22.) The following information was included in the bank reconciliation forBayside Company for October and November 2013:Checks and charges recorded by bank in November,including a November service charge of P4,000and NSF check of P20,000550,000Service charge made by bank in October andrecorded by depositor in November2,000Total credits to cash in all journals during November620,000Customer's NSF check returned in October andredeposited in November (no entry made bydepositor in either October or November)40,000Outstanding checks on October 31,2013 thatcleared in November230,000What is the amount of outstanding checks on November 30,2013?a282.000b. 300,000c. 322,000d. 302,00023 Tam Companu providing the hank roconciliation on May31

Outstanding check: Check that has been written but has not been cashed-deposited by the bank.

22.) The following information was included in the bank reconciliation for Bayside Company for October and November 2013: Checks and charges recorded by bank in November, including a November service charge of P4,000 and NSF check of P20,000 550,000 Service charge made by bank in October and recorded by depositor in November 2,000 Total credits to cash in all jounals during November 620,000 Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 40,000 Outstanding checks on October 31,2013 that cleared in November 230,000 What is the amount of outstanding checks on November 30,2013? a. 282,000 b. 300,000 c. 322,000 d. 302,000

22.) The following information was included in the bank reconciliation for Bayside Company for October and November 2013: Checks and charges recorded by bank in November, including a November service charge of P4,000 and NSF check of P20,000 550,000 Service charge made by bank in October and recorded by depositor in November 2,000 Total credits to cash in all jounals during November 620,000 Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 40,000 Outstanding checks on October 31,2013 that cleared in November 230,000 What is the amount of outstanding checks on November 30,2013? a. 282,000 b. 300,000 c. 322,000 d. 302,000

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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The following information relates to Oriole Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $19,590. During the month of July, Oriole recorded cash receipts of $21,400 and cash payments of $24,300 in the general ledger Cash account. An examination of the company's July bank statement shows a balance of $19,630 on July 31; outstanding cheques $4,000; deposits in transit $1,820; EFT collections on account that were not yet recorded on the books $2,192; NSF cheque $1,248; NSF fee $72; and bank service charges $112. Determine the cash balance per Oriole Limited's books. Cash balance Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) Add Cash balance per bank Bank service charge Reconciled cash balance per bank Deposits in transit NSF cheque and fee Outstanding cheques EFT collections on account Oriole Limited Bank Reconciliation July 31 $
Complete a Bank Reconciliation for the following: On March 31st the checkbook balance of Dust Bunnies Cleaning Co. was $2,568. The bank statement was $3,254.50. Checks outstanding were $2,788. The statement revealed a deposit in transit of $2,125 as well as a bank service charge of $11.50. The company earned interest income of $35.00. Complete a bank reconciliation for Dust Bunnies Cleaning Co.
Singleako Company has the following data for the Month of December. November 30 December 31 Cash in bank Account Statement 2,032,000 3,160,000 Bank Statement 1,890,000 2,900,000 Bank Debits 1,080,000 Bank Credits ? Book Debits ? Book Credits 1,440,000 Outstanding Checks Deposit in Transit Check erroneously charged by the bank against Entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by the entity when Placed with bank for collection 180,000 592,000 80,000 498,000 40,000 50,000 2,000 4,000 (Note is actually collected by the bank in subsequent Month and credited by bank to entity's account in same Month) 200,000 300,000 Required: Prepare four-column reconciliation showing the adjusted balances. Prepare adjusting entry/ies.
An examination of the records of St. Isidore Company's for the month of December included the following information: Bank statement December 31 balance 1,500,000 Bank service charge for December Interest paid by bank to St. Isidore Company for December Check issued to a supplier withdrawn from the bank at P35,000 but recorded as P53,000 for a difference of 10,000 15,000 18,000 Deposits made but not yet recorded by the bank Deposit of San Isidro credited by the bank to St. Isidore's account Checks written and mailed but not yet recorded by the bank 150,000 40,000 350,000 Petty cash fund 10,000 What is the cash in bank balance per ledger on December 31? A. 1,237,000 B. 1,260,000 C. 1,273,000 D. 1,500,000
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Beta corp was preparing a bank reconciliation statement as of September 30, 2018. The following were identified: Book balance =$32,800, Deposit in Transit = $4,300 Outstanding checks = $2,200 ,Interest earned on checking account =$100 Customer NSF check returned by bank =$400 Find adjusted cash balance as at September 30, 2018?
At November 30, One Day Cleaners has available the following data concerning its bank checking account: PROBLEM 7A-2 Preparing a Bank Reconcil- 1 At November 30, cash per the bank statement was $37,758; per the accounting records, $42,500. lation 2 The cash receipts of $6,244 on November 30 were deposited on December 1. 3 Included on the bank statement was a credit for $167 interest earned on this checking account during November. 4 Two checks were outstanding at November 30: no. 921 for $964 and no. 925 for $1,085. 5 Enclosed with the bank statement were two debit memoranda for the following items: service charge for November, $14; and a $700 check of customer Tanya Miller, marked "NSF." INSTRUCTIONS a Prepare a bank reconciliation at November 30. b Prepare adjusting entries (in general journal form) based on the bank reconcili- ation.
What is the amount of cash receipts per book in December? Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add: Deposit in Transit Less: Outstanding checks Bank credit recorded in error Balance per book, November 30 1,200,000 200,000 Data per bank statement for the month of December follow: December deposits, including note collected of 1,000,000 for Chris December disbursements, including NSF customer check 350,000 & service charge 50,000 3,600,000 800,000 4,400,000 1,400,000 3,000,000 5,500,000 4,400,000 1 point All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to 500,000 were outstanding and deposits of 700,000 were in transit on December 31.
Sweden Company provided the following information for the month of December: Balance per bank statement December 31 P1,250,900 Bank service charge for December 5,000 Collection made by the bank in behalf of the entity 25,800 Deposit in transit 575,200 Checks written but not yet recorded by the bank 512,300 The entity discovered that it had drawn and erroneously recorded a check for P123,600 that should have been recorded for P153,600. How much is the cash balance per ledger on December 31, 2021?
Flower company was preparing a bank reconciliation statement as of September 30, 2018. The following were identified: Flower company book balance =$32,800 Deposit in Transit = $4,300 Outstanding checks = $2,200 Interest earned on checking account =$100 Customer NSF check returned by bank =$400 The adjusted cash balance as at September 30, 2018 will be:
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Mazaya Company gathered the following reconciling information in preparing its November bank reconciliation: Cash balance per books (11/30) R.O.4,400; Deposits in transit R.O. 60o; Notes receivable and interest collected by bank R.O.1,400; Bank charge for check printing