3.Richardson Inc. had the following bank reconciliation at March 31:$46,500Balance per bank, March 31Add: Deposit in transitLess: Outstanding checks10,500(12,600)Balance per books, March 31$44.400In addition, data per bank for the month of April follows:DepositsDisbursements$58,40049,700All reconciling items at March 31 cleared the bank in April. Outstanding checks at the end of April totaled $7,000.There were no deposits in transit at the end of April. What is the cash balance per books on April 30?$48,200$52,900$55,200$58,500None of the above.A.B.C.D.E.

3. Richardson Inc. had the following bank reconciliation at March 31: Balance per bank, March 31 Add: Deposit in transit Less: Outstanding checks Balance per books, March 31 $46,500 10,500 (12,600) $44.400 In addition, data per bank for the month of April follows: Deposits $58,400 Disbursements 49,700 B. C. D. E. All reconciling items at March 31 cleared the bank in April. Outstanding checks at the end of April totaled $7,000. There were no deposits in transit at the end of April. What is the cash balance per books on April 30? A. $48,200 $52,900 $55,200 $58,500 None of the above.

3. Richardson Inc. had the following bank reconciliation at March 31: Balance per bank, March 31 Add: Deposit in transit Less: Outstanding checks Balance per books, March 31 $46,500 10,500 (12,600) $44.400 In addition, data per bank for the month of April follows: Deposits $58,400 Disbursements 49,700 B. C. D. E. All reconciling items at March 31 cleared the bank in April. Outstanding checks at the end of April totaled $7,000. There were no deposits in transit at the end of April. What is the cash balance per books on April 30? A. $48,200 $52,900 $55,200 $58,500 None of the above.

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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Prepare a bank reconciliation from the following information:a. Balance per bank statement as of May 31, $17,755.44b. Balance per books as of May 31, $12,211.94c. Deposits in transit, $2,254.81d. Outstanding checks, $7,819.16e. Bank service charge, $20.85
Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: Cash balance according to the company's records at July 31, $23,900. Cash balance according to the bank statement at July 31, $25,170. Checks outstanding, $4,850. Deposit in transit, not recorded by bank, $3,900. A check for $590 issued in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $40. Journalize the entries that should be made by the company, part (a) Error and part (b) Service Charge. If an amount box does not require an entry, leave it blank. a. July 31 - Select - - Select - - Select - - Select - b. July 31 - Select - - Select - - Select - - Select -
Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: Cash balance according to the company's records at July 31, $25,010. Cash balance according to the bank statement at July 31, $26,060. Checks outstanding, $5,080. Deposit in transit, not recorded by bank, $4,080. A check for $340 issued in payment of an account was erroneously recorded in the check register as $430. Bank debit memo for service charges, $40. Journalize the entries that should be made by the company, part (a) Error and part (b) Service Charge. If an amount box does not require an entry, leave it blank. a. July 31 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 b. July 31 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12
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Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31, $22,240. Cash balance according to the bank statement at July 31, $23,450. Checks outstanding, $4,510. Deposit in transit, not recorded by bank, $3,630. A check for $590 in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $30. Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge. a. July 31 b. July 31
Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Line Item Description Amount Cash balance per bank, October 31 $15,554 Note receivable collected by bank 4,010 Outstanding checks 7,718 Deposits in transit 5,145 Bank service charge 140 NSF check 1,521 Determine the cash balance per the company’s records (before adjustments). a. $17,903 b. $10,632 c. $12,981 d. $15,330
Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Kaycee Sisters Inc. for August 20Y9: a. Cash balance according to the company's records at August 31, $28,730. b. Cash balance according to the bank statement at August 31, $30,200. c. Checks outstanding, $5,830. d. Deposit in transit, not recorded by bank, $4,680. e. A check for $590 in payment of an account was eroneously recorded by Kaycee Sisters Inc. as $950. f. Bank debit memo for service charges, $40. Prepare a bank reconciliation, using the format shown in Exhibit 12. Kaycee Sisters Inc. Bank Reconciliation August 31, 20Y9 Cash balance according to bank statement Adjusted balance Cash balance according to Kaycee Sisters Inc. $ Adjusted balance
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Blanksheet entries for bank reconciliation