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- Question 4 part A and B onyProblems on Bank Reconciliation Q6 Prepare Bank Reconciliation statement as on March 31, 2019. On this date the passbook of Al Nasr Industries LLC showed a balance of RO 27,500. -Cheques of RO 14,000 directly deposited by a customer. -Cheques for RO 13,500 were issued during the month of March but of these cheques for RO 1,500 were not presented by the end of March. -The bank collected RO 2,500 as dividend on shares. -Cheques of RO 17500 were paid into bank but of RO 8500 were realized in the month of April.QS 6-10 (Algo) Bank reconciliation LO P3 For each of the items indicate whether its amount affects the bank or book side of a bank reconciliation and is an addition or a subtraction in a bank reconciliation and whether a journal entry is required: Items a. Bank maintenance fee b. NSF checks c. Check printing bank fee d. Deposits in transit e. Bank service charges f. Interest earned on deposits in bank g. Bank collected note receivable on behalf of depositor Bank or Book side Addition or Subtraction Entry required or Not
- Q46 For opening Joint Bank account, __________. Select one: a. Joint Venture A/c will be debited and Venturers A/c will be credited b. Joint Bank A/c will be debited & Joint Venture A/c is credited c. Joint Venture A/c is debited and Joint Bank A/c is credited d. Joint Bank A/c is debited and Venturers Capital A/c is crediteddouble entry for source document18 Owen Company's unadjusted book balance at June 30 is $13,680. The company's bank statement reveals bank service charges of $110. Two credit memos are included in the bank statement: one for $1,410, which represents a collection that the bank made for Owen, and one for $180, which represents the amount of interest that Owen had earned on its interest-bearing account in June. What is the true cash balance? 200441 Multiple Choice O O $15,160 $14,910 $15,380 $13,680
- 1633 - What is the record to be made when the company pays a debt that arises from the purchase of goods on credit, by paying a check from a customer by endorsement?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT COMMERCIAL GOODS XX SELLERS XXB) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT SELLERS XX CHECKS RECEIVED XXC) THE CODE AND NAME OF THE ACCOUNT WILL BE DEBT COMMERCIAL GOODS XX CHECKS RECEIVED XXD) CODE AND NAME OF THE ACCOUNT WILL BE DEBT SELLERS XX CHECK GIVEN AND PAYMENT ORDERS. XXE) THE CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT CHECK GIVENQuestion 16 of 16 If company records show a balance of $1,500, not including a $35 bank service fee and a $250 NSF cheque that the company did not receive the funds for, what would be the reconciled amount? Adjusted Balance: $
- Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,277.77. The bank statement shows an ending balance of $2,109.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, an noting the service charges and other debit and credit memos shown on the bank statement, the following were found: a. An ATM withdrawal of $150.00 on November 18 by Lyle for personal use was not recorded on the books. b. A bank debit memo issued for an NSF check from a customer of $19.20. c. A bank credit memo issued for interest of $20.00 earned during the month. d. On November 30, a deposit of $1,186.00 was made, which is not shown on the bank statement. e. A bank debit memo issued for $16.80 for bank service charges. f. Checks No. 549, 561, and 562 for the anounts of $181.00, $24.00, and $9.50, respectively, were written during November but have not yet been received…Question 11 of 30 In case of the bank has to pay the money on due date of the bils drawn by the beneficiary/ supplier under the letter of credit irespective of whether the party pays the money or not. Guarantee O Line of credit O Letter of credit AcceptancesSP 8 Santana Rey receives the March bank statement for Business Solutions on April 11, 2022. The March 31 bank statement shows an ending cash balance of $67,566. The general ledger Cash account, No. 101, shows an ending cash balance per books of $68,057 as of March 31 (prior to any reconciliation). A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following.A.The bank erroneously cleared a $500 check against the company account in March that S. Rey did not issue. The check was actually issued by Business Systems. B. On March 25, the bank statement lists a $50 charge for a safety deposit box. Santana has not yet recorded this expense. C. On March 26, the bank statement lists a $102 charge for printed checks that Business Solutions ordered from the bank. Santana has not yet recorded this expense. D. On March 31, the bank statement lists $33 interest earned on Business Solutions’s checking account for the month of March. Santana has not yet…
