Prepare the adjustment that the
clerk would have made to record the NSF check. Increase or Decrease
which accounts
Homework Answers
Solution:
Adjustment that the clerk would have made to record the NSF check:
Adjustment to "Increase" accounts receivable by "$1350" and "decrease" cash by "$1350".
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Prepare the adjustment that the
clerk would have made to record the NSF check. Increase or...
Help Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 points Cash Bank...
Help Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 points Cash Bank Account Statement $23,895 $19,905 5,000 (490) 1,340 (20) (800) $24,415 $ 24, 415 Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 eBook References As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account Bank Statement...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account Bank Statement Balance as of 6/30/2018 $ 25,220 $ 21,265 Deposit in transit 4,675 Outstanding checks (400 ) Note collected by bank 1,065 Bank service charge (45 ) NSF check (700 ) Adjusted cash balance as of 6/30/2018 $ 25,540 $ 25,540 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 2: Cash Account Bank...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 2: Cash Account Bank Statement Balance as of 6/30/Year 2 $ 23,880 $ 20,185 Deposit in transit 4,425 Outstanding checks (485 ) Note collected by bank 1,335 Bank service charge (40 ) NSF check (1,050 ) Adjusted cash balance as of 6/30/Year 2 $ 24,125 $ 24,125 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,485 Bank...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,485 Bank Statement $20,785 4,500 (420) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 1,760 (30) (1,350) $24,865 $24,865 When reviewing the bank reconciliation, Zocar's auditor was unable to locate any reference to the NSF check on the bank statement. Furthermore, the clerk who reconciles the bank account and records...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: Cash Account $23,510...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: Cash Account $23,510 Bank Statenent $20,000 4,725 (520) Balance as of 6/30/Year 1 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSP cheek adjusted cash balance as of 6/30/Year 1 1,660 (15) $24, 205 $24,205 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay...
1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The...
1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash account balance had a balance of $3,975.00. Prepare bank reconciliation on the basis of the following information, and journalize the changes on the company's cash balance. Cash Receipts of $672 had been recorded on the company's books as $654, • Deposits in transit not record by the bank, $400 • Bank service charges, $20 Note collected by the bank and not yet notified...
SLLALTUnenens Exercise 7-9 This information relates to the Cash account in the ledger of Oriole Company Balance S...
SLLALTUnenens Exercise 7-9 This information relates to the Cash account in the ledger of Oriole Company Balance September 1-$20,570; Cash deposited-$64,000 Balance September 30-$21,770; Checks written-$62,800 The September bank statement shows a balance of $20,670 at September 30 and the following memoranda. Credits Collection of electronic funds transfer Debits NSF check: H. Kane $2,400 $1,130 Interest earned on checking account 60 Safety deposit box rent 75 At September 30, deposits in transit were $5,323 and outstanding checks totaled $2,968. Prepare...
Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation...
Egrane, Inc.'s monthly bank statement showed the ending balance
of cash of $14,800. The bank reconciliation for the period showed
an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
$1,200.
What journal entry should be recorded by Egrane for the NSF
check returned?
MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the...
Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6,462. The reconciliation recognized the following items: Deposits in transit were $3,326. Outstanding checks totaled $2,634. Bank service charges shown as a deduction on the bank statement were $59. An NSF check from a customer for $618 was included with the bank statement. Beckett Co....
The information below relates to the Cash account in the ledger of Oriole Company. Balance September...
The information below relates to the Cash account in the ledger of Oriole Company. Balance September 1-$17,400; Cash deposited-$64,410. Balance September 30-$17,744; Checks written-$64,066. The September bank statement shows a balance of $16,762 on September 30 and the following memoranda. Credits Debits Collection of $1,660 note plus interest $40 $1,700 NSF check: Richard Nance $595 Interest earned on checking account $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,620, and outstanding checks totaled $2,553. Prepare...
Help Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 points Cash Bank Account Statement $23,895 $19,905 5,000 (490) 1,340 (20) (800) $24,415 $ 24, 415 Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 eBook References As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient...
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 Cash Account $24,485 Bank Statement $20,785 4,500 (420) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 1,760 (30) (1,350) $24,865 $24,865 When reviewing the bank reconciliation, Zocar's auditor was unable to locate any reference to the NSF check on the bank statement. Furthermore, the clerk who reconciles the bank account and records...
Following is a bank reconciliation for Zocar Enterprises for June 30, Year 1: Cash Account $23,510 Bank Statenent $20,000 4,725 (520) Balance as of 6/30/Year 1 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSP cheek adjusted cash balance as of 6/30/Year 1 1,660 (15) $24, 205 $24,205 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay...
1. The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash account balance had a balance of $3,975.00. Prepare bank reconciliation on the basis of the following information, and journalize the changes on the company's cash balance. Cash Receipts of $672 had been recorded on the company's books as $654, • Deposits in transit not record by the bank, $400 • Bank service charges, $20 Note collected by the bank and not yet notified...
SLLALTUnenens Exercise 7-9 This information relates to the Cash account in the ledger of Oriole Company Balance September 1-$20,570; Cash deposited-$64,000 Balance September 30-$21,770; Checks written-$62,800 The September bank statement shows a balance of $20,670 at September 30 and the following memoranda. Credits Collection of electronic funds transfer Debits NSF check: H. Kane $2,400 $1,130 Interest earned on checking account 60 Safety deposit box rent 75 At September 30, deposits in transit were $5,323 and outstanding checks totaled $2,968. Prepare...
Egrane, Inc.'s monthly bank statement showed the ending balance
of cash of $14,800. The bank reconciliation for the period showed
an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
$1,200.
What journal entry should be recorded by Egrane for the NSF
check returned?
MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
The information below relates to the Cash account in the ledger of Oriole Company. Balance September 1-$17,400; Cash deposited-$64,410. Balance September 30-$17,744; Checks written-$64,066. The September bank statement shows a balance of $16,762 on September 30 and the following memoranda. Credits Debits Collection of $1,660 note plus interest $40 $1,700 NSF check: Richard Nance $595 Interest earned on checking account $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,620, and outstanding checks totaled $2,553. Prepare...
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