1.2.3.4.5.6.7.(a)Balance per bank, July 31, $8,508.July bank service charge not yet recorded by Sunland, $25.Balance per books, July 31, $8,886.Deposits in transit, July 31, $2,528.Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland.Outstanding cheques, July 31, $888.Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related ban$40. The charges will be added to the customer's account.-Your answer is partially correct.Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)

Bank reconciliation statement is the one which is prepared by the entity for the purpose of…

Balance per bank, July 31, $8,508. July bank service charge not yet recorded by Sunland, $25. Balance per books, July 31, $8,886. Deposits in transit, July 31, $2,528. Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland. Outstanding cheques, July 31, $888. 7. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bar $40. The charges will be added to the customer's account. 1. 2. 3. 4. 5. 6. (a) - Your answer is partially correct. Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)

Balance per bank, July 31, $8,508. July bank service charge not yet recorded by Sunland, $25. Balance per books, July 31, $8,886. Deposits in transit, July 31, $2,528. Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland. Outstanding cheques, July 31, $888. 7. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bar $40. The charges will be added to the customer's account. 1. 2. 3. 4. 5. 6. (a) - Your answer is partially correct. Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

s
5. Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $22,381, whereas Johnson's cash account shows a balance of $22,025 on October 31. The following additional information is available: 6. A $855 deposit made on October 31 was not recorded by the bank until November. 7. At the end of October, outstanding checks total $1,222. 8. The bank statement shows bank service charges of $125 not yet recorded by the company. 9. The company erroneously recorded as $973 a check that it had actually written for $379. It was correctly processed by the bank. 10. A $480 check from a customer, deposited by the company on October 29, was returned with the bank statement for lack of funds. Required: 1. Prepare the October bank reconciliation for Johnson Corporation.
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.…
The following information pertains to Moon designing Company. Cash balance per bank, July 31, $8,000. July bank service charge not recorded by the depositor $37. Cash balance per books, July 31, $8,021. Deposits in transit, July 31, $1,500. Bank collected $900 note for Moon in July, plus interest $36, less fee $20. The collection has not been recorded by Moon, and no interest has been accrued. Outstanding checks, July 31, $600. Required Prepare a bank reconciliation at July 31. Journalize the adjusting entries at July 31 on the books of Moon designing Company.
Jk. 199.
The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998. a. Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495. b. Deposits in transit not recorded by bank, $778. c. Bank debit memo for service charges, $40. d. Bank credit memo for note collected by bank, $23,985 plus $885 interest. e. Bank debit memo for $756 NSF (not sufficient funds) check from Calin Sams, a customer. f. Checks outstanding, $1,860. Record the appropriate journal entries that would be necessary for Jeffrey Co. Record the entry that increases cash first. If an amount box does not require an entry, leave it blank.
As on 30 April the Bank statement of CAT LLC reports a bank balance of RO 6,250, without recording a credit transfer from a customer of RO 4,200 and a standing order payment of RO 3,500. Deposits awaiting clearance were RO 3,400 and the value of cheques yet to be presented on this date was RO 3,780. The cash bank balance is. a. RO 4330 b. Ro 8170 c. RO 2830 d. RO 1920
please provide in text format without image
The bank statement balance is $3,500 and shows a service charge of $24 , interest earned of $3, and an NSF cheque for $100. Deposits in transit total $1,400; outstanding cheques are $450. The bookkeeper mistakenly recorded as $158 a cheque of $132 in payment of an account payable. 1. Prepare Bank Reconciliation 2. Prepare the adjusting entry
1. Cash balance per bank, July 31, $ 7,263. 2. July bank service charge not recorded by the depositor $ 28. 3. Cash balance per books, July 31, $ 7,284. 4. Deposits in transit, July 31, $ 1,300. 5. Bank collected $ 700 note for Crane in July, plus interest $ 36, less fee $ 20. The collection has not been recorded by Crane, and no interest has been accrued. 6. Outstanding checks, July 31, $ 591. (a) Prepare a bank reconciliation at July 31. (List items that increase cash balance first.) CRANE VIDEO COMPANYBank ReconciliationChoose the accounting period Select an opening name for section one $ Enter a dollar amount Select between addition and deduction : Select a reconciling item Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction : Select a reconciling item Enter a dollar amount Select a closing name for section one $ Enter a total…
The following information pertains to Concord Video Company. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. Bank collected $1,150 note for Concord in July, plus interest $45, less fee $29. The collection has not been recorded by Concord, and no interest has been accrued. 6. Outstanding checks, July 31, $600. (b) Journalize the adjusting entries at July 31 on the books of Concord Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit July 31 Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account…
On December 31st, the cheque book balance of Bob's Burgers Ltd. was $1,301.31. The bank statement balance was $1,670.26. Cheques outstanding were $3,152.88. The statement revealed a deposit in transit of $2,815.35 as well as a bank service charge of $112.88. The company earned interest income of $44.30. Complete a bank reconciliation for Bob's Burgers Ltd. $1,332.73 $1,968.23 $1.514.04 $1,345.61 $1,414.19 $1,896.66 $1.269.89 $2.454.19