Accounting
1) When performing a bank reconciliation, which of the following items will be used to balance the bank statement side of the reconciliation?
a) Deposits in transit.
b) Outstanding checks.
c) Service charges.
d) Both a and b.
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
1. Which one which one of the following items would NOT be considered cash a. Coins...
1. Which one which one of the following items would NOT be considered cash a. Coins b. Money orders e. Currency d. Postdated checks 2. A bank statement: a shows the activities that increased or decreased the depositor's account balance b. is a credit reference letter written by the depositor's bank. is a bill from the bank for services rendered. d lets a depositor know the financial position of the bank as of a certain date. 3. A NSF check...
Accounting I problem
In preparing its bank reconciliation for the month of April, 2012, Delano, Inc. has availale teh following infor:balance per bank statement 4/30/2012 $39,300NSG check returned with 4/30/2012 bank statement $470deposits in transit, 4/30/12 $5,000outstanding checks, 4/30/12 $5,200bank service charges for April $30What should be the adjusted cash balance at April 30, 2012?a) $38,630b) $38,800c) 39,010d) 39,100
Accounting
Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,360 and the bank statement showed a bank balance of $1,445. Outstanding checks totaled $350 and deposits in transit were $150. The bank statement listed service charges of $30 and NSF checks totaling $85. The corrected cash balance is:Multiple Choice$1,130.$1,160.$1,245.$1,445.
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized...
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized below. Disbursements Receipts Balance County National Bank Balance, August 1 $15.215 Deposits during August $52,293 67,508 Note collected for depositor, including $65 interest 1,689 69,197 Checks cleared during August $56,028 13,169 Bank service charges 32 13,137 Balance, August 31 13,137 The general ledger Cash account contained the following entries for the month of August. Cash 16,321 Disbursements in August 56,840 Balance, August 1 56,694...
Sage Hill Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following...
Sage Hill Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information. Balance, August 1 $18,635 Bank debit memorandum: August deposits 71,235 Safety deposit box fee $ 40 Checks cleared in August 68,663 Service charge 65 Bank credit memorandum: Balance, August 31 21,162 Interest earned 60 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $18,935; receipts $74,235; disbursements $73,555; and balance, August 31, $19,615. Analysis reveals...
Chapter 8 Cash, Fraud, and Internal Controls bank or book 3-5 reconciliation uch of the following...
Chapter 8 Cash, Fraud, and Internal Controls bank or book 3-5 reconciliation uch of the following items a through g. indicate whether its amount (1) affects the bank of a bank reconciliation. (2) represents an addition or a subtraction in a bank reconciliation and quires an adjusting journal entry. Add or Subtract Adj. Entry or Not Bank or Book Side a. Interest on cash balance ...... b. Bank service charges........... c. Minimum balance charge... d. Outstanding checks e. Credit memo...
QS 7-9 Bank reconciliation LO6 1. Identify whether each of the following items affects the bank...
QS 7-9 Bank reconciliation LO6 1. Identify whether each of the following items affects the bank or book side of the end cate if the amount represents an addition or a subtraction: a. Deposits in transit. e. Outstanding cheques. b. Interest on average monthly balance. f. Debit memos. c. Credit memos. g. NSF cheques. d. Bank service charges. 2. Which of the previous items require a journal entry?
eptember 30, before reconciliation. The September 30 uded deposits in transit, $6,200, bank service charges, $120;...
eptember 30, before reconciliation. The September 30 uded deposits in transit, $6,200, bank service charges, $120; 2,850, outstanding checks, $1,280 and interest credited to $90 ad to reflect the reconciling items for Happ Inc at September 5.) Income Statement Reventos Stockholders' Equity Net income Accounts payable Accounts receivable Cash Interest revenue The balance in Happ Inc.'s general ledger Cash account was $71,580 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $63,780. Reconciling items...
An accounting clerk prepared the following bank reconciliation for Inges Corp. Inges Corp Bank Reconciliation August...
An accounting clerk prepared the following bank reconciliation for Inges Corp. Inges Corp Bank Reconciliation August 31 Cash balance according to company records $14,690 Adjustments: Outstanding checks $1,020 Error by company in recording Ck. 2490 as $1.540 instead of $1.450 90 Note collected by bank, including $200 interest 3,200 Deposits in transit on August 31 (2,750) Bank service charges _(40) Total adjustments 1,520 Cash balance according to bank statement $16,210 (a) Use the data in the bank reconciliation to prepare...
The following reconciling items are applicable to the bank reconciliation for Forde Co. Indicate how each...
The following reconciling items are applicable to the bank reconciliation for Forde Co. Indicate how each item should be shown on a bank reconciliation. (a) Outstanding checks. Bank debit memorandum for service charge. (b) Bank credit memorandum for collecting an electronic funds transfer. (c) Deposit in transit. (d) At July 31, Blossom Company has this bank information: cash balance per bank $7.000, outstanding checks $650, deposits in transit $1,200 and a bank service charge $10. Determine the adjusted cash balance...
1. Which one which one of the following items would NOT be considered cash a. Coins b. Money orders e. Currency d. Postdated checks 2. A bank statement: a shows the activities that increased or decreased the depositor's account balance b. is a credit reference letter written by the depositor's bank. is a bill from the bank for services rendered. d lets a depositor know the financial position of the bank as of a certain date. 3. A NSF check...
Exercise 7-25 Novak Company has just received the August 31, 2017, bank statement, which is summarized below. Disbursements Receipts Balance County National Bank Balance, August 1 $15.215 Deposits during August $52,293 67,508 Note collected for depositor, including $65 interest 1,689 69,197 Checks cleared during August $56,028 13,169 Bank service charges 32 13,137 Balance, August 31 13,137 The general ledger Cash account contained the following entries for the month of August. Cash 16,321 Disbursements in August 56,840 Balance, August 1 56,694...
Sage Hill Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information. Balance, August 1 $18,635 Bank debit memorandum: August deposits 71,235 Safety deposit box fee $ 40 Checks cleared in August 68,663 Service charge 65 Bank credit memorandum: Balance, August 31 21,162 Interest earned 60 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $18,935; receipts $74,235; disbursements $73,555; and balance, August 31, $19,615. Analysis reveals...
Chapter 8 Cash, Fraud, and Internal Controls bank or book 3-5 reconciliation uch of the following items a through g. indicate whether its amount (1) affects the bank of a bank reconciliation. (2) represents an addition or a subtraction in a bank reconciliation and quires an adjusting journal entry. Add or Subtract Adj. Entry or Not Bank or Book Side a. Interest on cash balance ...... b. Bank service charges........... c. Minimum balance charge... d. Outstanding checks e. Credit memo...
QS 7-9 Bank reconciliation LO6 1. Identify whether each of the following items affects the bank or book side of the end cate if the amount represents an addition or a subtraction: a. Deposits in transit. e. Outstanding cheques. b. Interest on average monthly balance. f. Debit memos. c. Credit memos. g. NSF cheques. d. Bank service charges. 2. Which of the previous items require a journal entry?
eptember 30, before reconciliation. The September 30 uded deposits in transit, $6,200, bank service charges, $120; 2,850, outstanding checks, $1,280 and interest credited to $90 ad to reflect the reconciling items for Happ Inc at September 5.) Income Statement Reventos Stockholders' Equity Net income Accounts payable Accounts receivable Cash Interest revenue The balance in Happ Inc.'s general ledger Cash account was $71,580 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $63,780. Reconciling items...
An accounting clerk prepared the following bank reconciliation for Inges Corp. Inges Corp Bank Reconciliation August 31 Cash balance according to company records $14,690 Adjustments: Outstanding checks $1,020 Error by company in recording Ck. 2490 as $1.540 instead of $1.450 90 Note collected by bank, including $200 interest 3,200 Deposits in transit on August 31 (2,750) Bank service charges _(40) Total adjustments 1,520 Cash balance according to bank statement $16,210 (a) Use the data in the bank reconciliation to prepare...
The following reconciling items are applicable to the bank reconciliation for Forde Co. Indicate how each item should be shown on a bank reconciliation. (a) Outstanding checks. Bank debit memorandum for service charge. (b) Bank credit memorandum for collecting an electronic funds transfer. (c) Deposit in transit. (d) At July 31, Blossom Company has this bank information: cash balance per bank $7.000, outstanding checks $650, deposits in transit $1,200 and a bank service charge $10. Determine the adjusted cash balance...
Most questions answered within 3 hours.
-
If
the more comprehensive data is available in MEPS, why does the NHIS
still exist? How...
asked 19 minutes ago -
Koo argues that the Japanese economy in the 1990s suffered from
a balance sheet recession. What...
asked 12 minutes ago -
Automobile mechanics conduct diagnosis tests on 150 new cars of
particular make and model to determine...
asked 6 minutes ago -
11) Find the proceeds of a 5 year non-interest
bearing note for $6500 discounted 2.5 years...
asked 13 minutes ago -
Required: Prepare the consolidated financial statements of
Griffin Ltd at 30 June 2019.
Griffin Ltd is...
asked 22 minutes ago -
1.How large must the coefficient of static friction be between
the tires and the road if...
asked 37 minutes ago -
What is the time complexity (Big-O) of the following code?
class Main
{
// Recursive...
asked 37 minutes ago -
Economists look at any situation in terms of its component
parts: the people making decisions, the...
asked 42 minutes ago -
What is a population?
Select one:
a. All of the individual organisms belonging to the same...
asked 47 minutes ago -
You have a yeast cell culture with a concentration of 5x10^4
cells/ml. If you dilute this...
asked 51 minutes ago -
In which direction the Reaction goes? Show detailed process.
SeO3 + 2ClO2. + 2H3O <---> Se...
asked 1 hour ago -
Unexposed silver halides are removed from photographic film when
they react with sodium thiosulfate
(Na2S2O3, called...
asked 1 hour ago