ANYTOWN BANK PLC Current account statement D. DHILLON Account name Account number 007457892 Branch Karachi Transactions Date Details Debit Credit Balance 1 October 3 October 7 October Balance 127.63 Lodgement 367.42 495.05 674 81.31 413.74 Lodgement Lodgement 84.56 498.30 10 October 97.42 595.72 15 October 675 364.42 231.30 16 October 673 272.61 41.31 OD 31 October Credit transfer G. Jackson 41.99 0.68 149.32 OD Stdg order Loan repmt Dishonoured cheque Bank charges 150.00 12.48 161.80 OD 27.56 189.36 OD Figure 12.4 Dhillon's bank statement Required a Make any adjustments to Dhillon's cash book. b Prepare a bank reconciliation statement at 31 October.

ANYTOWN BANK PLC Current account statement D. DHILLON Account name Account number 007457892 Branch Karachi Transactions Date Details Debit Credit Balance 1 October 3 October 7 October Balance 127.63 Lodgement 367.42 495.05 674 81.31 413.74 Lodgement Lodgement 84.56 498.30 10 October 97.42 595.72 15 October 675 364.42 231.30 16 October 673 272.61 41.31 OD 31 October Credit transfer G. Jackson 41.99 0.68 149.32 OD Stdg order Loan repmt Dishonoured cheque Bank charges 150.00 12.48 161.80 OD 27.56 189.36 OD Figure 12.4 Dhillon's bank statement Required a Make any adjustments to Dhillon's cash book. b Prepare a bank reconciliation statement at 31 October.

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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31.1.2020 XYZ Company withdrawn Cash RO. 4500 from the bank. Which of the following is the correct journal entry of the transaction? Select one: a. Accounts Debit Credit (RO) Date (RO) 31.1.2020 Cash 4500 Bank 4500 b. Date Accounts Debit Credit (RO) 31.1.2020 Drawings 4500 (RO) Cash 4500 С. Accounts Debit Credit (RO) Date (RO) 31.1.2020Withdrawal 4500 Bank 4500
Required information Problem 6-4A (Algo) Preparing a bank reconciliation and recording entries LO P3 [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,640 debit balance, but its July bank statement shows a $28,276 cash balance. b. Check Number 3031 for $1,620, Check Number 3065 for $586, and Check Number 3069 for $2,388 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $7,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet…
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The bank reconciliation prepared by Gatz Company on May 31, 2020, appeared as follows: GATZ COMPANY Bank Reconciliation May 31, 2020 Bank statement balance $ 9,364.35 Book balance $19,639.00 Add: Deposit of May 31 in transit 959.00 $10,323.35 Deduct: Deduct: Outstanding cheques: NSF cheque plus service charge $11,655.65 #876 643.00 #882 1,763.00 2,406.00 Bank service charge 66.00 11,721.65 Adjusted bank balance $ 7,917.35 Adjusted book balance $ 7,917.35 The Cash account in the General Ledger appeared as follows on June 30 (Gatz uses only a General Journal to record transactions): Acct. No. Cash 101 Date Explanation PR Debit Credit Balance 2020 May 31 Balance June 1 Cheque #883 1 Cheque #884 3 Cheque #885 4 Cheque #886 9 Deposit 12 Cheque #887 7,917.35 1,850.00 6,067.35 107.00 5,960.35 618.00 5, 342.35 GJ16 GJ16 GJ16 GJ16 1,917.00 3,425.35 8,011.35 425.15 7,586.20 3,143.00 4,443.20 937.00 3,506.20 7,392.20 2,540.00 4,852.20 1,406.24 3,445.96 950.96 GJ16 4,586.00 GJ16 12 Cheque #888 12…
Required Information Problem 6-4A (Algo) Preparing a bank reconciliation and recording entries LO P3 [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,296 debit balance, but its July bank statement shows a $27,253 cash balance. b. Check Number 3031 for $1,350, Check Number 3065 for $451, and Check Number 3069 for $2,118 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,210 but was erroneously entered in the accounting records as $1,200. d. The July bank statement shows the bank collected $10,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet…
Required Information Problem 6-4A (Algo) Preparing a bank reconciliation and recording entries LO P3 [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,296 debit balance, but Its July bank statement shows a $27,253 cash balance. b. Check Number 3031 for $1,350, Check Number 3065 for $451, and Check Number 3069 for $2,118 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,210 but was erroneously entered in the accounting records as $1,200. d. The July bank statement shows the bank collected $10,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet…
The December bank statement and cash T-account for Stewart Company follow: 55 December 1 December 1 December 6 December 11 December 17 December 23 December 26 December 30 December 31 December 31 NSF check from J. Left, a customer. Deposits December 11 Checks December 23 December 30 December 31 $ 7,540 9,900 13,600 Balance December 31 Balance BANK STATEMENT Deposits $ 27,000 34,000 18,000 Cash (A) 38,400 27,000 34,000 18,000 11,000 90,950 Other 3. Prepare a bank reconciliation for December. NSF* Interest earned Service charge Credit elow.] Checks written during December: 7,540 470 9,900 13,600 5,400 $ 220 There were no deposits in transit or outstanding checks at November 30. Balance $ 38,400 30,860 57,390 47,490 81,490 81,020 85,200 85,230 85,160
Required information Skip to question [The following information applies to the questions displayed below.]The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,600 August 2 $ 120 13,480 August 3 $ 9,300 22,780 August 4 220 22,560 August 5 160 22,400 August 9 530 21,870 August 10 130 21,740 August 15 3,100 24,840 August 21 220 24,620 August 24 15,500 9,120 August 25 5,650 14,770 August 30 620 14,150 August 30 Interest earned $ 20 14,170 August 31 Service charge 10 14,160 Cash (A) Debit Credit August 1 Balance 13,600 Deposits Checks written August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4 530 August 5 200 August 15 280 August 17 620 August 18 220 August 19…