2. On June 4, Marie Company had cash sales rung up by cashiers totaling $119,000Cash in the drawer was counted and found to be $123,000The journal entry to record the sales for June 4, would include a 3. Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $ 19,700The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,100outstanding checks of $3,200, an NSF check of $1,900, bank service charges of $90 and the EFT from customer in payment of the customer's account of \ $2.700. What is the up-to-date ending Cash balance?

2. On June 4, Marie Company had cash sales rung up by cashiers totaling $119,000Cash in the drawer was counted and found to be $123,000The journal entry to record the sales for June 4, would include a 3. Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $ 19,700The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,100outstanding checks of $3,200, an NSF check of $1,900, bank service charges of $90 and the EFT from customer in payment of the customer's account of \ $2.700. What is the up-to-date ending Cash balance?

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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Using the following information: The bank statement balance is $5,175. The cash account balance is $5,503. Outstanding checks amounted to $712. Deposits in transit are $998. The bank service charge is $33. A check for $76 for supplies was recorded as $67 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
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The bank statement for M Company indicates a balance of $830 on July 31. The cash balance per books had a balance of $390 on this date. The following information pertains to the bank transactions for the company. 1. Deposit of $840, representing cash receipts of July 31, did not appear on the bank statement. 2. Outstanding checks totaled $390. 3. Bank service charges for July amounted to $30. 4. The bank collected a note receivable for the company for $1,200 plus $48 interest revenue. 5. A NSF check for $328 from a customer was returned with the statement How we should reconcile item #4 Add to the book balance Deduct from book balance Add to the bank balance Deduct from bank balance
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