Homework Answers
| Stationers R Us Pty Ltd's | ||
| Bank Reconciliation | ||
| January 31 | ||
| $ | $ | |
| Balance as per bank statement | 4,529.00 | |
| Add: Outstanding deposits | 370.00 | |
| 4,899.00 | ||
| Less: Unpresented cheques | 878.00 | |
| Balance as per Cash at Bank account | 4,021.00 | |
| Cash balance per books | 4,481.00 | |
| Less: Dishonoured cheque | 425.00 | |
| Bank charges | 35.00 | 460.00 |
| Adjusted cash balance per books | 4,021.00 |
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QUESTION 6 Stationers R Us Pty Ltd's bank reconciliation clerk is unable to reconcile the bank...
Stationers R Us Pty Ltd’s bank reconciliation clerk is unable to reconcile the bank balance at...
Stationers R Us Pty Ltd’s bank reconciliation clerk is unable to reconcile the bank balance at 31 January. The balance of the cash at bank account, before any entries for transactions initiated by the bank, was $4,147 in the company records. The clerk’s attempt at the bank reconciliation statement is as follows. $ Cash balance as per bank statement 4,145 Add: Dishonoured cheque from customer 475 Less: Bank charges 29 Less: Outstanding deposits 352 Add: Unpresented cheques 854 Cash balance...
The following information was available to reconcile Montrose Company’s book balance of Cash with its bank...
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Sky Company is unable to reconcile the bank balance at January 31. Sky's reconciliation is as...
Sky Company is unable to reconcile the bank balance at January 31. Sky's reconciliation is as follows. Cash balance per bank $5,300 1,570 Add: NSF check Less: Bank service charge 35 Adjusted balance per bank $6,835 $5,705 750 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books 1,950 $6,905 Prepare a correct bank reconciliation. (List items that increase cash balance first.)
Blue Company is unable to reconcile the bank balance at January 31. Blue’s reconciliation is as...
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Cheyenne is unable to reconcile the bank balance at January 31. Cheyenne's reconciliation is as follows....
Cheyenne is unable to reconcile the bank balance at January 31. Cheyenne's reconciliation is as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $4,300.20 320.00 34.00 $4,586.20 Cash balance per books $4,615.20 Less: Deposits in transit 900.00 Add: Outstanding checks 939.00 Adjusted balance per books $4,654.20 Prepare a correct bank reconciliation. (List items that increase cash balance first. Reconcile cash balance per bank first. Round answers to 2 decimal places, e.g. 52.75.)...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company's records $6,050 Adjustments: Outstanding checks $2,900 Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 450 Note for $9,500 collected by bank, indluding interest 9,880 Deposit in transit on July 31 (6,160) Bank service charges (60) Total adjustments 7,010 Cash balance according to bank statement $13,060 a. From the data in this...
Problem 6 (7 marks) In early April 2019, Bunny's Factoring received its monthly bank statement showing...
Problem 6 (7 marks) In early April 2019, Bunny's Factoring received its monthly bank statement showing a debit balance of $342 at 31 March 2019. On 31 March 2019, $720 cash received from debtors was not yet deposited at the bank. There were two unpresented cheques: Cheque no. 100 for $132, and no. 105 for $110. One dishonoured cheque for $250 from Hamster Ltd was returned by the bank. Cheque no. 110 issued for payment of rent for $400 appeared...
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...
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...
Exercise 7-9 Concord is unable to reconcile the bank balance at January 31. Concord's reconciliation is...
Exercise 7-9 Concord is unable to reconcile the bank balance at January 31. Concord's reconciliation is as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $4,440.20 250.00 33.00 $4,657.20 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,755.20 970.00 938.00 $4,723.20 Prepare a correct bank reconciliation. (List items that increase cash balance first Reconcile cash balance per bank first round answers to 2 decimal places,...
Sky Company is unable to reconcile the bank balance at January 31. Sky's reconciliation is as follows. Cash balance per bank $5,300 1,570 Add: NSF check Less: Bank service charge 35 Adjusted balance per bank $6,835 $5,705 750 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books 1,950 $6,905 Prepare a correct bank reconciliation. (List items that increase cash balance first.)
Cheyenne is unable to reconcile the bank balance at January 31. Cheyenne's reconciliation is as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $4,300.20 320.00 34.00 $4,586.20 Cash balance per books $4,615.20 Less: Deposits in transit 900.00 Add: Outstanding checks 939.00 Adjusted balance per books $4,654.20 Prepare a correct bank reconciliation. (List items that increase cash balance first. Reconcile cash balance per bank first. Round answers to 2 decimal places, e.g. 52.75.)...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company's records $6,050 Adjustments: Outstanding checks $2,900 Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 450 Note for $9,500 collected by bank, indluding interest 9,880 Deposit in transit on July 31 (6,160) Bank service charges (60) Total adjustments 7,010 Cash balance according to bank statement $13,060 a. From the data in this...
Problem 6 (7 marks) In early April 2019, Bunny's Factoring received its monthly bank statement showing a debit balance of $342 at 31 March 2019. On 31 March 2019, $720 cash received from debtors was not yet deposited at the bank. There were two unpresented cheques: Cheque no. 100 for $132, and no. 105 for $110. One dishonoured cheque for $250 from Hamster Ltd was returned by the bank. Cheque no. 110 issued for payment of rent for $400 appeared...
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...
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...
Exercise 7-9 Concord is unable to reconcile the bank balance at January 31. Concord's reconciliation is as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $4,440.20 250.00 33.00 $4,657.20 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,755.20 970.00 938.00 $4,723.20 Prepare a correct bank reconciliation. (List items that increase cash balance first Reconcile cash balance per bank first round answers to 2 decimal places,...
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