Homework Answers
| YOUNG COMPANY | |||||
| Bank Reconciliation | |||||
| June 30 | |||||
| Balance per bank statement | 7300.25 | Balance per Cash account | 7039.80 | ||
| Add: Deposits in transit | 950.00 | Add: Error in recording check ($620 - $260) | 360.00 | ||
| Error by bank | 375.00 | 1325.00 | |||
| 8625.25 | 7399.80 | ||||
| Less: Outstanding checks | 1260.45 | Less: Service charge | 35.00 | ||
| Reconciled cash balance | 7364.80 | 7364.80 | |||
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Use the example in the 3rd picture! No handwritings Please!! LO5 E7-3A. Bank Reconciliation Use the...
E7-3A. Bank Reconciliation Use the following information to prepare a bank reconciliation for Fast Company at June 30:
E7-3A. Bank Reconciliation Use the following information to prepare a bank reconciliation for Fast Company at June 30: 1. Balance per Cash account, June 30, $7,015.40. 2. Balance per bank statement, June 30, $7,235.85. 3. Deposits not reflected on bank statement, $975. 4. Outstanding checks, June 30, S1,260.45. 5. Service charge on bank statement not recorded in books, $50. 6. Error by bank-Yertel Company check charged on Fast Company's bank statement, $375. 7. Check for advertising expense, $260, incorrectly recorded in books as $620.
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june 30 $9,172.54 Balance per Cash account, June 30. Balance per bank statement,June 30. Deposits not reflected on bank statement Outstanding checks, June 30. Service charge on bank statement not recorded in books Error by bank-Yertel Company check charged on oung Company's bank statement Check for advertising expense incorrectly recorded in books as 14.3 715 YOUNG COMPANY Bank Reconciliation June 30 0Balance from general ledger...
Question 5 Partially correct Mark 7.06 out of 10.00 P Flag question Bank Reconciliation Use the...
Question 5 Partially correct Mark 7.06 out of 10.00 P Flag question Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30: 59.172.54 9.490.33 942.50 1,638.59 1 Balance per Cash account, June 30. 2 Balance per bank statement, June 30 3 Deposits not reflected on bank statement 4 Outstanding checks, June 30. 5 Service charge on bank statement not recorded in books 6 Error by bank-Yertel Company check charged on Young Company's bank...
No handwritings ank Reconciliation Components Identify the requested amount in each of the following situations: LO5...
No handwritings
ank Reconciliation Components Identify the requested amount in each of the following situations: LO5 Munsing Company's May 31 bank reconciliation shows deposits in transit of $1,200. The gen eral ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation? Sandusky Company's August 31 bank reconciliation shows outstanding...
No handwritings please P4A. Bank Reconciliation On July 31, Sullivan Company's Cash in Bank account had...
No
handwritings please
P4A. Bank Reconciliation On July 31, Sullivan Company's Cash in Bank account had a balance of LOS Flynn the ac- journal ustomer e, credit S8,112.62. On that date, the bank statement indicated a balance of $9,098.55. A comparison of re- turned checks and bank advices revealed the following: 1. Deposits in transit July 31 amounted to $3,358.19. 2. Outstanding checks July 31 totaled $1,251.12 3. The bank erroneously charged a $215 check of Solomon Company against the...
Prepare a June bank reconciliation for Savvy Company Prepare the general journal entries to bring...
Prepare a June bank reconciliation for Savvy Company
Prepare the general journal entries to bring the company’s
book balance of cash onto conformity with the reconciles balance as
of June 30
12) The following information is avai lable for the Savvy Company for the month of June. ACHEo a. On June 30, after all transactions have been recorded, the balance in the company's Cash has a balance of $17,202. b. The company's bank statement shows a balance on June 30...
Beckett Co. received its bank statement for the month ending June 30, 2019. and reconciled the...
Beckett Co. received its bank statement for the month ending June 30, 2019. and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6.658. The reconciliation recognized the following items: 1. Deposits in transit were $3,426. 2. Outstanding checks totaled $2.744 3. Bank service charges shown as a deduction on the bank statement were $51. 4. An NSF check from a customer for $664 was included with the...
Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. The bank statement showed a...
Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. The bank statement showed a $4,000.27 balance. Melissa's checkbook showed a $4,064.22 balance. Melissa placed a $516.40 deposit in the bank's night depository on June 30, 2015. The deposit did not appear on the bank statement. The bank included two DMs and one CM with the returned checks: $716.85 DM for NSF check, $11.60 DM for service charges, and $453.20 CM (less $25.00 collection fee) for collecting a $453.20...
Shown below is the bank reconciliation for Marvelous Company for May 2019: Balance per bank, May...
Shown below is the bank reconciliation for Marvelous Company for May 2019: Balance per bank, May 31, 2019 P75,000 Add: Deposits in transit 12,000 Total 87,000 Less: Outstanding checks P14,000 Bank credit recorded in error 5,000 19,000 Cash balance per books, 5/31/19 P68,000 The bank statement for June 2019 contains the following data: Total deposits P55,000 Total charges, including an NSF check of P4,000 and a service charge of P200 48,000 All outstanding checks on May 31, 2019, including the...
Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the...
Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6,462. The reconciliation recognized the following items: Deposits in transit were $3,326. Outstanding checks totaled $2,634. Bank service charges shown as a deduction on the bank statement were $59. An NSF check from a customer for $618 was included with the bank statement. Beckett Co....
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june 30 $9,172.54 Balance per Cash account, June 30. Balance per bank statement,June 30. Deposits not reflected on bank statement Outstanding checks, June 30. Service charge on bank statement not recorded in books Error by bank-Yertel Company check charged on oung Company's bank statement Check for advertising expense incorrectly recorded in books as 14.3 715 YOUNG COMPANY Bank Reconciliation June 30 0Balance from general ledger...
Question 5 Partially correct Mark 7.06 out of 10.00 P Flag question Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30: 59.172.54 9.490.33 942.50 1,638.59 1 Balance per Cash account, June 30. 2 Balance per bank statement, June 30 3 Deposits not reflected on bank statement 4 Outstanding checks, June 30. 5 Service charge on bank statement not recorded in books 6 Error by bank-Yertel Company check charged on Young Company's bank...
No handwritings
ank Reconciliation Components Identify the requested amount in each of the following situations: LO5 Munsing Company's May 31 bank reconciliation shows deposits in transit of $1,200. The gen eral ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation? Sandusky Company's August 31 bank reconciliation shows outstanding...
No
handwritings please
P4A. Bank Reconciliation On July 31, Sullivan Company's Cash in Bank account had a balance of LOS Flynn the ac- journal ustomer e, credit S8,112.62. On that date, the bank statement indicated a balance of $9,098.55. A comparison of re- turned checks and bank advices revealed the following: 1. Deposits in transit July 31 amounted to $3,358.19. 2. Outstanding checks July 31 totaled $1,251.12 3. The bank erroneously charged a $215 check of Solomon Company against the...
Prepare a June bank reconciliation for Savvy Company
Prepare the general journal entries to bring the company’s
book balance of cash onto conformity with the reconciles balance as
of June 30
12) The following information is avai lable for the Savvy Company for the month of June. ACHEo a. On June 30, after all transactions have been recorded, the balance in the company's Cash has a balance of $17,202. b. The company's bank statement shows a balance on June 30...
Beckett Co. received its bank statement for the month ending June 30, 2019. and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6.658. The reconciliation recognized the following items: 1. Deposits in transit were $3,426. 2. Outstanding checks totaled $2.744 3. Bank service charges shown as a deduction on the bank statement were $51. 4. An NSF check from a customer for $664 was included with the...
Melissa Jackson, bookkeeper for Kinko Company, cannot prepare a bank reconciliation. The bank statement showed a $4,000.27 balance. Melissa's checkbook showed a $4,064.22 balance. Melissa placed a $516.40 deposit in the bank's night depository on June 30, 2015. The deposit did not appear on the bank statement. The bank included two DMs and one CM with the returned checks: $716.85 DM for NSF check, $11.60 DM for service charges, and $453.20 CM (less $25.00 collection fee) for collecting a $453.20...
Shown below is the bank reconciliation for Marvelous Company for May 2019: Balance per bank, May 31, 2019 P75,000 Add: Deposits in transit 12,000 Total 87,000 Less: Outstanding checks P14,000 Bank credit recorded in error 5,000 19,000 Cash balance per books, 5/31/19 P68,000 The bank statement for June 2019 contains the following data: Total deposits P55,000 Total charges, including an NSF check of P4,000 and a service charge of P200 48,000 All outstanding checks on May 31, 2019, including the...
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