Homework Answers
Answer- The correct balance of cash = $1980.
Explanation- Correct balance of cash = Cash balance of bank statement-Checks outstanding
= $4110-$2130
= $1980
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A company's bank statement shows a cash balance of $4.110. Comparing the company's cash records with...
Item 2 Item 2 A company's bank statement shows a cash balance of $4,110. Comparing the...
Item 2 Item 2 A company's bank statement shows a cash balance of $4,110. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,130, NSF check of $260, interest earned of $31, service fee of $42, and a check for $150 recorded twice by the company. Calculate the correct balance of cash.
16 A company's bank statement shows a cash balance of $4,200. Comparing the company's cash records...
16 A company's bank statement shows a cash balance of $4,200. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,160, NSF check of $270, interest earned of $32, service fee of $47, and a check for $170 recorded twice by the company Calculate the correct balance of cash. Cash balance
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017.
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017. a. On July 31, the company's Cash account has a $25,644 debit balance, but its July bank statement shows a $26,809 cash balance. b. Check No. 3031 for $1,060 and Check No. 3040 for $522 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is...
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017.
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017. a. On July 31, the company's Cash account has a $25,756 debit balance, but its July bank statement shows a $26774 cash balance. b. Check No. 3031 for $1,000 and Check No. 3040 for $492 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is...
Bourne Incorporated reports a cash balance at the end of the month of $2,395. A comparison...
Bourne Incorporated reports a cash balance at the end of the month of $2,395. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($76), an NSF check from a customer ($260), a customer's note receivable collected by the bank ($1,000), and Interest earned ($26). Required: Calculate the reconciled company balance for cash. (Amounts to be deducted should be indicated with a minus sign.) Company balance Service fees NSF check...
Wright Company's cash account shows a $30,100 debit balance and its bank statement shows $28,400 on...
Wright Company's cash account shows a $30,100 debit balance and its bank statement shows $28,400 on deposit at the close of business on May 31. The May 31 bank statement lists $230 in bank service charges; the company has not yet recorded the cost of these services. Outstanding checks as of May 31 total $6,900. May 31 cash receipts of $7,500 were placed in the bank’s night depository after banking hours and were not recorded on the May 31 bank...
Wright Company's cash account shows a $28,500 debit balance and its bank statement shows $26,800 on...
Wright Company's cash account shows a $28,500 debit balance and its bank statement shows $26,800 on deposit at the close of business on May 31. a. The May 31 bank statement lists $150 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,100. c. May 31 cash receipts of $6,700 were placed in the bank's night depository after banking hours and were not recorded on the...
Wright Company's cash account shows a $28,700 debit balance and its bank statement shows $27,000 on...
Wright Company's cash account shows a $28,700 debit balance and its bank statement shows $27,000 on deposit at the close of business on May 31. a. The May 31 bank statement lists $160 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,200. c. May 31 cash receipts of $6,800 were placed in the bank's night depository after banking hours and were not recorded on the...
Wright Company's cash account shows a $29,100 debit balance and its bank statement shows $27,400 on...
Wright Company's cash account shows a $29,100 debit balance and its bank statement shows $27,400 on deposit at the close of business on May 31 a. The May 31 bank statement lists $180 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,400. c. May 31 cash receipts of $7,000 were placed in the bank's night depository after banking hours and were not recorded on the...
Y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September...
y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September 30. a A customer's check for NSF was charged the company's account a $25 processing fee. $100 marked NSF was returned to Brown Company by the bank. In addition, the bank b. The September 30 cash reccipts, 51,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c....
16 A company's bank statement shows a cash balance of $4,200. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,160, NSF check of $270, interest earned of $32, service fee of $47, and a check for $170 recorded twice by the company Calculate the correct balance of cash. Cash balance
Bourne Incorporated reports a cash balance at the end of the month of $2,395. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($76), an NSF check from a customer ($260), a customer's note receivable collected by the bank ($1,000), and Interest earned ($26). Required: Calculate the reconciled company balance for cash. (Amounts to be deducted should be indicated with a minus sign.) Company balance Service fees NSF check...
Wright Company's cash account shows a $28,500 debit balance and its bank statement shows $26,800 on deposit at the close of business on May 31. a. The May 31 bank statement lists $150 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,100. c. May 31 cash receipts of $6,700 were placed in the bank's night depository after banking hours and were not recorded on the...
Wright Company's cash account shows a $28,700 debit balance and its bank statement shows $27,000 on deposit at the close of business on May 31. a. The May 31 bank statement lists $160 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,200. c. May 31 cash receipts of $6,800 were placed in the bank's night depository after banking hours and were not recorded on the...
Wright Company's cash account shows a $29,100 debit balance and its bank statement shows $27,400 on deposit at the close of business on May 31 a. The May 31 bank statement lists $180 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,400. c. May 31 cash receipts of $7,000 were placed in the bank's night depository after banking hours and were not recorded on the...
y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September 30. a A customer's check for NSF was charged the company's account a $25 processing fee. $100 marked NSF was returned to Brown Company by the bank. In addition, the bank b. The September 30 cash reccipts, 51,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c....
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