6,400 Required: Prepare a bank...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other $17, 800 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7, 160 24, 960 6,060 6,030 6, 030 $18,900 $30 June 1 June Balance Bala Deposits Cash (A) 7,160 18,600 19,200 Checks written 6,560 June June 30 Balance...
Required information [The following information applies to the questions displayed below.] Hills Company’s June 30 bank...
Required information [The following information applies to the questions displayed below.] Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,380 Deposits during June $ 18,900 26,280 Checks cleared during June $ 20,000 6,280 Bank service charges $ 31 6,249 Balance, June 30 6,249 Cash (A) June 1 Balance 7,380 June Deposits 20,800 20,300 Checks written June June 30 Balance 7,880 Required: Prepare...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits $17,200 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Other Balance $ 7,040 24, 240 5,940 $30 5,910 5,910 $18,300 June 1 June Balance Deposits Balance Cash (A) 7,040 17,400 18,600 5,840 Checks written June June 30 Required: 1. Prepare a...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other $18,500 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7,300 25, 800 6, 200 6,169 6, 169 $19, 600 $31 June 1 June Balance Deposits Cash (A) 7, 300 20,000 19,900 Checks written 7, 400 June June 30...
Bentley Company’s June 30 bank statement and June ledger accountfor cash are summarized below:BANK...
Bentley Company’s June 30 bank statement and June ledger account
for cash are summarized below:BANK STATEMENTChecksDepositsBalanceBalance, June 1$6,500Deposits during June$16,20022,700Checks cleared during June$16,6006,100Bank service charges406,060Balance, June 306,060Cash (A)June 1 Balance6,500 June Checks written19,000June Deposits18,100Required:1. Reconcile the bank account. A comparison of
the checks written with the checks that have cleared the bank shows
outstanding checks of $2,400. A deposit of $1,900 is in transit at
the end of June.2. Prepare the journal entry that should be
made as a result of...
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $17,800 $18,990 Balance $ 7,160 24,960 6,060 6,030 6,030 $30 Cash (A) June 1 June Balance Deposits Balance 7,160 18,600 6,560 19,200 Checks written June June 30 3. What is the balance in the Cash account after the reconciliation entries? Cash Balance 4....
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Deposits Other Balance $ 7,160 $17,800 24,960 6,060 $30 6,30 6,030 $18,900 Cash (A) June 1 June June 30 Balance Deposits Balance 7,160 18,600 6,560 19,200 Checks written June 2. Prepare any journal entries that should be made as a result of the bank reconciliation....
Required information [The following information applies to the questions displayed below) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits $17,800 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,900 Other Balance $ 7,160 24,960 6,060 $30 6,038 6,830 June 1 June June 30 Balance Deposits Balance Cash (A) 7,160 18,600 19,200 Checks written 6,560 June Required: 1. Prepare a bank...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other $17, 800 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7, 160 24, 960 6,060 6,030 6, 030 $18,900 $30 June 1 June Balance Bala Deposits Cash (A) 7,160 18,600 19,200 Checks written 6,560 June June 30 Balance...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits $17,200 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Other Balance $ 7,040 24, 240 5,940 $30 5,910 5,910 $18,300 June 1 June Balance Deposits Balance Cash (A) 7,040 17,400 18,600 5,840 Checks written June June 30 Required: 1. Prepare a...
Required information [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other $18,500 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7,300 25, 800 6, 200 6,169 6, 169 $19, 600 $31 June 1 June Balance Deposits Cash (A) 7, 300 20,000 19,900 Checks written 7, 400 June June 30...
Bentley Company’s June 30 bank statement and June ledger account
for cash are summarized below:BANK STATEMENTChecksDepositsBalanceBalance, June 1$6,500Deposits during June$16,20022,700Checks cleared during June$16,6006,100Bank service charges406,060Balance, June 306,060Cash (A)June 1 Balance6,500 June Checks written19,000June Deposits18,100Required:1. Reconcile the bank account. A comparison of
the checks written with the checks that have cleared the bank shows
outstanding checks of $2,400. A deposit of $1,900 is in transit at
the end of June.2. Prepare the journal entry that should be
made as a result of...
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