Homework Help is Here – Start Your Trial Now!
Business
Accounting
2. Bedlam Company provided the following data for the month of December: November 30 December 31 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits Book credits 2,032,000 1,890,000 3,160,000 2,900,000 1,080,000 ? ? Outstanding checks Deposit in transit 1,440,000 180,000 80,000 592,000 498,000 18 | Pa SAINT COLUMBAN COLLE Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City Tel Nos: 2151799 /2151800 | Fax No: 2141290 | Website: www.sccpag.edu ph | E-mail sccpc1957@gmail Check erroneously charged by bank against entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by entity when placed with bank for collection (note is actually collected by bank in subsequent month and credited by bank to entity's account in same month) 40,000 2,000 50,000 4,000 200,000 300,000 quired: Prepare a four-column reconciliation showing adjusted balances.

2. Bedlam Company provided the following data for the month of December: November 30 December 31 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits Book credits 2,032,000 1,890,000 3,160,000 2,900,000 1,080,000 ? ? Outstanding checks Deposit in transit 1,440,000 180,000 80,000 592,000 498,000 18 | Pa SAINT COLUMBAN COLLE Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City Tel Nos: 2151799 /2151800 | Fax No: 2141290 | Website: www.sccpag.edu ph | E-mail sccpc1957@gmail Check erroneously charged by bank against entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by entity when placed with bank for collection (note is actually collected by bank in subsequent month and credited by bank to entity's account in same month) 40,000 2,000 50,000 4,000 200,000 300,000 quired: Prepare a four-column reconciliation showing adjusted balances.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Proof of Cash

2. Bedlam Company provided the following data for the month of December: November 30 2,032,000 1,890,000 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits Book credits December 31 3,160,000 2,900,000 1,080,000 ? ? Outstanding checks Deposit in transit 1,440,000 180,000 80,000 592,000 498,000 18 | P age SAINT COLUMBAN COLLEG Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City Tel Nos: 2151799/2151800 | Fax No: 2141290 | Website: www.sccpag.edu.ph | E-mail: sccpc1957@gmail.com Check erroneously charged by bank against entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by entity when placed with bank for collection (note is actually collected by bank in subsequent month and credited by bank to entity's account in same month) 40,000 2,000 50,000 4,000 200,000 300,000 Required: Prepare a four-column reconciliation showing adjusted balances.
Transcribed Image Text:2. Bedlam Company provided the following data for the month of December: November 30 2,032,000 1,890,000 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits Book credits December 31 3,160,000 2,900,000 1,080,000 ? ? Outstanding checks Deposit in transit 1,440,000 180,000 80,000 592,000 498,000 18 | P age SAINT COLUMBAN COLLEG Corner V. Cerilles - Sagun Streets, San Francisco District, Pagadian City Tel Nos: 2151799/2151800 | Fax No: 2141290 | Website: www.sccpag.edu.ph | E-mail: sccpc1957@gmail.com Check erroneously charged by bank against entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by entity when placed with bank for collection (note is actually collected by bank in subsequent month and credited by bank to entity's account in same month) 40,000 2,000 50,000 4,000 200,000 300,000 Required: Prepare a four-column reconciliation showing adjusted balances.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Administration and Procedures
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS