Homework Answers
| PARTICULARS | AMOUNT ($) |
| Calvins balance according to business cash account | 39,341.00 |
| Add: | 2,500.00 |
| Deposit in transit | |
| Less: | |
| Bnk service charges | 154.00 |
| Acustomers non sufficient funds (NSF) cheque returned by bank | 865.00 |
| Adjusted cash balance | 40,822.00 |
Add Answer to:
Question 15 While preparing the bank reconciation for Calvinsch unter the 3 korte tuttethette og loss...
u will have 15 minutes to upload your $10.608 tion 18 Bank reconciliation 340 At the...
u will have 15 minutes to upload your $10.608 tion 18 Bank reconciliation 340 At the end of the financial year, the following information has been collected Business cash t-account balance Deposits in transit 1.156 Bank service fee 152 Bank collection from a customer, not yet recorded by the business 1.539 A non-sufficient funds (NSF) cheque recorded on the bank statement An error in the business records for a cash collection from customer. The business recorded $100, it should have...
Problem 7-9A Preparing a bank reconciliation and recording adjustments LO6 Stewart Recording Studio, owned by Ron...
Problem 7-9A Preparing a bank reconciliation and recording adjustments LO6 Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: Stewart Recording Studio Bank Reconciliation March 31, 2020 Bank statement balance $ 21,300 Book balance $ 29,825 Add: Deposit of March 31 in transit 9,637 $ 30,937 Deduct: Outstanding cheques: #14 $ 807 #22 305 1,112 Adjusted bank balance $ 29,825 Adjusted book balance $ 29,825 Cash Acct. No. 101 Date Explanation PR Debit Credit...
Problem 7-9A Preparing a bank reconciliation and recording adjustments LO6 Stewart Recording Studio, owned by Ron...
Problem 7-9A Preparing a bank reconciliation and recording adjustments LO6 Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: Stewart Recording Studio Bank Reconciliation March 31, 2020 Bank statement balance $ 22,300 Book balance $ 31,225 Add: Deposit of March 31 in transit 10,090 $ 32,390 Deduct: Outstanding cheques: #14 $ 846 #22 319 1,165 Adjusted bank balance $ 31,225 Adjusted book balance $ 31,225 Cash Acct. No. 101 Date Explanation PR Debit Credit...
QUESTION 47 The Marjan Company's bank statement showed a balance of $14,087 on March 31, 2017....
QUESTION 47 The Marjan Company's bank statement showed a balance of $14,087 on March 31, 2017. In searching its records and the bank statement, Marjan found the following: $ 856 80 Outstanding checks Bank service charges Non-sufficient funds checks Deposits in transit Customer note collected by the bank 907 1,640 1,020 Based on this financial information, what should be the adjusted bank balance on the bank reconciliation? (Do Not enter dollar signs.) II
QUESTION 45 1 points Save Answer Andy, Inc. was in the process of reconciling its bank...
QUESTION 45 1 points Save Answer Andy, Inc. was in the process of reconciling its bank balance with the company records and found an unadjusted book balance of $17,120, outstanding checks of $2,065, non-sufficient funds (NSF) checks of $508, deposits in transit of $1,650, bank service charges of $75, a customer note collected by the bank of $3,000 and interest on the note collected of $40. The adjusted book balance on the bank reconciliation should be? (Do not enter dollar...
Question 2 The bank portion of the bank reconciliation for Suka Suka Berhad at September 30,...
Question 2 The bank portion of the bank reconciliation for Suka Suka Berhad at September 30, 2014, was as follows. Suka Suka Berhad Bank Reconciliation September 30, 2014 Bank statement balance Add: Deposits in transit RM 5,800 240 6,040 Less: Outstanding cheques Cheque Number 1047 1048 1049 Adjusted bank balance Cheque Amount RM 1,200 830 1,750 3,780 2.260 The adjusted bank balance agreed with the book balance at September 30. The October 2014 bank statement showed the following cheques and...
1. What is the purpose of a Bank Reconciliation Statement? 2.Preparing a bank Reconciliation Statement: •The...
1. What is the purpose of a Bank Reconciliation Statement? 2.Preparing a bank Reconciliation Statement: •The July 31 bank statement for Parkview Company indicated a cash balance of $5,000.17. •The cash ledger account on that date shows a balance of $4,262.83. •Four outstanding checks totaled $717.75. •A $410.90 deposit made after banking hours on July 31 does not appear in the bank statement. •On July 30, the bank returned J.B. Ball’s NSF check for $50.25, received as payment of an...
wir work) Prob#3: Use the following Information to Answer the Questions Below using a Bank Reconciliation...
wir work) Prob#3: Use the following Information to Answer the Questions Below using a Bank Reconciliation A. Assume Any Differences Found are Errors made by the Bank B. Items included on the Books (General Ledger) of the JW-Corp For May were as follows: 1. Ending GL Cash Balance at May 31st was $53,000 2. Deposits made During the month were on May 22nd=$11,000, May 28th $29,000, and May 30th=$30,000. 3. Checks written from our GL account were #302=$12,000, #303=$13,000, #304=$5,000,...
e owner's equity, delb d. contra asset, credit 2. A bank reconciliation should be prepared periodically...
e owner's equity, delb d. contra asset, credit 2. A bank reconciliation should be prepared periodically because a. the company's records and the bank's records are in agreement b. the bank has not recorded all of its transactions e. any differences between the company's records and the bank's records should be determined, and made by either party should be discovered and corrected d. the bank must make sure that its records are correct 3. Gunnar Company gathered the following reconciling...
E5-16 Bank reconciliation Identify each of the following reconciling items as: (a) an addition to the...
E5-16 Bank reconciliation Identify each of the following reconciling items as: (a) an addition to the cash balance ac- cording to the bank statement, (b) a deduction from the cash balance according to the bank statement, (c) an addition to the cash balance according to the company's records, or (d) a deduction from the cash balance according to the company's records. (None of the trans- actions reperted by bank debit and credit memos have been recorded by the company.) 1....
u will have 15 minutes to upload your $10.608 tion 18 Bank reconciliation 340 At the end of the financial year, the following information has been collected Business cash t-account balance Deposits in transit 1.156 Bank service fee 152 Bank collection from a customer, not yet recorded by the business 1.539 A non-sufficient funds (NSF) cheque recorded on the bank statement An error in the business records for a cash collection from customer. The business recorded $100, it should have...
QUESTION 47 The Marjan Company's bank statement showed a balance of $14,087 on March 31, 2017. In searching its records and the bank statement, Marjan found the following: $ 856 80 Outstanding checks Bank service charges Non-sufficient funds checks Deposits in transit Customer note collected by the bank 907 1,640 1,020 Based on this financial information, what should be the adjusted bank balance on the bank reconciliation? (Do Not enter dollar signs.) II
QUESTION 45 1 points Save Answer Andy, Inc. was in the process of reconciling its bank balance with the company records and found an unadjusted book balance of $17,120, outstanding checks of $2,065, non-sufficient funds (NSF) checks of $508, deposits in transit of $1,650, bank service charges of $75, a customer note collected by the bank of $3,000 and interest on the note collected of $40. The adjusted book balance on the bank reconciliation should be? (Do not enter dollar...
Question 2 The bank portion of the bank reconciliation for Suka Suka Berhad at September 30, 2014, was as follows. Suka Suka Berhad Bank Reconciliation September 30, 2014 Bank statement balance Add: Deposits in transit RM 5,800 240 6,040 Less: Outstanding cheques Cheque Number 1047 1048 1049 Adjusted bank balance Cheque Amount RM 1,200 830 1,750 3,780 2.260 The adjusted bank balance agreed with the book balance at September 30. The October 2014 bank statement showed the following cheques and...
wir work) Prob#3: Use the following Information to Answer the Questions Below using a Bank Reconciliation A. Assume Any Differences Found are Errors made by the Bank B. Items included on the Books (General Ledger) of the JW-Corp For May were as follows: 1. Ending GL Cash Balance at May 31st was $53,000 2. Deposits made During the month were on May 22nd=$11,000, May 28th $29,000, and May 30th=$30,000. 3. Checks written from our GL account were #302=$12,000, #303=$13,000, #304=$5,000,...
e owner's equity, delb d. contra asset, credit 2. A bank reconciliation should be prepared periodically because a. the company's records and the bank's records are in agreement b. the bank has not recorded all of its transactions e. any differences between the company's records and the bank's records should be determined, and made by either party should be discovered and corrected d. the bank must make sure that its records are correct 3. Gunnar Company gathered the following reconciling...
E5-16 Bank reconciliation Identify each of the following reconciling items as: (a) an addition to the cash balance ac- cording to the bank statement, (b) a deduction from the cash balance according to the bank statement, (c) an addition to the cash balance according to the company's records, or (d) a deduction from the cash balance according to the company's records. (None of the trans- actions reperted by bank debit and credit memos have been recorded by the company.) 1....
Most questions answered within 3 hours.
-
What social, political, and organizational behavior can
influence change in criminal justice agencies?
asked 5 minutes ago -
Explain the value chain defined by Michael Porter, and compare
it with the REA ontology definition....
asked 8 minutes ago -
Question:
A simple random sample of size n = 15 is collected for the
duration of...
asked 15 minutes ago -
you are required to select three countries or region with
distinctive cultural contexts. for each country/region...
asked 13 minutes ago -
Jozy Altidore invested $8,600 at 9% annual interest, and left
the money invested without withdrawing any...
asked 15 minutes ago -
How would you respond to this post?
On occasion, management is faced with a dilemma, and...
asked 18 minutes ago -
Chocolate Market research has revealed the following information
about the market for chocolate bars. The demand...
asked 33 minutes ago -
Question 19
For the reaction A(g) → 2B(g), Keq
= 4.5 x 105. Which statement is...
asked 46 minutes ago -
What is a machine? What are some mechanical advantages to
using a machine? How do you...
asked 51 minutes ago -
A 1.07 10-3 µF capacitor has an initial charge of 0.100 C. When
a resistor is...
asked 57 minutes ago -
A local food delivery company “quiksnak” wants to improve its
process to provide better customer service....
asked 53 minutes ago -
A building will require capital improvements of $1 million in
five years. Assuming monthly cash flow...
asked 1 hour ago