At July 31, Windsor, Inc. has the following bank information: cash balance per bank $8,070, outstanding checks $722, deposits in transit $1,481, and a bank service charge $24. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank
Q: The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:…
A: Reconciliation of bank balances with balances as per books of company and with bank records are done…
Q: The following information was available to reconcile A.C. Forrest Company's book cash…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Q: At August 31, Swifty Corporatiòn has a cash balance per books of $7,820 and the following additional…
A: Bank reconciliation statement is prepared to reconcile the differences in cash balance with bank…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: Franklin Company deposits all cash receipts on the day they are received and makes all cash payments…
A: A bank reconciliation statement aligns an organization's bank account with its financial documents…
Q: the following bank information: cash balance per bank $8,070, outstanding checks $722, deposits in…
A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: Using the following information: a. The bank statement balance is $3,349. b. The cash account…
A: Bank Reconciliation Statement for Miller Co. as of August 31st: Bank Statement Balance: $3,349Add:…
Q: At November 17, Icon Company has this bank information: cash balance per bank $6,950; outstanding…
A: Adjusted cash balance per bank means where the bank balance has been adjusted with outstanding…
Q: At April 30, Kessler Company has the following bank information: Cash balance per bank $6,900…
A: Lets undertand the basics. Bank reconciliation statement is prepared by entity in order to reconcile…
Q: The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:…
A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…
Q: The following information is extracted from the bank statement and the accounting records of Sun…
A: The bank reconciliation statement is prepared to equate the balances of the cash book and passbook…
Q: Mackie Company had the following information on March 31, 2023: 1. Cash balance per bank, March 31,…
A: The bank reconciliation statement is prepared to equate the cash book and pass book balances. NSF…
Q: Using the following information: The bank statement balance is $4,044. The cash account balance is…
A: Bank Reconciliation is statement prepared to reconcile the difference between balance in bank…
Q: Using the following information: a. The bank statement balance is $4,340. b. The cash account…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: At April 30, Novak Corp. has the following bank information: Cash balance per bank $4400…
A: The bank reconciliation has two parts, namely bank balance and book balance. Both of these balances…
Q: At April 30, Kessler Company has the following bank information: Cash balance per bank $6,900…
A: INTRODUCTION: The "adjusted balance method" of accounting bases finance charges on the amount(s)…
Q: As of June 30, Year 2, the bank statement showed an ending balance of $17,806. The unadjusted Cash…
A: The bank reconciliation statement is prepared to equate the balances of the cash book and pass book…
Q: A company shows an ending balance of $790. The bank statement shows a $14 service charge and an NSF…
A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book…
Q: bank reconciliation
A: A bank reconciliation statement is a useful statement that lets you find the differences in cash…
Q: The following information is available to reconcile Branch Company's book balance of cash with its…
A: The bank reconciliation statement is prepared to equate the balances of the cash book and pass book…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: Bank reconciliation statement :— It is the statement that shows the reconciliation of balance as per…
Q: Question. At April 30, Kessler Company has the following bank information: Cash balance per bank…
A: INTRODUCTION: The accounting technique known as the "adjusted balance method" bases finance charges…
Q: rangelina Adoption Agency's general ledger shows a cash balance of $4,582. The balance of cash in…
A: Checks that have been drawn by the company but have not been deducted from the bank balance are…
Q: Sage Hill Inc.’s bank statement from Main Street Bank at August 31, 2022, gives the following…
A:
Q: Using the following information: a. The bank statement balance is $2,622. b. The cash account…
A: Bank reconciliation statement is prepared by the management at a particular time period. It helps to…
Q: At April 30, Marigold Company has the following bank information: cash balance per bank $2360;…
A: Lets undertand the basics.Bank reconciliation statement is prepared by entity in order to reconcile…
Q: he following information is available to reconcile Branch Company’s book balance of cash with its…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: The following data were accumulated for use in reconciling the bank account for Mathers Co. For…
A: A bank reconciliation statement is prepared by almost every organization at a particular time. It is…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: Given: Debited balance in cash account = $ 27,497 Cash balance in July = $ 27,233 Amount in Cheque…
Q: e following information, determine the adjusted bank balance. Bank balance: $6,925 Deposits in…
A: Solution: Adjusted bank balance is the balance of bank after adjusting for cash transaction which…
Q: The cash account of Sheffield Co. showed a ledger balance of $7,088.13 on June 30, 2020. The bank…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
Q: Using the following information: The bank statement balance is $3,093. The cash account balance is…
A: Bank reconciliation statement record book which reconcile the balance as per bank books with cash…
Q: The following information is available to reconcile Branch Company's book balance of cash with its…
A: Bank reconciliation is a process used by businesses and individuals to ensure that the company's…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: Bank Reconciliation Statement :— It is the statement that is prepared to reconcile the balance as…
Q: The following information is available to reconcile Branch Company's book balance of cash with its…
A: Journal entries in the books of accounts are reported in order to maintain a proper daily record.…
Q: The information below relates to the Cash account in the ledger of Vaughn Company. Cash…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles…
A: Bank reconciliations are prepared at the end of each accounting period.It is the process of identify…
Q: following information: a. The bank statement balance is $4,26 b. The cash account balance is $4,448.…
A: Bank Reconciliation statement is a record book of the transactions of a bank account. This statement…
Q: The following information is available to reconcile Branch Company’s book balance of cash with its…
A: The journal entries are prepared to record the transactions on regular basis. The bank…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- As of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028. The following information is available: 1. Deposit in transit, $2,795. 2. Credit memo in bank statement for interest earned in June: $14. 3. Outstanding check: $3,946. 4. Debit memo for service charge: $12. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ $ 18,181 18,181 4 0Using the following information: The bank statement balance is $3,718. The cash account balance is $4,086. Outstanding checks amounted to $866. Deposits in transit are $1,177. The bank service charge is $48. A check for $78 for supplies was recorded as $69 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.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 $25,411 debit balance, but its July bank statement shows a $27,770 cash balance. b. Check Number 3031 for $1,510, Check Number 3065 for $531, and Check Number 3069 for $2,278 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8,500 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 recorded this check as NSF. f. The July statement shows a $13 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification…
- Using the following information, prepare a bank reconciliation for Sunland Company for July 31, 2022. The bank statement balance is $3,770. The cash account balance is $4,170. Outstanding checks totaled $1,360. a. b. C. d. e. f. Deposits in transit are $1,670. The bank service charge is $54. A check for $95 for supplies was recorded as $59 in the ledger.Using the following information: The bank statement balance is $3,159. The cash account balance is $3,414. Outstanding checks amounted to $511. Deposits in transit are $641. The bank service charge is $116. A check for $43 for supplies was recorded as $34 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31.The ending bank statement balance at November 30 is $6,850. The bank statement shows a service charge of $85, electronic funds receipts of $500, and a NSF check for $350. Deposits in transit total $2,350 and outstanding checks are $1,535. The balance per books at November 30 is $7,600. What is the adjusted bank balance at November 30? A. $8,415 B. $6,915 C. $6,850 D. $7,665
- Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,450, outstanding checks of $3,900, an NSF check of $2,600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3,400. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)?The information below relates to the Cash Account in the Ledger of Vaughn Company. Balance September 1-$17,060; Cash Deposited-$64,330. Balance September 30-$17,784: Checks written-$63,606. The September bank statement shows a balance of $16,802 on September 30 and the following memoranda. CREDITS Collection of $1684 note plus interest $36 $1720 Interest earned on checking account $51 DEBITS NSF check: Richard Nance $615 Safety Deposit box Rent $71 At September 20, Deposits in Transit were $4640, and outstanding checks totaled $2573 Make a bank RecociliationThe 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 journalize item #4? Cash debit 1248 notes receivable 1200 and interest revenue 48 credit Cash debit 1248 notes receivable 1248 credit Cash debit 1248 notes payable 1200 and interest revenue 48 credit None of them
- On July 31, 2020, Concord Company had a cash balance per books of $6,043.75. The statement from Dakota State Bank on that date showed a balance of $7,738.05. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2. 3. 4. 5. 6. The bank service charge for July was $25. The bank collected $1,680 for Keeds Company through electronic funds transfer. The July 31 receipts of $1,225.50 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $361 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for $316. Checks outstanding on July 31 totaled $1,888.80. On July 31, the bank statement showed an NSF charge of $579 for a check received by the company from W. Krueger, a customer, on account.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 balanceAt July 31, Sunland Company has the following bank information: cash balance per bank $8,380, outstanding checks $712, deposits in transit $1,211, and a bank service charge $26. Determine the adjusted cash balance per bank at July 31. What is the adjusted cash balance per bank?