Homework Answers
| Cash receipt per book | |
| Deposits per bank | 500,000 |
| Deposits in transit (3/31) | (100,000) |
| Deposits in transit (4/30) | 150,000 |
| Cash receipt | 550,000 |
| Cash payment per book | |
| Disbursements per bank | 600,000 |
| Disbursements outstanding (3/31) | (125,000) |
| Disbursements outstanding (4/30) | 75,000 |
| Cash payment | 550,000 |
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Your answer 2 points Problem GOC: On March 31, 2020, GOC Company has the following information:...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March 31 bank statemen...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March 31 bank statement shows an ending cash balance of $68,066. The general ledger Cash account. No. 101. shows an ending cash balance per books of $68,578 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following. a. The bank erroneously cleared a $520 check against the company account in...
... here are some options ... blish Company has just received the August 31, 2020, bank...
...
here are some options ...
blish Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $60 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $13.950 $47,946 61.896 1.549 63,445 $51,370 12.075 12,045 12.045 The general ledger Cash account contained the following entries for the month of August. Cash Balance August 1 1 4.964 Disbursements...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March 31 bank statement shows an ending cash balance of $67,766. The general ledger Cash account, No. 101, shows an ending cash balance per books of $68,222 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following a. The bank erroneously cleared a $460 check against the company account in...
Problem 2 (25 points) At March 31, the balance of the Cash account according to the...
Problem 2 (25 points) At March 31, the balance of the Cash account according to the records of $17,309. The March 31 bank statement showed a balance of $12,360. You are to prepare the bank reconciliation of Lincoln Company at March 31, using the following supplementary information Lincoln Company was (a.) Deposit in transit at March 31, $6,309. (b.) Outstanding checks: no. 110, $121; no. 111, $209; no. 122, $365; (c.) Service charge by bank, $50. (d.) A note receivable...
Negros Island Navigation has the following information for bank reconciliation Bank Balance as of December 1,...
Negros Island Navigation has the following information for
bank reconciliation
Bank Balance as of December 1, 2020 —————————50,000.00
Deposits—————————————————————————-90,000.00
Checks Issued ———————————————-——————-45,000.00
Bank Service Charge ————————————————-————500.00
Note Collected, including interest of
P300.00,0—————-5,600.00
A check amounting to 1,000.00 was recorded by the bank as
disbursement for 10,000.00.
All outstanding checks in November was negotiated while on
December, P65,000.00. is still outstanding.
December Deposit in transit is P10,000.
Collection of P6,000.00 was deposited but not recorded by the
company.
A check dated...
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...
The bookkeeper at Jefferson Company has not reconciled the bankstatement with the Cash account, saying,...
The bookkeeper at Jefferson Company has not reconciled the bank
statement with the Cash account, saying, “I don’t have time.” You
have been asked to prepare a reconciliation and review the
procedures with the bookkeeper. The April 30, 2014, bank statement
and the April ledger accounts for cash showed the following
(summarized):BANK STATEMENTChecksDeposits Balance Balance,
April 1, 2014$32,300 Deposits during
April$37,70070,000 Interest
collected1,36071,360 Checks cleared
during April$46,20025,160 NSF check—A. B.
Wright18024,980 Bank service
charges21024,770 Balance, April 30,
201424,770Cash (A) Apr. 1
Balance25,200 Apr.
Checks written41,700 Apr.
Deposits42,100 A comparison of checks written...
Negros Island Navigation has the following information for bank reconciliation Bank Balance as of December 1,...
Negros Island Navigation has the following information for bank reconciliation Bank Balance as of December 1, 2020 -50,000.00 Deposits--- --90,000.00 Checks issued --45,000.00 Bank Service Charge --500.00 Note Collected, including interest of P300.00,0------5,600.00 A check amounting to 1,000.00 was recorded by the bank as disbursement for 10,000.00 All outstanding checks in November was negotiated while on December, P65,000.00. is still outstanding. December Deposit in transit is P10,000. Collection of P6,000.00 was deposited but not recorded by the company. A check...
PROBLEM 3.0 POINTS Problem Requirements complete the Bank Heconciliation form below using the following March information...
PROBLEM 3.0 POINTS Problem Requirements complete the Bank Heconciliation form below using the following March information No journal entry is required for this problem CASH BALANCES.331 Cash onlance lank Statement, or Bank 11.725 Cash Balance Company Books, or Book 10,480 RECONCILING ITEMS CHECKS MALLED ON MARCH 31 CHECK 4400 CHECK 2001 CHECK #402 > BANK SERVICE FEE NOT RECORDED ON BOOKS > CASH RECEIPT DEPOSITED IN NIGHT DEPOSITORY AND CREDITED TO BANK ACCOUNT ON APRIL 1 > INTEREST EARNED ON...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March 31 bank statement shows an ending cash balance of $67,166. The general ledger Cash account, No. 101, shows an ending cash balance per books of $67,598 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following. The bank erroneously cleared a $460 check against the company account in March...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March 31 bank statement shows an ending cash balance of $68,066. The general ledger Cash account. No. 101. shows an ending cash balance per books of $68,578 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following. a. The bank erroneously cleared a $520 check against the company account in...
...
here are some options ...
blish Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $60 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $13.950 $47,946 61.896 1.549 63,445 $51,370 12.075 12,045 12.045 The general ledger Cash account contained the following entries for the month of August. Cash Balance August 1 1 4.964 Disbursements...
Santana Rey receives the March bank statement for Business Solutions on April 11, 2020. The March 31 bank statement shows an ending cash balance of $67,766. The general ledger Cash account, No. 101, shows an ending cash balance per books of $68,222 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following a. The bank erroneously cleared a $460 check against the company account in...
Problem 2 (25 points) At March 31, the balance of the Cash account according to the records of $17,309. The March 31 bank statement showed a balance of $12,360. You are to prepare the bank reconciliation of Lincoln Company at March 31, using the following supplementary information Lincoln Company was (a.) Deposit in transit at March 31, $6,309. (b.) Outstanding checks: no. 110, $121; no. 111, $209; no. 122, $365; (c.) Service charge by bank, $50. (d.) A note receivable...
Negros Island Navigation has the following information for
bank reconciliation
Bank Balance as of December 1, 2020 —————————50,000.00
Deposits—————————————————————————-90,000.00
Checks Issued ———————————————-——————-45,000.00
Bank Service Charge ————————————————-————500.00
Note Collected, including interest of
P300.00,0—————-5,600.00
A check amounting to 1,000.00 was recorded by the bank as
disbursement for 10,000.00.
All outstanding checks in November was negotiated while on
December, P65,000.00. is still outstanding.
December Deposit in transit is P10,000.
Collection of P6,000.00 was deposited but not recorded by the
company.
A check dated...
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...
The bookkeeper at Jefferson Company has not reconciled the bank
statement with the Cash account, saying, “I don’t have time.” You
have been asked to prepare a reconciliation and review the
procedures with the bookkeeper. The April 30, 2014, bank statement
and the April ledger accounts for cash showed the following
(summarized):BANK STATEMENTChecksDeposits Balance Balance,
April 1, 2014$32,300 Deposits during
April$37,70070,000 Interest
collected1,36071,360 Checks cleared
during April$46,20025,160 NSF check—A. B.
Wright18024,980 Bank service
charges21024,770 Balance, April 30,
201424,770Cash (A) Apr. 1
Balance25,200 Apr.
Checks written41,700 Apr.
Deposits42,100 A comparison of checks written...
Negros Island Navigation has the following information for bank reconciliation Bank Balance as of December 1, 2020 -50,000.00 Deposits--- --90,000.00 Checks issued --45,000.00 Bank Service Charge --500.00 Note Collected, including interest of P300.00,0------5,600.00 A check amounting to 1,000.00 was recorded by the bank as disbursement for 10,000.00 All outstanding checks in November was negotiated while on December, P65,000.00. is still outstanding. December Deposit in transit is P10,000. Collection of P6,000.00 was deposited but not recorded by the company. A check...
PROBLEM 3.0 POINTS Problem Requirements complete the Bank Heconciliation form below using the following March information No journal entry is required for this problem CASH BALANCES.331 Cash onlance lank Statement, or Bank 11.725 Cash Balance Company Books, or Book 10,480 RECONCILING ITEMS CHECKS MALLED ON MARCH 31 CHECK 4400 CHECK 2001 CHECK #402 > BANK SERVICE FEE NOT RECORDED ON BOOKS > CASH RECEIPT DEPOSITED IN NIGHT DEPOSITORY AND CREDITED TO BANK ACCOUNT ON APRIL 1 > INTEREST EARNED ON...
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