the second entry is " record
the amounts that decrease cash"
Homework Answers
| Damon Company | |||||
| Bank Reconciliation | |||||
| October 31, 2021 | |||||
| Bank's cash balance | Company's book balance | ||||
| Per bank statement | $ 12,165 | Per general ledger | $ 8,415 | ||
| Deposits outstanding ($74440-$71325) | $ 3,115 | Service fees | $ -210 | ||
| Check outstanding ($71090-$72485) | $ -1,395 | Notes received | $ 5,600 | ||
| Bank error | $ 540 | Interest earned | $ 620 | ||
| Bank balance per reconciliation | $ 14,425 | Company balance per reconciliation | $ 14,425 | ||
| Date | Account Titles and Explanation | Debit | Credit | ||
| 1 | October 31, 2021 | Cash | $ 6,220 | ||
| Note receivable | $ 5,600 | ||||
| Interest revenue | $ 620 | ||||
| 2 | October 31, 2021 | Service fees expense | $ 210 | ||
| Cash | $ 210 | ||||
Add Answer to:
the second entry is " record
the amounts that decrease cash"
On October 31, 2021, Damon...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,436. The...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,436. The company's cash receipts for the month total $74,580, of which $71,360 has been deposited in the bank. In addition, the company has written checks for $72,506, of which $71,216 has been processed by the bank The bank statement reveals an ending balance of $12,676 and includes the following items not yet recorded by Damon: bank service fees of $280, note receivable collected by the...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8.439. The...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8.439. The company's cash receipts for the month total $74,600, of which $71,365 has been deposited in the bank. In addition, the company has written checks for $72,509, of which $71,234 has been processed by the bank. The bank statement reveals an ending balance of $12,749 and includes the following items not yet recorded by Damon: bank service fees of $290, note receivable collected by the...
On October 31, 2021. Damon Company's general ledger shows a checking account balance of $8,430. The...
On October 31, 2021. Damon Company's general ledger shows a checking account balance of $8,430. The company's cash receipts for the month total $74,540, of which $71,350 has been deposited in the bank. In addition, the company has written checks for $72,500, of which $71,180 has been processed by the bank. The bank statement reveals an ending balance of $12,530 and includes the following items not yet recorded by Damon: bank service fees of $260, note receivable collected by the...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,442. The...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,442. The company's cash receipts for the month total $74,620, of which $71,370 has been deposited in the bank. In addition, the company has written checks for $72,512, of which $71,252 has been processed by the bank, The bank statement reveals an ending balance of $12,822 and includes the following items not yet recorded by Damon: bank service fees of $300, note receivable collected by the...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,445. The...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,445. The company's cash receipts for the month total $74,640, of which $71,375 has been deposited in the bank. In addition, the company has written checks for $72,515, of which $71,270 has been processed by the bank points The bank statement reveals an ending balance of $12,895 and includes the following items not yet recorded by Damon: bank service fees of $310, note receivable collected by...
On October 31, 2021, Damon Company’s general ledger shows a checking account balance of $8,400. The...
On October 31, 2021, Damon Company’s general ledger shows a
checking account balance of $8,400. The company’s cash receipts for
the month total $74,340, of which $71,300 has been deposited in the
bank. In addition, the company has written checks for $72,470, of
which $71,000 has been processed by the bank.
The bank statement reveals an ending balance of $11,800 and
includes the following items not yet recorded by Damon: bank
service fees of $160, note receivable collected by the...
Exam - Chapters 45,6 Seved Help Save & EX On October 31, 2021, the bank statement...
Exam - Chapters 45,6 Seved Help Save & EX On October 31, 2021, the bank statement for a company shows a balance of $12.895, while the company's records show a balance of $8.445. Information that might be useful in preparing a bank reconciliation follows: -- The company's cash receipts for the month total $74,640, of which $71,375 has been deposited in the bank. --The company has written checks for $72,515, of which $71,270 has been processed by the bank. --Bank...
Saved On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance...
Saved On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,854. Cash receipts yet to be deposited into the checking account total $3,248, and checks written by the academy but not yet processed by the bank total $1,335 The company's balance of cash does not reflect a bank service fee of $26 and interest earned on the checking account of $37. These amounts are included in the balance of cash of...
On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for...
On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7864. Cash receipts yet to be deposited into the checking account total $3,258, and checks written by the academy but not yet processed by the bank total $1.345. The company's balance of cash does not reflect a bank service fee of $27 and interest earned on the checking account of $38. These amounts are included in the balance of cash of $5.962...
Exercise 4-10A Calculate the balance of cash using a bank reconciliation (L04-5) On August 31, 2021,...
Exercise 4-10A Calculate the balance of cash using a bank reconciliation (L04-5) On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7774. Cash receipts yet to be deposited into the checking account total $3,168, and checks written by the academy but not yet processed by the bank total $1,255. The company's balance of cash does not reflect a bank service fee of $18 and interest earned on the checking account of...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,436. The company's cash receipts for the month total $74,580, of which $71,360 has been deposited in the bank. In addition, the company has written checks for $72,506, of which $71,216 has been processed by the bank The bank statement reveals an ending balance of $12,676 and includes the following items not yet recorded by Damon: bank service fees of $280, note receivable collected by the...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8.439. The company's cash receipts for the month total $74,600, of which $71,365 has been deposited in the bank. In addition, the company has written checks for $72,509, of which $71,234 has been processed by the bank. The bank statement reveals an ending balance of $12,749 and includes the following items not yet recorded by Damon: bank service fees of $290, note receivable collected by the...
On October 31, 2021. Damon Company's general ledger shows a checking account balance of $8,430. The company's cash receipts for the month total $74,540, of which $71,350 has been deposited in the bank. In addition, the company has written checks for $72,500, of which $71,180 has been processed by the bank. The bank statement reveals an ending balance of $12,530 and includes the following items not yet recorded by Damon: bank service fees of $260, note receivable collected by the...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,442. The company's cash receipts for the month total $74,620, of which $71,370 has been deposited in the bank. In addition, the company has written checks for $72,512, of which $71,252 has been processed by the bank, The bank statement reveals an ending balance of $12,822 and includes the following items not yet recorded by Damon: bank service fees of $300, note receivable collected by the...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,445. The company's cash receipts for the month total $74,640, of which $71,375 has been deposited in the bank. In addition, the company has written checks for $72,515, of which $71,270 has been processed by the bank points The bank statement reveals an ending balance of $12,895 and includes the following items not yet recorded by Damon: bank service fees of $310, note receivable collected by...
On October 31, 2021, Damon Company’s general ledger shows a
checking account balance of $8,400. The company’s cash receipts for
the month total $74,340, of which $71,300 has been deposited in the
bank. In addition, the company has written checks for $72,470, of
which $71,000 has been processed by the bank.
The bank statement reveals an ending balance of $11,800 and
includes the following items not yet recorded by Damon: bank
service fees of $160, note receivable collected by the...
Exam - Chapters 45,6 Seved Help Save & EX On October 31, 2021, the bank statement for a company shows a balance of $12.895, while the company's records show a balance of $8.445. Information that might be useful in preparing a bank reconciliation follows: -- The company's cash receipts for the month total $74,640, of which $71,375 has been deposited in the bank. --The company has written checks for $72,515, of which $71,270 has been processed by the bank. --Bank...
Saved On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,854. Cash receipts yet to be deposited into the checking account total $3,248, and checks written by the academy but not yet processed by the bank total $1,335 The company's balance of cash does not reflect a bank service fee of $26 and interest earned on the checking account of $37. These amounts are included in the balance of cash of...
On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7864. Cash receipts yet to be deposited into the checking account total $3,258, and checks written by the academy but not yet processed by the bank total $1.345. The company's balance of cash does not reflect a bank service fee of $27 and interest earned on the checking account of $38. These amounts are included in the balance of cash of $5.962...
Exercise 4-10A Calculate the balance of cash using a bank reconciliation (L04-5) On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7774. Cash receipts yet to be deposited into the checking account total $3,168, and checks written by the academy but not yet processed by the bank total $1,255. The company's balance of cash does not reflect a bank service fee of $18 and interest earned on the checking account of...
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