Add: Balance per Bank at 12/31/2019 Viking Soup, Inc. Bank Reconciliation 12/31/2019 General Cash Account Deposit in Transit Deduct: Outstanding Checks Check #3147 Check #3149 Check #3152 Balance per Books at 12/31/2019 $1,672,980 156,745 (372,500) (5,437) (67,842) $1,383,946 A B C
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- PROBLEM 5: In reconciling the cash balance on December 31, 2020 with that shown in the bank statement, Nana Company provided the following information: Balance per bank statement 4,000,000 Outstanding check 600,000 Deposit in transit 475,000 Service Charge 10,000 Proceeds of bank loan, December 1, discounted for 6 months 12%, not recorded on Nana Company's books 940,000 Customer's check charged back by bank for absence of counter signature 50,000 Deposit of P100,000 incorrectly recorded by bank as Check of Layla's Company charged by bank against Nana's account 10,000 150,000 Customer's note collected by bank in favor of Nana Company Face 400,000 Interest 40,000 Total 440,000 Collection fee 5,000 435,000 Erroneous debit memo of December 28, to charge Nana's account with settlement of bank loan Deposit of Layla Company credited to Nana account 200,000 300,000 What is the adjusted cash in bank on December 31, 2020?Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: Stewart Recording Studio Bank Reconciliation March 31, 2020 Bank statement balance $ 22,200 Book balance $ 31,085 Add: Deposit of March 31 in transit 10,045 $ 32,245 Deduct: Outstanding cheques: #14 $ 843 #22 317 1,160 Adjusted bank balance $ 31,085 Adjusted book balance $ 31,085 Cash Acct. No. 101 Date Explanation PR Debit Credit Balance 2020 March 31 Balance 31,085 April 30 CR17 71,762 102,847 30 CD13 92,000 10,847 A list of deposits made and cheques written during April, taken from the Cash Receipts Journal and Cash Disbursements Journal, is shown below: Deposits Made April 7 $ 693 13 4,620 18 5,926 23…PLEASE ANSWER ASAP Problem No. 2 The following information pertains to AACA Corp.: AACA Corp. BANK RECONCILIATION November 30, 2022 Balance per bank statement P435,000 Less: Outstanding checks No. 4321 P 6,000 4329 15,000 4340 1,700 4341 4,675 27,375 P407,625 Add: Deposit in transit 16,200 Balance per books P423,825 Check Register December 2022 Date Payee No. Voucher Payable Discount Cash Dec. 1 Earl Inc. 4342 P10,000 P500 P9,500 3 JonJon Co. 4343 4,200 - 4,200 7 Aldous Corp. 4344 3,755 - 3,755 12 Von Company 4345 12,000 120 11,880 15 Payroll 4346 96,000 - 96,000 16 Abraham Co. 4347 6,300 - 6,300 18 Rian Corp. 4348 14,200 142 14,058 21 Mark, Inc. 4349 7,000 - 7,000 22 Petty cash fund 4350 10,000 -…
- H7. What is ABC Company, Inc.'s cash balance as of March 31? Cash balance on depositor's books: $15,000 checks in circulation: $2,500 interest earned on account balance: $15 customer check returned for non-sufficient funds (“NSF”): $100 multiple choice a)$12,500 b)$14,885 c)$14,915 d)$17,3855. The AA Company’s cash in bank for the year ended December 31, 2022, following information are available: November 30 December 31 Cash per books P530,500 ? Cash per bank statements 510,000 520,500 Deposits in transit 260,100 ? Outstanding checks 162,600 220,400 Bank service charges 2,500 2,700 Insufficient fund check 10,500 12,000 Company's notes receivable collected by bank 130,000 125,000 The bank statement and the company’s cash records show the following totals: Checks and debit memos per bank statement P470,500 Cash receipts per cash record 490,500 Cash disbursements per cash records 450,000 Deposits and credit memos per bank statement 481,000 Additional information: A P40,000 book debit error in November was corrected in December. A P25,000 withdrawal of AB Corporation…Problem 3 Serato Company keeps all Its cash In a checking acount. An examination of the entity's accounting records and bank statement for the month ended December 31, 2020 revealed a bank statement balance of P8.469.000 and a book balance of P8,524,000. A deposit of P950,000 placed in the bank's night depository on December 29 does not appear on the bank Statement. Checks outstanding on December 31 amount to P270, 000. The bank statement snows that on December 25, the bank collected a note for Serato Company and credited the proceeds of P935,000 to the entity's account. The proceeds included P35,000 interest, all or Wich Serato Company earned during the current period, Serato Company has not yet recorded the said collection. Serato Company discovered that check number 1000759 written in December for P183,000 in payment of an account had been recorded in the entity's records as P138,000. Included with the December 31 bank statement was an NSF check for P250,000 that Serato Company had…
- Waterway, Inc. had the following bank reconciliation at March 31, 2020: Balance per bank statement, 3/31/20 Add: Deposit in transit Less: Outstanding checks Balance per books, 3/31/20 Data per bank for the month of April 2020 follow: Deposits Disbursements $36600 O $25050 O $31100 O $29350 O $26350 6240 42840 8540 $34300 $47200 50400 All reconciling items at March 31, 2020 cleared the bank in April. Outstanding checks at April 30, 2020 totaled $6050. There were no deposits in transit at April 30, 2020. What is the cash balance per books at April 30, 2020?Requlred Informetion [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 ৪9, 938 88,970 88,470 88,520 88,370 Date Other Dec. 1 $ 7,620 558 $28, 000 13,900 11 17 23 36, e00 26 960 30 NSF* $300 50 19, 200 19, e00 31 Interest earned 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, e00 Deposits Dec. 11 23 Checks written during December: 7,620 28, 800 36, ee0 19,e00 13,e00 550 30 13,900 960 31 150 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Requlred: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $36,000 $19,000 $13,000 2. [dentify and list the outstanding checks at the end of December (Select all that apply.) $7,620 $550 $13,900 $880 $150 $19,200 $4,500 OOUICheckbook balance:$1,792.50 Bank statement balance: $972.00 Checks outstanding (checks written which have not yet been cashed): Check No. 455 $50.00 Check No. 477 $88.00 Check No. 479$125.00 Deposits outstanding (deposits made but not yet recorded by the bank): 3/3$550.00 3/4$525.50 Bank service charge:$12.00 Interest earned on your account:$4.00 You have recorded all deposits in your checkbook. RECONCILIATION FORM Balance from bank statement $ Balance from checkbook $ Add outstanding deposits $ $ Add deposits not recorded $ Total outstanding deposits $ Total deposits not recorded $ Subtotal $ Subtotal $ Deduct outstanding checks $ $ $ Deduct bank fees $ Total outstanding checks $ Balance less fees $ Add interest earned $ Adjusted bank balance $ Adjusted checkbook balance $
- Adjusted cash balance?A -1 Prepared by Reviewed by William, Inc. Bank Confirmation - General Account December 31, 2022 Balance per Bank at December 31, 2022 $20,200.22 * Deposit in Transit - per A-1-2 2,000.00 # Outstanding Checks - per A-1-3 (5,200.00) Other - Note Collected by Bank (10,000.00) ^ Bank Service Charge (9.50) Balance per Books at December 31, 2022 $8,990.72 * f f Column footed. ^ Amount agrees to amount recorded as a deposit on the bank statement and description agrees with receipt enclosed with 12/31/22 bank statement. This note is the Kristopher note receivable that was recorded as a receipt by the client in the cash receipts journal on January 3, 2023. The receivable was appropriately credited and properly reflected in the January cash receipts journal. No adjustment needed as bank and books simply record this in different periods. #Agreed to December 31,…Vinubhai