Balazo Company provided the following data for the month of January: Balance per book, January 31 Balance per bank statement, January 31 Collections on January 31 but not deposited NSF check received from a customer returned by the 3,130,000 3,500,000 550,000 50,000 650,000 Bank on February 5 with the January bank statement Checks outstanding on January 31 Bank debit memo for safety deposit box rental not recorded By depositor A creditor check for P30,000 was incorrectly recorded in the Depositor's book as A customer check for P200,000 was recorded by the Depositor as 5,000 300,000 20,000 The depositor neglected to make an entry in its books for a Check drawn in payment of an account payable 125,000 5. What is the adiusted cash in bank on January 31?

Balazo Company provided the following data for the month of January: Balance per book, January 31 Balance per bank statement, January 31 Collections on January 31 but not deposited NSF check received from a customer returned by the 3,130,000 3,500,000 550,000 50,000 650,000 Bank on February 5 with the January bank statement Checks outstanding on January 31 Bank debit memo for safety deposit box rental not recorded By depositor A creditor check for P30,000 was incorrectly recorded in the Depositor's book as A customer check for P200,000 was recorded by the Depositor as 5,000 300,000 20,000 The depositor neglected to make an entry in its books for a Check drawn in payment of an account payable 125,000 5. What is the adiusted cash in bank on January 31?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5PA

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Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.
Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding checks: $558 Bank service charges: $50 NSF checks: $250 Prepare the correcting journal entry.
The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35
Catherines Cookies has a beginning balance in the Accounts Receivable control total account of $8,200. $15,700 was credited to Accounts Receivable during the month. In the sales journal, the Accounts Receivable debit column shows a total of $12,000. What is the ending balance of the Accounts Receivable account in the general ledger?
Singleako Company has the following data for the Month of December. November 30 December 31 Cash in bank Account Statement 2,032,000 3,160,000 Bank Statement 1,890,000 2,900,000 Bank Debits 1,080,000 Bank Credits ? Book Debits ? Book Credits 1,440,000 Outstanding Checks Deposit in Transit Check erroneously charged by the bank against Entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by the entity when Placed with bank for collection 180,000 592,000 80,000 498,000 40,000 50,000 2,000 4,000 (Note is actually collected by the bank in subsequent Month and credited by bank to entity's account in same Month) 200,000 300,000 Required: Prepare four-column reconciliation showing the adjusted balances. Prepare adjusting entry/ies.
Redlam Company provided the following data for the month of December: November 30 December 31 2,032,000 1,890,000 3,160,000 2,900,000 1,080,000 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits Book credits Outstanding checks Deposit in transit Check erroneously charged by bank against entity's account and corrected in subsequent month Bank service charge Note recorded as cash receipt by entity when placed with bank for collection and note is actually collected by bank in subsequent month and credited by bank to entity's account in same month 1,440,000 180,000 80,000 592,000 498,000 40,000 2,000 50,000 4,000 200,000 300,000 Required: a. Prepare a four-column reconciliation showing adjusted balances. b. Prepare one adjusting entry only on December 31.
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.
Sapphire Company provided the following information for the month of December: Balance per bank statement December 31 Bank service charge for December Interest paid by bank to Sapphire Company for December Deposits made but not yet recorded by the bank Checks written but not yet recorded by the bank The entity discovered that it had drawn and erroneously recorded a check of P46,000 that should have been recorded for P64,000. 2,800,000 12,000 10,000 350,000 650,000 What is the cash balance per ledger on December 31? A.2,500,000 B.2,520,000 C.2,540,000 D.2,800,000 O O O
Timex Company provided the following data relating to the cash transactions and bank account for the month of July: Cash balance per ledger Cash balance per bank statement Debit memo for July service charge Deposit of July 31 not recorded by bank until August 1 Outstanding checks, including certified check of P50,000 Proceeds of bank loan not recorded in ledger Proceeds from customer note, face P400,000, collected ? ? 5,000 450,000 740,000 500,000 by bank, collection fee of P15,000 A creditor check had been entered in the book as P20,000 and was erroneously deducted by the bank at A customer check was returned by bank marked DAIF 435,000 200,000 50,000 Correct cash balance 3,000,000 What is the cash balance per ledger?
Loren Company provided the following information: Balance per bank statement - May 31 Deposits outstanding Checks outstanding Correct bank balances - May 31 Balance per book - May 31 Bank service charge Correct book balance - May 31 June data are as follows: 2,600,000 300,000 ( 100,000) 2,800,000 2,810,000 ( 10,000) 2,800,000 Book Bank Checks recorded 2,200,000 2,500,000 Deposit recorded Service charge recorded Note collected by bank,P500,000 plus interest 1,600,000 1,800,000 50,000 550,000 NSF checks returned with June 30 statement 100,000 Balances 2,400,000 2,100,000 What is the amount of outstanding checks on June 30?