Quiz 16

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N3. Account

Please answer letter B

What I can Do Activity 3.4 Reconcile Me 1. The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2015. On this date the balance of cash per books is P11,589.45. Additional information is provided below: Deposits in transit: April 30 deposit (received by the bank on viay 1) P2,201.40 Outstanding checks: No. 453-P3,000.00 No. 457-P1,401.30 No. 460-P1,502.70 Errors: Juan wrote check no. 443 for P1,226.00 and the bank correctly paid that amount. However, he recorded the check as P1,262.00. Bank memoranda: Debit- NSF check from Pedro P425.60 Debit- Charge for printing company checks P30.00 Credit - Collection of note receivable for P1,000 pius interest earned of P50, less bank collection fee of P15.00. Required: Prepare a bank reconciliation statement using the adjusted method. Hint: Bank Debit Memo are deductions made by the bank to the account of the depositor Bank Credit Memo are additions made by the bank to the account of the aepositor. 2. The company…

question 17 choose the correct answer from the choices

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QUESTION 1 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 1. The Cash Book showed a credit balance of R5 956 while the bank statement reflected a favourable balance of R4 794 on Balance per Cash Book R6 500 credit 31 October 20.19. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the Credit balance of R5 965 will be shown as follows: Credit side of Bank account as R5 956 Will not be shown in the Bank account or Bank reconciliation Debit side of Bank account as R5 956 Debit column of Bank reconciliation as R5 956 Credit column of Bank Reconciliation as R5 956

EB8.  LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.7.(Previous question)   LO 8.6Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 Bank charges: $35 Notes receivable: $1,325; interest: $235

Which of the following item, have been recorded on the company's books but not yet by the bank: ered f1.00 Select one: stion a. Cash per bank b. Outstanding checks c. Cash per book d. Deposits in transit

Question 3 of 4 > -/2 View Policies Current Attempt in Progress Ouellette Ltée reports the following items: cash in bank $17,500; payroll bank account $6,000; cash register floats $500; and trading investments consisting of term deposits with maturity dates of less than 90 days $5,000. Determine which items described above would be considered cash, cash equivalents, or other items to be reported on the statement of financial position. Cash in bank Payroll bank account Cash register floats Trading investments eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

Q1- A. What is a bank reconciliation and why is it important for companies to do it periodically? B. Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of SR10,000. Cash account of SR7,500. Additional information for the reconciliation: Deposit in transit. NSF Check. Outstanding check. Collections made by the bank. Required: provide an amount of each information to bring the adjusted balances to be equal.

! Required information Problem 8-4A (Algo) Preparing a bank reconciliation and recording entries LO P3 [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,117 debit balance, but its July bank statement shows a $27,000 cash balance. b. Check Number 3031 for $1,320, Check Number 3065 for $436, and Check Number 3069 for $2,088 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,240 but was erroneously entered in the accounting records as $1,230. d. The July bank statement shows the bank collected $9,000 cash on a note for Branch. Branch had not recorded this me Bank Stat event before receiving the statement. www e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw.…

P4.4B The August 31 bank statement of Palm Harbor Apartments has just arrived from Florida First Bank To prepare the Palm Harbor bank reconciliation, your gather the following data: a Palm Harbor's Cash account shows a balance of $3,366.14 on August 31 b. The August 31 bank balance is $4,484 22 E The bank statement shows that Palm Harbor earned $38 19 of interest on its bank bal- ance during August. This amount was added to Palm Harbors bank balance d. Palm Harbor pays utilities ($750) and insurance ($290) by EFT e. The following Palm Harbor checks did not clear the bank by August 31 Check No. Amount 237 $ 46.10 288 141 00 291 293 578.05 11.87 609 51 294 8.88 295 296 101 63 * The bank statement includes a deposit of $891.17, collected by the bank on behalf of Paim Harbor Apartments Of the total, $811 81 is collection of a note receivable, and the remainder is interest revenue. * The bank statement lists a $10.50 bank service charge OAugust 31, the Palm Harbor treasurer deposited…

EA5-E3 Complete a Bank Reconciliation for Pond Maintenance Corp. In this exercise, you will complete a bank reconciliation as of 12/31/2016 for Pond Maintenance Corp. One of your primary goals is to ensure that the file can be easily under- stood by the end user. Use this information to populate the reconciliation: Deposits in Transit: $10,100 and $1,000 • NSF Check: $7,150 Notes Receivable: $7,000 Outstanding Checks: $3,100 and $600 Bank Charges: $1,100 The bank erroneously deposited a $250 check written to TreeSky Industries into the bank account of Pond Maintenance Corp. The bank statement reflects a 12/31/16 balance of $94,200, while the company's general ledger reflects a 12/31/16 cash balance of $102,600. Modify the appearance of the reconciliation using Format Painter and Quick Styles. Set a conditional formatting rule that will highlight the bank balance if it exceeds $90,000. Apply a header that displays the filename and file path and a footer that displays the current time.…