23-18 (OBJECTIVE 23-3) The Cairo Wheat Supply Company, a client of yours, informs you that they...
23-19 (Objective 23-3) You are auditing general cash for the Pittsburgh Supply Company for the fiscal year ended July 31, 2016. The client has not prepared the July 31 bank reconciliation. After a brief discussion with the owner, you agree to prepare the reconciliation, with assistance from one of Pittsburgh Supply's clerks. You obtain the following information: General Ledger Bank Statement Beginning balance 7/1/16 $ 6,400 $ 8,378 Deposits 25,474 Cash receipts journal 26,874 Checks cleared (25,307) Cash disbursements journal...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: Balance per bank, November 30 $ 3,241 Add: Deposits outstanding 1,210 Less: Checks outstanding #363 $ 124 #365 202 #380 57 #381 87 #382 350 (820 ) Adjusted balance per bank, November 30 $ 3,631 The company’s general ledger checking account showed the following for December: Balance,...
You have been asked by Simmons Company to reconcile the cash account balance of $34,754 at 12/31/19. You have obtained the following information: • The 12/31/19 bank statement shows a beginning balance of $38,783, receipts of $229,832, disbursements of $226,625, and an ending balance of $41,990. • There were deposits of $11,450 on 11/30/19 that did not reach the bank until December. On 12/31/19, deposits of $10,900 were mailed to the bank. • The list of outstanding...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,241 1,210 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $ 124 202 57 87 350 (820) $3,631 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts...
23-20 (Objectives 23-3, 23-4) The following are misstatements that might be found in the client’s year-end cash balance (assume that the balance sheet date is June 30): 1. The outstanding checks on the June 30 bank reconciliation were underfooted by $2,000. 2. A loan from the bank on June 26 was credited directly to the client’s bank account. The loan was not entered as of June 30. 3. A check was omitted from the outstanding check list on the June...
23-20 (Objectives 23-3, 23-4) The following are misstatements that might be found in the client’s year-end cash balance (assume that the balance sheet date is June 30): 1. The outstanding checks on the June 30 bank reconciliation were underfooted by $2,000. 2. A loan from the bank on June 26 was credited directly to the client’s bank account. The loan was not entered as of June 30. 3. A check was omitted from the outstanding check list on the June...
23-20 (Objectives 23-3, 23-4) The following are misstatements that might be found in the client’s year-end cash balance (assume that the balance sheet date is June 30): 1. The outstanding checks on the June 30 bank reconciliation were underfooted by $2,000. 2. A loan from the bank on June 26 was credited directly to the client’s bank account. The loan was not entered as of June 30. 3. A check was omitted from the outstanding check list on the June...
El Gato Painting Company maintains a checking account at American Bank, Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,231 1,200 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $123 201 56 86 340 (806) $3,625 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,331 1,300 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $ 133 211 96 440 (946) $3,685 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2016, reconciliation of the bank balance is as follows: Balance per bank, November 30 $3,231 Add: Deposits outstanding 1,200 Less: Checks outstanding #363 $123 #365 201 #380 56 #381 86 #382 340 (806) Adjusted balance per bank, November 30 $3,625 The company's general ledger checking account showed the following for December: Balance, December 1 $ 3,625...