Balance per bank statement, Dec 31, 2020 38,830 Collections recorded but not yet deposited in the bank 4,353 NSF check- not recorded on books 1,820 Bank charges not yet recorded 35 Note collected by bank and not yet recorded in the books 1,790 Outstanding checks 2,200 The cash balance per books of ABC Company on Dec 31, 2020 is:

Balance per bank statement, Dec 31, 2020 38,830 Collections recorded but not yet deposited in the bank 4,353 NSF check- not recorded on books 1,820 Bank charges not yet recorded 35 Note collected by bank and not yet recorded in the books 1,790 Outstanding checks 2,200 The cash balance per books of ABC Company on Dec 31, 2020 is:

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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Use the following to answer questions 1-4 Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet. Item 1 Supplies 2. Currency 3 60-day US Treasury Bill 4. 6-month Certificate of deposit Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or the company balance. Use the number (1-4) for your response. For instance, if the amount should be added to bank statement balance you would input 1. 1. Added to bank statement balance 2. Subtracted from bank statement balance 3. Added to company cash balance 4. Subtracted from company cash balance 5 6 7 8 Cash, Cash equivalent, or neither. Item Bank error, cleared the same deposit twice NSF Checks outstanding Interest earned Use the following to answer questions 9-11 On February 28th, the general ledger of the company shows a balance for cash of $100,000. Cash receipts yet to be…
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Below is Huru's Company information for the preparation of proof of cash: Nov 30 Dec 31 A Cash Account Balance 15,822 39,745 B Bank Statement Balance 107,082 137,817 C Deposit in Transit. 8,201 12,880 D Outstanding Checks 27,718 30,112 E Bank Service Charge 72 60 F Customer's chck deposited 9,250 Dec 10, returned due to NSF G Notes receivable collection 71,815 80,900 Receipts balance per book 235, 452 Disbursements as per bank 212 529 Prepare the proof of cash and answer the following questions Adjusted cash balance How much is the cash shortage How much is the adjusted receipts and disbursement
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Required information [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 $25,768 debit balance, but its July bank statement shows a $27,728 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 $1,250 but was erroneously entered in the accounting records as $1,240. d. The July bank statement shows the bank collected $ 8,000 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 recorded this check as NSF. f. The July statement shows a $12 bank service…
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Interest received by the bank on behalf of the customers is: Added to cash balance Deducted from cash balance Added to the bank balance Deducted from bank balance ashemi (Log out) 直。
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5. 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…
Using the information from given question, what is the reconciled balance on Hapley’s November 30 bank reconciliation?
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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 OOUI