Homework Answers
Add Answer to:
The National Bank collected $3,000 including $300 interest on behalf of Z Inc. from one of...
1. The bank collected a note receivable of $2,500 for Tamarisk, Inc. on December 15 through...
1. The bank collected a note receivable of $2,500 for Tamarisk, Inc. on December 15 through electronic funds transfer. 2. The December 31 receipts were deposited in a night deposit vault on December 31. These deposits were recorded by the bank in January 3. Checks outstanding on December 31 totaled $1,200. 4. On December 31, the bank statement showed an NSF charge of $680 for a check received by the company from L. Bryan, a customer, on accour Prepare a...
Bank Reconciliation An accounting clerk for Muskegon Co. prepared the following bank reconciliation: Muskegon Co. Bank...
Bank Reconciliation An accounting clerk for Muskegon Co. prepared the following bank reconciliation: Muskegon Co. Bank Reconciliation May 31, 2016 Cash balance according to company's records $6,910 Add: Outstanding checks $3,320 Error by Muskegon Co. in recording Check No. 2219 as $710 instead of $170 540 Note for $10,800 collected by bank, including interest 11,230 15,090 $22,000 $7,030 Deduct: Deposit in transit on May 31 30 7,060 Bank service charges $14,940 Cash balance according to bank statement data in this...
bank reconciliation Bank Reconciliation The following information is available to assist you in preparing a bank...
bank reconciliation
Bank Reconciliation The following information is available to assist you in preparing a bank reconciliation for Burgoon Enterprises on May 31: a. The balance on the May 31 bank statement is $8,432.11. b. Not included on the bank statement is a $1,250 deposit made by Burgoon Enterprises late on May 31. c. A comparison between the canceled checks returned with the bank statement and the company records indicated that the following checks are outstanding at May 31: No....
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized...
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized below. Disbursements Receipts Balance County National Bank Balance, August 1 $15.215 Deposits during August $52,293 67,508 Note collected for depositor, including $65 interest 1,689 69,197 Checks cleared during August $56,028 13,169 Bank service charges 32 13,137 Balance, August 31 13,137 The general ledger Cash account contained the following entries for the month of August. Cash 16,321 Disbursements in August 56,840 Balance, August 1 56,694...
The following information pertains to Oriole Company 1. Cash balance per bank, July 31, $7.538. 2....
The following information pertains to Oriole Company 1. Cash balance per bank, July 31, $7.538. 2. July bank service charge not recorded by the depositor $44. 3. Cash balance per books, July 31, $7,574 4. Deposits in transit, July 31. $2.910. 5. $2,226 collected for Oriole Company in July by the bank through electronic funds transfer. The collection has not been recorded by Oriole Company 6. Outstanding checks, July 31. $692 Your answer is correct. Prepare a bank reconciliation at...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 $6,160 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check $2,960 No. 1056 as $820 instead of $280 540 Note for $9,700 collected by bank, including interest 10,090 13,590 $19,750 Deduct: Deposit in transit on August 31 $6,270 Bank service charges 6,330 Cash balance according to bank statement $13,420 a. From the data in this bank...
1. What is the purpose of a Bank Reconciliation Statement? 2.Preparing a bank Reconciliation Statement: •The...
1. What is the purpose of a Bank Reconciliation Statement? 2.Preparing a bank Reconciliation Statement: •The July 31 bank statement for Parkview Company indicated a cash balance of $5,000.17. •The cash ledger account on that date shows a balance of $4,262.83. •Four outstanding checks totaled $717.75. •A $410.90 deposit made after banking hours on July 31 does not appear in the bank statement. •On July 30, the bank returned J.B. Ball’s NSF check for $50.25, received as payment of an...
The following information pertains to Oriole Video Company. 1. 2. 3. 4. Cash balance per bank,...
The following information pertains to Oriole Video Company. 1. 2. 3. 4. Cash balance per bank, July 31, $7,783. July bank service charge not recorded by the depositor $34. Cash balance per books, July 31, $7,804. Deposits in transit, July 31, $1,760. Bank collected $1,160 note for Oriole in July, plus interest $42, less fee $26. The collection has not been recorded by Oriole, and no interest has been accrued. Outstanding checks, July 31, $597. 5. 6. (a) Prepare a...
Bank Reconciliation The company's accounting intern has prepared the end-of-January bank reconciliation from the bank statement,...
Bank Reconciliation The company's accounting intern has prepared the end-of-January bank reconciliation from the bank statement, and is worried because the adjusted balance amounts do not agree. After reviewing the bank reconciliation, scroll down for the next steps in helping the intern. Murdstone, Inc. Bank Reconciliation January 31, 2045 Cash balance according to bank statement $23,557.98 Adjustments: 12,125.25 Add: Deposit in transit on January 31 Deduct: Outstanding Check No. 124 Outstanding Check No. 125 Outstanding Check No. 129 $(62.00) (42.00)...
Fill in the missing amounts for the following bank reconciliation: Bank reconciliation March 31, 20-- Bank...
Fill in the missing amounts for the following bank reconciliation: Bank reconciliation March 31, 20-- Bank statement Balance $5,429 Add: Deposit in transit $5,795 Deduct: Outstanding checks No. 211 $302 No. 225 No. 228 448 1,221 Adjusted Bank Statement Balance $ Ledger Balance of Cash $4,080 Add: Note collected by bank 622 $ Deduct: Bank service and collection charges $ NSF check from customer 105 128 Adjusted Ledger Balance of Cash $
1. The bank collected a note receivable of $2,500 for Tamarisk, Inc. on December 15 through electronic funds transfer. 2. The December 31 receipts were deposited in a night deposit vault on December 31. These deposits were recorded by the bank in January 3. Checks outstanding on December 31 totaled $1,200. 4. On December 31, the bank statement showed an NSF charge of $680 for a check received by the company from L. Bryan, a customer, on accour Prepare a...
Bank Reconciliation An accounting clerk for Muskegon Co. prepared the following bank reconciliation: Muskegon Co. Bank Reconciliation May 31, 2016 Cash balance according to company's records $6,910 Add: Outstanding checks $3,320 Error by Muskegon Co. in recording Check No. 2219 as $710 instead of $170 540 Note for $10,800 collected by bank, including interest 11,230 15,090 $22,000 $7,030 Deduct: Deposit in transit on May 31 30 7,060 Bank service charges $14,940 Cash balance according to bank statement data in this...
bank reconciliation
Bank Reconciliation The following information is available to assist you in preparing a bank reconciliation for Burgoon Enterprises on May 31: a. The balance on the May 31 bank statement is $8,432.11. b. Not included on the bank statement is a $1,250 deposit made by Burgoon Enterprises late on May 31. c. A comparison between the canceled checks returned with the bank statement and the company records indicated that the following checks are outstanding at May 31: No....
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized below. Disbursements Receipts Balance County National Bank Balance, August 1 $15.215 Deposits during August $52,293 67,508 Note collected for depositor, including $65 interest 1,689 69,197 Checks cleared during August $56,028 13,169 Bank service charges 32 13,137 Balance, August 31 13,137 The general ledger Cash account contained the following entries for the month of August. Cash 16,321 Disbursements in August 56,840 Balance, August 1 56,694...
The following information pertains to Oriole Company 1. Cash balance per bank, July 31, $7.538. 2. July bank service charge not recorded by the depositor $44. 3. Cash balance per books, July 31, $7,574 4. Deposits in transit, July 31. $2.910. 5. $2,226 collected for Oriole Company in July by the bank through electronic funds transfer. The collection has not been recorded by Oriole Company 6. Outstanding checks, July 31. $692 Your answer is correct. Prepare a bank reconciliation at...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 $6,160 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check $2,960 No. 1056 as $820 instead of $280 540 Note for $9,700 collected by bank, including interest 10,090 13,590 $19,750 Deduct: Deposit in transit on August 31 $6,270 Bank service charges 6,330 Cash balance according to bank statement $13,420 a. From the data in this bank...
The following information pertains to Oriole Video Company. 1. 2. 3. 4. Cash balance per bank, July 31, $7,783. July bank service charge not recorded by the depositor $34. Cash balance per books, July 31, $7,804. Deposits in transit, July 31, $1,760. Bank collected $1,160 note for Oriole in July, plus interest $42, less fee $26. The collection has not been recorded by Oriole, and no interest has been accrued. Outstanding checks, July 31, $597. 5. 6. (a) Prepare a...
Bank Reconciliation The company's accounting intern has prepared the end-of-January bank reconciliation from the bank statement, and is worried because the adjusted balance amounts do not agree. After reviewing the bank reconciliation, scroll down for the next steps in helping the intern. Murdstone, Inc. Bank Reconciliation January 31, 2045 Cash balance according to bank statement $23,557.98 Adjustments: 12,125.25 Add: Deposit in transit on January 31 Deduct: Outstanding Check No. 124 Outstanding Check No. 125 Outstanding Check No. 129 $(62.00) (42.00)...
Most questions answered within 3 hours.
-
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 3 minutes ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 48 minutes ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 49 minutes ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 56 minutes ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 1 hour ago -
Phosphorus violates the 'octet rule' in biological molecules,
forming more covalent bonds than expected based on...
asked 1 hour ago -
A 1.3 eV electron has a 10-4 probability of tunneling
through a 2.4 eV potential barrier....
asked 1 hour ago -
What is the one ingredient that is common to being successful
with all stakeholders?
profit
trust...
asked 1 hour ago -
Write an assembly language 32 bit program that reads in lines of
text by a .txt...
asked 1 hour ago -
what is the density ( in g/L) of hydrogen gas at 29 degrees C and a...
asked 1 hour ago -
5-6. You are considering three investment alternatives for some
spare cash: Old Reliable Corporation stock (A1),...
asked 1 hour ago -
Problem 16-02
Receivables Investment
Medwig Corporation has a DSO of 45 days. The company averages
$7,250...
asked 1 hour ago