Bauer Company | ||
Bank Reconciliation Statement | ||
December 31, 2018 | ||
Balance as per bank statement | $ 46,821 | |
Add: Deposit in transit | $ 9,583 | |
$ 56,404 | ||
Deduct: outstanding checks | ||
Check # 1273 | $ 4,589 | |
Check # 1282 | $ 400 | |
Check # 1242 | $ 410 | $ 5,399 |
Adjusted cash balance | $ 51,005 | |
Balance as per books of account | $ 32,878 | |
Add: | ||
Collection of Note by Bank (19000-20) | $ 18,980 | |
Error in check # 1267 (3465-3456) | $ 9 | $ 18,989 |
$ 51,867 | ||
Deduct: | ||
NSF Check (745+18) | $ 763 | |
Bank charges | $ 99 | |
$ 862 | ||
Adjusted cash balance | $ 51,005 |
Bauer Company | |||
Journal entries | |||
Date | Account title & explanation | Debit | Credit |
Dec 31, 2018 | Cash | 18,980 | |
Bank Collection Charges | 20 | ||
Notes receivable | 19,000 | ||
(To Notes receivable collected by bank.) | |||
Dec 31, 2018 | Cash | 9 | |
Office Supplies | 9 | ||
(To Correct the amount of check # 1267.) | |||
Dec 31, 2018 | Account receivable | 763 | |
Cash | 763 | ||
(To record non-sufficient funds check.) | |||
Dec 31, 2018 | Bank charges | 99 | |
Cash | 99 | ||
(To record Bank charges.) |
(20 PTS) PART 5: Bank Reconciliation The following information is available to reconcile Bauer Co.'s book...
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The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017. a. On July 31, the company's Cash account has a $25,756 debit balance, but its July bank statement shows a $26774 cash balance. b. Check No. 3031 for $1,000 and Check No. 3040 for $492 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is...
The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2017.On July 31, the company’s Cash account has a $24,750 debit balance, but its July bank statement shows a $27,341 cash balance.Check No. 3031 for $1,620 and Check No. 3040 for $802 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also,...
The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2017.On July 31, the company’s Cash account has a $25,642 debit balance, but its July bank statement shows a $27,613 cash balance.Check No. 3031 for $1,380 and Check No. 3040 for $682 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also,...