Problem 4-61A Bank Reconciliation Romain Corporation received the following bank statement for the month of October:...
problem 4 Prepare a bank a bank reconciliation dated December 31, 2017, for Welcome Inc. based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2.150,00 were not returned with the bank statement The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an...
Teng Corporation received a bank statement showing a balance of $14,950 as of October 31, 2019. The firm's records showed ab balance of $14,467 on October 31. The difference between the two balances was caused by the following items 1. A debit memorandum for an NSF check from Richard Wolf for $429. 2. Three outstanding checks: Check 7017 for $129. Check 7098 for $60, and Check 7107 for $1,610. 3. A bank service charge of $25. 4. A deposit in...
Exercise 4-44 Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $22,381, whereas Johnson's cash account shows a balance of $22,025 on October 31. The following additional information is available: a. A $855 deposit made on October 31 was not recorded by the bank until November b. At the end of October, outstanding checks total $1,222. C. The bank statement shows bank service charges of $125 not yet recorded by the company. d. The company erroneously...
Exercise 4-44 (Algorithmic) Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $21,676, whereas Johnson's cash account shows a balance of $21,220 on October 31. The following additional information is available: A $755 deposit made on October 31 was not recorded by the bank until November. At the end of October, outstanding checks total $1,222. The bank statement shows bank service charges of $125 not yet recorded by the company. The company erroneously recorded as $973...
Teng Corporation received a bank statement showing a balance of $14.550 as of October 31, 2019. The firm's records showed a book balance of $14.139 on October 31. The difference between the two balances was caused by the following items 1. A debit memorandum for an NSF check from Richard Wolf for $421. 2. Three outstanding checks: Check 7017 for $121, Check 7098 for $52, and Check 7107 for $1,530, 3. A bank service charge of $17. 4. A deposit...
Q3. (25 marks) The following information is available to Sunwing Company to prepare its bank reconciliation at the end of March 2022: The company recorded a $1,764 cheque in payment of an account payable incorrectly as $1,674. The bank charged the company $45 for monthly standard service charges. A review of cashed cheques returned with the bank statement indicated that cheques amounting to$3,431 had not been cashed by March 31. March 31 general ledger Cash account balance is $12,010. The...
Q3. (25 marks) The following information is available to Sunwing Company to prepare its bank reconciliation at the end of March 2022: The company recorded a $1,764 cheque in payment of an account payable incorrectly as $1,674. The bank charged the company $45 for monthly standard service charges. A review of cashed cheques returned with the bank statement indicated that cheques amounting to$3,431 had not been cashed by March 31. March 31 general ledger Cash account balance is $12,010. The...
Q3. (25 marks) The following information is available to Sunwing Company to prepare its bank reconciliation at the end of March 2022: The company recorded a $1,764 cheque in payment of an account payable incorrectly as $1,674. The bank charged the company $45 for monthly standard service charges. A review of cashed cheques returned with the bank statement indicated that cheques amounting to$3,431 had not been cashed by March 31. March 31 general ledger Cash account balance is $12,010. The...
Q3. (25 marks) The following information is available to Sunwing Company to prepare its bank reconciliation at the end of March 2022: The company recorded a $1,764 cheque in payment of an account payable incorrectly as $1,674. The bank charged the company $45 for monthly standard service charges. A review of cashed cheques returned with the bank statement indicated that cheques amounting to$3,431 had not been cashed by March 31. March 31 general ledger Cash account balance is $12,010. The...
The following information was available to reconcile Montrose Company’s book balance of Cash with its bank statement balance as of October 31, 2020: a. After all posting was completed on October 31, the company’s Cash account had a $13,219 debit balance but its bank statement showed a $29,355 balance. b. Cheques #296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank reconciliation. Cheque #307 was returned with the October cancelled cheques, but cheque #296 was not....