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Question 5 0/0.5 pts What is the desired opinion of an Audit? Disclaimer • Qualified Opinion...
Partial Question 8 2.75/3 pts You receive a bank statement that shows a cash balance of...
Partial Question 8 2.75/3 pts You receive a bank statement that shows a cash balance of $66,744. However, company records show a $71,948 cash balance. The statement shows the following items that the company has not recorded: $2,700 in customer deposits from a lock box and a $224 bank service fee. The company made a $12,240 deposit at the end of the month that the bank does not show. You also note that $4,560 in company checks have not been...
You receive a bank statement that shows a cash balance of $66,744. However, company records show...
You receive a bank statement that shows a cash balance of $66,744. However, company records show a $71,948 cash balance. The statement shows the following items that the company has not recorded: $2,700 in customer deposits from a lock! box and a $224 bank service fee. The company made a $12,240 deposit at the end of the month that the bank does not show. You also note that $4,560 in company checks have not been cashed yet. Create a Bank...
MP Tab 10D *04 (attempti X G rotational slump - Google x G What characterizes 'blind...
MP Tab 10D *04 (attempti X G rotational slump - Google x G What characterizes 'blind x Course Here zes/278618 Question 8 0 1 3 pts me M You receive a bank statement that shows a cash balance of $66,744. However, company records show a $71,948 cash balance. The statement shows the following items that the company has not recorded: $2,700 in customer deposits from a lock box and a $224 bank service fee. The company made a $12,240 deposit...
BE4-8 Indicate whether the firm should add or subtract each item below from its balance of...
BE4-8 Indicate whether the firm should add or subtract each item below from its balance of cash or the bank's balance of cash in preparing a bank reconciliation. The first answer is provided as an example. If an item is not a reconciling item, state “No entry.” Bank Balance Subtract Company Balance No entry Reconciliation Items 1. Checks outstanding 2. NSF checks 3. Deposit recorded twice by company 4. Interest earned 5. Deposits outstanding 6. Bank service fees
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Bank ReconciliationThe following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6:Cash balance according to the company's records at August 31, $16,290.Cash balance according to the bank statement at August 31, $17,260.Checks outstanding, $3,310.Deposit in transit, not recorded by bank, $2,660.A check for $480 in payment of an account was erroneously recorded in the check register as $840.Bank debit memo for service charges, $40.a. Prepare a bank reconciliation, using the format shown in Exhibit 13.Creative Design...
070.5 pts An example of a reconciling item that would be subtracted from the Company's side...
070.5 pts An example of a reconciling item that would be subtracted from the Company's side of the bank reconciliation: • Bank Collections Interest Earned Outstanding checks Bank Service Fees
Using the following information, prepare a bank reconciliation for Crane Company for July 31, 2022. a. The bank stat...
Using the following information, prepare a bank reconciliation
for Crane Company for July 31, 2022.
a.
The bank statement balance is
$3,510.
b.
The cash account balance is
$4,050.
c.
Outstanding checks totaled
$1,240.
d.
Deposits in transit are
$1,690.
e.
The bank service charge is
$81.
f.
A check for $76 for supplies
was recorded as $67 in the ledger.
Crane Company
Bank Reconciliation
For
the Month Ended July 31, 2022July 31, 2022For the Year Ended July
31, 2022...
Using the following information, prepare a bank reconciliation for Ivanhoe Company for July 31, 2022. a. The bank st...
Using the following information, prepare a bank reconciliation
for Ivanhoe Company for July 31, 2022.
a.
The bank statement balance is $3,760.
b.
The cash account balance is $4,200.
c.
Outstanding checks totaled $1,450.
d.
Deposits in transit are $1,780.
e.
The bank service charge is $83.
f.
A check for $85 for supplies was recorded as $58 in the
ledger.
Ivanhoe Company
Bank Reconciliation
For
the Year Ended July 31, 2022For the Month Ended July 31, 2022July
31, 2022...
The following data were accumulated for use in reconciling the bank account of Creative Design Co....
The following data were accumulated for use in reconciling the
bank account of Creative Design Co. for August 20Y6:
Cash balance according to the company's records at August 31,
$22,350.
Cash balance according to the bank statement at August 31,
$23,570.
Checks outstanding, $4,540.
Deposit in transit, not recorded by bank, $3,640.
A check for $590 in payment of an account was erroneously
recorded in the check register as $950.
Bank debit memo for service charges, $40.
a. Prepare a...
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...
Partial Question 8 2.75/3 pts You receive a bank statement that shows a cash balance of $66,744. However, company records show a $71,948 cash balance. The statement shows the following items that the company has not recorded: $2,700 in customer deposits from a lock box and a $224 bank service fee. The company made a $12,240 deposit at the end of the month that the bank does not show. You also note that $4,560 in company checks have not been...
You receive a bank statement that shows a cash balance of $66,744. However, company records show a $71,948 cash balance. The statement shows the following items that the company has not recorded: $2,700 in customer deposits from a lock! box and a $224 bank service fee. The company made a $12,240 deposit at the end of the month that the bank does not show. You also note that $4,560 in company checks have not been cashed yet. Create a Bank...
MP Tab 10D *04 (attempti X G rotational slump - Google x G What characterizes 'blind x Course Here zes/278618 Question 8 0 1 3 pts me M You receive a bank statement that shows a cash balance of $66,744. However, company records show a $71,948 cash balance. The statement shows the following items that the company has not recorded: $2,700 in customer deposits from a lock box and a $224 bank service fee. The company made a $12,240 deposit...
BE4-8 Indicate whether the firm should add or subtract each item below from its balance of cash or the bank's balance of cash in preparing a bank reconciliation. The first answer is provided as an example. If an item is not a reconciling item, state “No entry.” Bank Balance Subtract Company Balance No entry Reconciliation Items 1. Checks outstanding 2. NSF checks 3. Deposit recorded twice by company 4. Interest earned 5. Deposits outstanding 6. Bank service fees
070.5 pts An example of a reconciling item that would be subtracted from the Company's side of the bank reconciliation: • Bank Collections Interest Earned Outstanding checks Bank Service Fees
Using the following information, prepare a bank reconciliation
for Crane Company for July 31, 2022.
a.
The bank statement balance is
$3,510.
b.
The cash account balance is
$4,050.
c.
Outstanding checks totaled
$1,240.
d.
Deposits in transit are
$1,690.
e.
The bank service charge is
$81.
f.
A check for $76 for supplies
was recorded as $67 in the ledger.
Crane Company
Bank Reconciliation
For
the Month Ended July 31, 2022July 31, 2022For the Year Ended July
31, 2022...
Using the following information, prepare a bank reconciliation
for Ivanhoe Company for July 31, 2022.
a.
The bank statement balance is $3,760.
b.
The cash account balance is $4,200.
c.
Outstanding checks totaled $1,450.
d.
Deposits in transit are $1,780.
e.
The bank service charge is $83.
f.
A check for $85 for supplies was recorded as $58 in the
ledger.
Ivanhoe Company
Bank Reconciliation
For
the Year Ended July 31, 2022For the Month Ended July 31, 2022July
31, 2022...
The following data were accumulated for use in reconciling the
bank account of Creative Design Co. for August 20Y6:
Cash balance according to the company's records at August 31,
$22,350.
Cash balance according to the bank statement at August 31,
$23,570.
Checks outstanding, $4,540.
Deposit in transit, not recorded by bank, $3,640.
A check for $590 in payment of an account was erroneously
recorded in the check register as $950.
Bank debit memo for service charges, $40.
a. Prepare a...
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...
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