Bank reconciliation In preparing its bank reconciliation for the month of April 20XX, QRQ Inc. has the following information available. Balance per bank statement as of 4/30 = $102,420 NSF check (from customers) returned with 4/30 bank statement = $1,350 Deposits in transit as of 4/30 = $15,000 Outstanding checks as of 4/30 = $15,600 Bank serv ice charges for April if $60.00 What should be correct balance of cash at April 30, 20XX? Prepare Journal Entry (ies?) for QRQ

Bank reconciliation In preparing its bank reconciliation for the month of April 20XX, QRQ Inc. has the following information available. Balance per bank statement as of 4/30 = $102,420 NSF check (from customers) returned with 4/30 bank statement = $1,350 Deposits in transit as of 4/30 = $15,000 Outstanding checks as of 4/30 = $15,600 Bank serv ice charges for April if $60.00 What should be correct balance of cash at April 30, 20XX? Prepare Journal Entry (ies?) for QRQ

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

Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,337.11. The bank statement shows an ending balance of $2,136.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: An ATM withdrawal of $153.00 on November 18 by Lyle for personal use was not recorded on the books. A bank debit memo issued for an NSF check from a customer of $19.40. A bank credit memo issued for interest of $19.00 earned during the month. On November 30, a deposit of $1,201.00 was made, which is not shown on the bank statement. A bank debit memo issued for $18.00 for bank service charges. Checks No. 549, 561, and 562 for the amounts of $167.00, $23.00, and $9.60, respectively, were written during November but have not yet been received by the bank.…
Proof of Cash Problems 1. Lazer Company had the following bank reconciliation on June 30: Balance per bank statement, June 30 Deposit in transit Total Outstanding checks Balance per book, June 30 The bank statement for the month of July showed the following: The month Deposits, including P200,000 note collected for Lazer Disbursements, including P140,000 NSF customer check And P10,000 service charge P3,000,000 400,000 What is the cash balance per book on July 31? What is the amount of cash receipts per book in July ? What is the amount of cash disbursements per book in July? 3,400,000 (900,000) P2,500,000 P9,000,000 7,000,000 All reconciling items on June 30 cleared through the bank in July. The Outstanding checks totaled P600,000 and the deposit in transit amounted to P1,000,000 on July 31.
prepare a bank reconciliation report.
Prepare a bank reconciliation statement
answer quickly
Please solve the
BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Lyle's Salon as of Novemeber 30 is $3,282.95. The bank statement shows an ending balance of $2,127. By examining last month's bank in novemeber and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: a) An ATM withdrawl of $150 on November 18 by Lyle for personal use was not recorded in the books b) A bank debit memo issued for an NSF check from a customer of $19.50 c) A bank credit memo issued for interest of $19 earned during the month d) on November 30, A deposit of 1,177 was made which is not shown on the bank statement. e) A bank debit memo issued for $17.50 for bank service charges. f) checks No. 549,561 and 562 for the amounts of $185, $21 and $9.40, respectively, were written during november but have not yet been received by the bank. g) The reconciliation from the previous month showed outstanding checks totaling $271.95…
Prepare a bank reconciliation statement
3. Bank Reconciliation Barb Lee Inc. (BLI) is about to reconcile its bank statement for the month of May. Pertinent information follows: Bank statement balance $11,003.74. General ledger balance $8, 284.07. BLI mailed a deposit of $899.14 to the bank on May 28. The bank had not yet received it by month end. BLI issued cheques # 124 for $2,041.25; # 126 for $951.56; and #129 for $1,000 in May; however, these were not returned with the May 31 bank statement. BLI received notification that a cheque for $313 deposited to BLI's account was returned NSE. The bank levied a $32 returned cheque charge. The bank statement included a $29 service charge for the month.Required:a) Prepare the cash reconciliation for Barb Lee Inc. as at May 31. b) Prepare adjusting journal entries to correct for items noted in the cash reconciliations.
The folowing Information was gathered by Superior Landscaping in order to prepare its Bank Reconciliation at the end of October: Balance in Cash Ledger account at end of Oct 31 $4,450 Balance of Cash in Bank Statement at end of Oct 31 3,900 Electornic Funds Transfer deposited into your Bank account late Oct 31 600 Outstanding Cheques at end of Oct 31 1,200 Deposits in Transit 2,000 NSF cheque received from a customer 350 Prepare the October 31st Bank Reconciliation
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30:1. Balance per Cash account, June 30, $15,875.55.2. Balance per bank statement, June 30, $16,425.56.3. Deposits not reflected on bank statement, $1,631.25.4. Outstanding checks, June 30, $2,836.01.5. Service charge on bank statement not recorded in books, $24.75.6. Error by bank—Yertel Company check charged on Young Company’s bank statement, $1,237.50.7. Check for advertising expense, $562.50, incorrectly recorded in books as $1,170.00.
Please Need Correct answer