where are we getting the 3 outstanding checks for the bank side?
where are we getting the 3 outstanding checks for the bank side?
Homework Answers
While preparing Bank Reconciliation Statement, these are the
cheques that have been written by the company but have not yet cleared the bank. When ckecks are written it takes a few days to clear. Most businesses have no. of outstanding cheques at the end of the month. Outstanding cheques must be substracted from the bank side of the reconciliation because they were substracted from the book balance when the cheques were written .
During a bank reconciliation process, outstanding checks and deposits in transit are subtracted from the bank...
During a bank reconciliation process, outstanding checks and deposits in transit are subtracted from the bank statement balance outstanding checks are added and deposits in transit are subtracted from the bank statement balance outstanding checks are subtracted and deposits in transit are added to the bank statement balance outstanding checks and deposits in transit are added to the bank statement balance Sales to customers who use bank credit cards such as MasterCard and Visa are usually recorded by a debit...
LeBaron Corporation identified outstanding checks of $10,553 in preparing to do its bank reconciliation. When doing...
LeBaron Corporation identified outstanding checks of $10,553 in preparing to do its bank reconciliation. When doing the bank reconciliation, what should LeBaron do with the outstanding checks? options: Add the outstanding checks to the bank balance. Add the outstanding checks to their cash balance. Subtract the outstanding checks from the bank balance. Subtract the outstanding checks from their cash balance.
Minor Company had checks outstanding totaling $5,350 on its April bank reconciliation. In May, Minor Company...
Minor Company had checks outstanding totaling $5,350 on its April bank reconciliation. In May, Minor Company issued checks totaling $39,125. The May bank statement shows that $25,600 in checks cleared the bank in May. A check from one of Minor Company's customers of $643 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a. $64,725 b. $20,250 c. $18,232 d. $18,875
Minor Company had checks outstanding totaling $4,849 on its April bank reconciliation. In May, Minor Company...
Minor Company had checks outstanding totaling $4,849 on its April bank reconciliation. In May, Minor Company issued checks totaling $38,722. The May bank statement shows that $26,990 in checks cleared the bank in May. A check from one of Minor Company's customers of $530 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be Oa. $65,712 Ob. $16,051 Oc. $16,581 Od. $22,141
Harris Company had checks outstanding totaling $5,364 on its May bank reconciliation. In June, Harris Company...
Harris Company had checks outstanding totaling $5,364 on its May bank reconciliation. In June, Harris Company issued checks totaling $39,798. The June bank statement shows that $26,939 in checks cleared the bank in June. A check from one of Harris Company's customers of $305 was also returned marked "NSF." Determine the amount of outstanding checks on Harris Company's June bank reconciliation. Select the correct answer. $17,918 $18,223 $21,575 $66,737
Question 8 Match how to treat the item for a bank reconciliation Outstanding checks [Choose) add...
Question 8 Match how to treat the item for a bank reconciliation Outstanding checks [Choose) add to cash ledger add to bank subtract from cash ledger subtract from bank Outstanding deposits Bank error, added too much to company bank account [ Choose
8 At April 30, the bank reconciliation of Henderson Company shows three outstanding checks written in...
8 At April 30, the bank reconciliation of Henderson Company shows three outstanding checks written in April: No. 254 $600, No. 255 $800, and No. 257 $410. The May bank statement and the May cash payments record are given here. Bank Statement Checks Paid Cash Payments Record Checks Issued Date Check No. Amount Date Check No. Amount 5-4 254 $600 5-2 258 $159 5-2 257 410 5-5 259 275 5-17 258 159 5-10 260 925 5-12 259 275 5-15 261...
At April 30, the bank reconciliation of Carla Vista Co. shows three outstanding checks: No. 254...
At April 30, the bank reconciliation of Carla Vista Co. shows three outstanding checks: No. 254 $720, No. 255 $840, and No. 257 $485. The May bank statement and the May cash payments journal are given here. Bank Statement Checks Paid Date Check No. Amount 5-4 254 $720 5-2 257 485 5-17 258 160 5-12 259 340 5-20 260 1,070 5-29 263 530 5-30 262 775 Cash Payments Journal Checks Issued Date Check No. Amount 5-2 258 $160 5-5 259...
At July 31, Ivanhoe Company has this bank information: cash balance per bank $8,925, outstanding checks...
At July 31, Ivanhoe Company has this bank information: cash balance per bank $8,925, outstanding checks $790, deposits in transit $1,285 and a bank service charge $50. Determine the adjusted cash balance per bank at July 31. The adjusted cash balance per bank at July 31
Outstanding checks haven't been presented to the bank for payment but have been subtracted in the...
Outstanding checks haven't been presented to the bank for payment but have been subtracted in the checkbook. have been subtracted on the bank records but not the checkbook records. have been returned to the business for nonpayment. haven't been presented to the bank for payment and haven't been subtracted from the checkbook. Question 2 (5 points) Using the following information, calculate the adjusted cash balance at the end of April. $2.000 Bank statement ending cash balance General ledger cash balance...
Minor Company had checks outstanding totaling $4,849 on its April bank reconciliation. In May, Minor Company issued checks totaling $38,722. The May bank statement shows that $26,990 in checks cleared the bank in May. A check from one of Minor Company's customers of $530 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be Oa. $65,712 Ob. $16,051 Oc. $16,581 Od. $22,141
Question 8 Match how to treat the item for a bank reconciliation Outstanding checks [Choose) add to cash ledger add to bank subtract from cash ledger subtract from bank Outstanding deposits Bank error, added too much to company bank account [ Choose
8 At April 30, the bank reconciliation of Henderson Company shows three outstanding checks written in April: No. 254 $600, No. 255 $800, and No. 257 $410. The May bank statement and the May cash payments record are given here. Bank Statement Checks Paid Cash Payments Record Checks Issued Date Check No. Amount Date Check No. Amount 5-4 254 $600 5-2 258 $159 5-2 257 410 5-5 259 275 5-17 258 159 5-10 260 925 5-12 259 275 5-15 261...
Outstanding checks haven't been presented to the bank for payment but have been subtracted in the checkbook. have been subtracted on the bank records but not the checkbook records. have been returned to the business for nonpayment. haven't been presented to the bank for payment and haven't been subtracted from the checkbook. Question 2 (5 points) Using the following information, calculate the adjusted cash balance at the end of April. $2.000 Bank statement ending cash balance General ledger cash balance...
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