00 OT HROW Egad Company provided the following information for October and November: Checks and charges recorded by Bank in November Including a November service charge of P8,000 and And NSF check of P40,000 1,100,000 Service Charge made by bank in October and recorded by Depositor in November Total credits to cash in all journals during November Customer NSF check returned in October and redeposited 4,000 1,240,000 In November (no entry made by depositor in either October Or November 80,000 Outstanding checks on October 31 that cleared in November 560,000 27. How much are the checks paid by bank in November? 28. What is the amount of outstanding checks on November 30?

00 OT HROW Egad Company provided the following information for October and November: Checks and charges recorded by Bank in November Including a November service charge of P8,000 and And NSF check of P40,000 1,100,000 Service Charge made by bank in October and recorded by Depositor in November Total credits to cash in all journals during November Customer NSF check returned in October and redeposited 4,000 1,240,000 In November (no entry made by depositor in either October Or November 80,000 Outstanding checks on October 31 that cleared in November 560,000 27. How much are the checks paid by bank in November? 28. What is the amount of outstanding checks on November 30?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $5.750. The bank reconciliation for the month contained the following items: Deposits in transit Outstanding checks Interest earned NSF check returned to bank Bank service charge Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice $4,980. O $5,300. $ 770 495 20 120 20 $5,630.
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Brown Company's bank statement for September 30 showed: Bank statement balance Book balance of cash $2,790 $3,724 The following information was also available as of September 30: a. A customer's check for $150 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $10 processing fee b. The September 30 cash receipts, $3,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the Septemt bank statement. c. Outstanding checks amounted to $2, 190. d. A check for rent expense was written for $326 but by mistake was recorded in the accounting records as $362.
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Blue Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation Balance per bank $37,800 Add: Deposits in transit 8,316 Deduct: Outstanding checks (10,800 ) Balance per books $35,316 Month of July Results Per Bank Per Books Balance July 31 $46,710 $49,950 July deposits 27,000 31,374 July checks 21,600 16,740 July note collected (not included in July deposits) 5,400 July bank service charge 81 July NSF check from a customer, returned by the bank (recorded by bank as a charge) 1,809 Prepare a bank reconciliation going from the balance per bank and balance per book to correct cash balance.