Prepare the bank reconciliation at October
31. (List items that increase balance as per bank &
books first.)
Homework Answers
| Wildhorse Holdings Ltd. | ||
| Bank Reconciliation | ||
| October 31 | ||
| Bank balance | 18,884 | |
| Add: Deposit in transit | 5,970 | |
| 24,854 | ||
| Less: Outstanding checks | -2,630 | |
| Adjusted Bank Balance | $22,224 | |
| Book balance | 19,860 | |
| Add:Collection of note receivable | 2,900 | |
| interest earned | 261 | |
| 3,161 | ||
| 23,021 | ||
| Less: NSF Check | -610 | |
| Correction of Bank error | -180 | |
| Bank service charge | -7 | |
| -797 | ||
| Adjusted Book Balance | $22,224 | |
Journal
| Date | Account Titles and Explanation | Debit | Credit |
| October 31 | Cash | $3,161 | |
| Note receivable | $2,900 | ||
| Interest receivable | $261 | ||
| ( To record EFT Collection) | |||
| October 31 | Accounts receivable | $610 | |
| Cash | $610 | ||
| ( To record account receivable) | |||
| October 31 | Utilities expense | $180 | |
| Cash | $180 | ||
| ( To record adjust cheque #3421) | |||
| October 31 | Bank service charge | $7 | |
| Cash | $7 | ||
| ( To record bank service charge) |
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Add Answer to:
Prepare the bank reconciliation at October
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prepare a bank reconciliation as of October 31 from the above
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1.
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Hi, Can you help me doing the bank reconciliation from bank balance statement and book balance statement? Please explai...
Hi,
Can you help me doing the bank reconciliation from bank
balance statement and book balance statement?
Please explain why 11,352 is not included in the bank
reconciliation? I checked the answer key but they didn't include
that number.
Thanks
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prepare a bank reconciliation as of October 31 from the above
information
Refer to the information given below a. The October 31 cash balance in the general ledger is $836. b. The October 31 balance shown on the bank statement is $335 c. Checks issued but not returned with the bank statement were No. 462 for $14 and No. 483 for $43 d. A deposit made late on October 31 for $472 is included in the general ledger balance but...
J. Fepare a October 31, 2020, and prepare the necessary entries. QS 7-11 Bank reconciliation LO6 countant has been asked to prepare the bank reconciliation for Ultimate Discs (UD), a store that sells frisbees. You log in to the online bank statement and note that the bank balance is $66,362 as at March 31, 2020. The amount of cash recorded in the accounting records (the books) is $64,800. • You go through the online bank statement and notice an electronic...
Question 3 - Bank Reconciliation (15 marks) Jane Pandu received her bank statement for the month ended 31 December 2015 on January 2016. The bank statement showed a balance of N$11 788 (overdraft) as at 31 December 2015 while the cash book (bank account) showed a negative balance of N$ 20 770 (credit) as at the date. On examination of the cash book and the bank statement the following were discovered 1) A dishonored cheque of N$ 770 had been...
AP6-2B (Preparation of bank reconciliation) Catalina Holdings Ltd. (CHL), a Calgary-based property management company, is owned by Leslie Smeal. Leslie received the monthly statement for the company, which showed a balance of S26,936.89 at October 31, 2020. She is trying to prepare a bank reconciliation for CHL's bank account. The balance in the Cash account in the company's accounting system at that date was $21,260.16. Leslie reviewed the bank statement and the company's accounting records and noted the following 1....
Please explain in detail why f is not included in the Bank
reconciliation? I think it has to be deducted from the Cash Account
as it was our's bookkeeper error?
AP6-4 (Placement of items on bank reconciliation) You are preparing the bank reconciliation for your company, Hanneson Holdings Ltd., as at October 31 Required: Indicate whether each of the following items would be added to the bank balance, deducted from the bank bal- ance, added to the cash account balance...
Prepare a bank reconciliation at August 31. (List items that increase balance as per bank & books first.) SAGE HILL INC. Bank Reconciliation Announcements CALCULATOR PRINTER VERSION Question 2 Sage Hill Inc.'s bank statement from Main Street Bank at August 31, 2017. gives the following information Balance, Augusti $18,635 Bank debit memorandum: August deposits 71,235 Safety deposit box fee $ 40 Checks deared in August 68,663 Service charge Bank credit memorandum: Balance, August 31 21,162 Interest earned A summary of...
On March 31, Blue Spruce Corporation showed a cash balance on
their books of $12,600. The bank statement from the company’s bank
showed a month end balance of $16,791. On reviewing the bank
statement, the following items were discovered:
1.
A deposit made on March 29 for $3,850 did not appear on the
bank statement.
2.
Cheques written in the month of March but that did not appear
on the bank statement were as follows:
Cheque # 6341
$4,410
Cheque...
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,436. The company's cash receipts for the month total $74,580, of which $71,360 has been deposited in the bank. In addition, the company has written checks for $72,506, of which $71,216 has been processed by the bank The bank statement reveals an ending balance of $12,676 and includes the following items not yet recorded by Damon: bank service fees of $280, note receivable collected by the...
Hi,
Can you help me doing the bank reconciliation from bank
balance statement and book balance statement?
Please explain why 11,352 is not included in the bank
reconciliation? I checked the answer key but they didn't include
that number.
Thanks
AP6-2 (Preparation of bank reconciliation) Infinity Emporium Company received the monthly statement for its bank account, showing a balance of $66,744 on August 31. The balance in the Cash account in the company's accounting system at that date was $71,952....
On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8.439. The company's cash receipts for the month total $74,600, of which $71,365 has been deposited in the bank. In addition, the company has written checks for $72,509, of which $71,234 has been processed by the bank. The bank statement reveals an ending balance of $12,749 and includes the following items not yet recorded by Damon: bank service fees of $290, note receivable collected by the...
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