At November 30, Mazaya Company has the following bank information. cash balance per book RO4.600, outstanding checks RO 280; depositsin transit RO550, credit memo for interest RO10, bank service charge R.O.20. What is Mazaya's adjusted cash balance on November 30?
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- The following items may appear on a bank statement: Bank correction of an error from recording a $3,200 deposit as $2,300 EFT payment Note collected for company Service charge Using the format shown below, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company’s account.Given the following information, determine the adjusted cash balance per books from the following information: a. Balance per books as of June 30, $8,600. b. Outstanding checks, $820. с NSF check returned with bank statement, $130. d. Deposit mailed the afternoon of June 30, $300. e Check printing charges, $30. Interest earned on checking account, $12. Adjusted cash balance per books $The following extract from the cash book of John for the month of January shows thecompany’s bank transactions:RM RM01 Jan Balance b/f 600 18 Jan Ali 14513 Jan Uno 224 28 Jan PBA 7231 Jan Latif 186 30 Jan TNB 10931 Jan Balance c/f 6841,010 1,010The company’s bank statement for the same period is as follows: Debit (RM) Credit (RM) Balance (RM)01 Jan Balance 63503 Jan Halim 35 60013 Jan Uno 224 82423 Jan Ali 145 67931 Jan Standing order 30 649Required:a. Prepare a corrected cash book using the information given above. b. Draw up a bank reconciliation statement.
- At August 31, Sheridan Company has a cash balance per books of $7,750 and the following additional data from the bank statement: charge for printing Sheridan Company checks $58, interest earned on checking account balance $41, and outstanding checks $820.Determine the adjusted cash balance per books at August 31. Adjusted cash balance per books $The phone data where accumulated for use and reconciling the bank account of Mathers Co. For July: 1. Cash balance according to the company's records at July 31st $18,310. 2. Cash balance according to the bank statement at July 31st, $19,360. 3. Checks outstanding, $3,720. 4 . Deposit in transit, not recorded by Bank $2,980. 5. A check for $480 in payment of an account was erroneously record it in the check register as $840. 6. Bank debit memo for service charges, $50. A. Prepare a bank reconciliation, using the format showing in exhibit 14 Mather Co. Bank Reconciliation July 31 ___________________________________________ Cash balance according to bank statement $ _______ _______ ______ Adjusted balance. $_____ Cash balance according to companies records $ ___ ________ ________ Adjusted balance.…Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
- The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): Balance, April 1, Current. Year Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Debit April 1 Balance April Deposits BANK STATEMENT Cash balance Checks Cash (A) $45,500 270 150 Deposits $37,200 1,210 Credit 25,300 April Checks written 43,400 Balance $31,500 68,700 69,910 24,410 24,140 23,990 23,990 43,700 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,400 (including $2,600 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. 3. What was the beginning balance in the cash account in the ledger on May 1, Current Year?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 0The following information was available to reconcile A.C. Forrest Company's book cash balance with its bank statement as of June 30, 2020: The June 30 cash balance according to the accounting records was $14,630. Oustanding checks from May's bank reconciliation: Check # 229 $770 Check # 230 540 Below is a record of the cash receipts and cash payments for June: Cash Deposits Cash Payments Date Amount Check# Amount Jun 2 $3,600 231 $1,500 Jun 5 4,210 232 7,510 Jun 11 5,230 233 1,800 Jun 17 4,500 234 3,230 Jun 23 3,350 235 1,100 Jun 27 5,100 236 1,250 Jun 30 5,390 237 6,270 238 1,650 239 820 240 1,430 241 740 242 1,310 243 2,190 244 5,300 Continued…
- The following information is available for the Gucci Company for the month of December a. The December 31 cash balance according to the accounting records is $1,610 and the bank statement shows a balance of $1,900. b. Outstanding checks at December 31 include check #6273 in the amount of $400, check #6282 in the amount of $100 and check #6242 in the amount of $200. c. A credit memo included with the bank statement indicates that the bank collected $500 on a noninterest-bearing note receivable for Gucci. The bank deducted a $30 collection fee, and credited the remainder of $470 to Gucci’s account. d. The bank statement shows a $150 charge for a $140 NSF check plus a $10 NSF charge. The check had been received from a customer, J. Brown. This has not yet been recorded by the company. e. A deposit placed in the bank’s night depository on December 31 totaled $800, and did not appear on the bank statement. f. Examination of the checks on the bank statement with the entries in the accounting…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 Recociliation11. Computing Checking Account Balance. Based on the following information, determine the true balance in your checking account. (See the related O Financial Literacy Calculations feature.) Balance in your checkbook, $ 356 Balance on bank statement, $472 Service charge and other fees, $15 Interest earned on the account, $4 Total of outstanding checks, $187 Deposits in transit, $60 O Et Type here to search