Bank StatementCheques/ChargesDeposits/Credits31-Маy|Balance12.192.926/1 9.050.00 20677.92#8846/1565.00#8836/42.390.0018.287.92#8766/9226.006/9 6.280.024.341.92#8896/121,248.0023.093.92#8826/14659.0022.434.92#8876/182,003.786/18 1,920.0022.35114#8856/20424.0021 92714#8916/216,569.0015,358.14#8866/29352.0015 006.14SC6/3089.306/3014.916.84Notes: Cheque #887 was recorded incorrectly by the bookeeper for equipmentpurchase. Cheque #891 was recorded incorrectly by the bank.Prepare the bank reconciliation at June 30, 2020. The bank statement and relevant portions of Bernie Company's cash records for the month ended June 30, 2020 are given below.Bernie CompanyCheque RegisterExplanation31-May Deposit1-Jun Cheque1-Jun Cheque1-Jun Cheque1-Jun Cheque3-Jun Cheque4-Jun Cheque9-Jun Deposit12-Jun Cheque12-Jun Cheque12-Jun Cheque18-Jun Deposit20-Jun Cheque21-Jun Cheque24-Jun Cheque26-Jun ChequeDateDebitCreditBalance-21,242,9220.583.9220,357.9217,967.9237,402.92424.00 E16,978.9216,626.9222,906.9220,793.149.050.00882659.00226.002,390.00565.00876883884885886352.006,280.008872,113.7818,623.7117,375.7119,295.7116,926.7110,257.718,805.712,169.431,248.008888891,920.008902,369.008916,669.008928931,452.00256.008,549.713,695.0012,244.729-Jun Deposit

Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Answered: Bank Statement Cheques/Charges…

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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Find the current balance for the account. Balance from Bank Statement Outstanding Checks Deposits Not Yet Recorded $4895.48 $94.87 $528.01 $347.89 $801.45 $475.69 ..... The current balance is $
39. How much is the adjusted Bank / Book receipts as of December 31, 2021?
Questions and Bank Reconciliation Problem Question 26 of 27 50 / 100 View Policies Show Attempt History Current Attempt in Progress The following information pertains to Concord Corporation. 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. The bank collected $1,166 in July for Concord through electronic funds transfer. The collection has not been recorded by Concord. 6. Outstanding checks, July 31, $600. (a) Your answer is correct. Drena o o rOcenciliotionat luly 21 (List itoms th ease coch halance fret Docencile ca halo II
PA 11. LO 8.6 Inner Resources Company received the following bank statement. Using the information from Exercise 8.5 and Exercise 8.6, prepare the bank reconciliation. Beginning Balance Bank Statement $0 AD A. D. Deposits $8,500 1,200 Checks 101 $ 650 102 550 103 180 106 457 Bank service charges 100 Total 9,700 1,937 Ending Balance $7,763 PA 12. LO 8.6 Prepare the journal entry required to reconcile the book balance to the bank balance.
4
P8-6B Betterdorf Company's bank statement from the National Bank at August 31, 2003, shows the following information: Balance, August 1 August deposits Cheques cleared in August Bank credit memorandum: Collection of note receivable, $5,000 $17,400 72,000 69,660 plus $90 interest 5,090 Other interest earned 45 Bank debit memorandum: Safety deposit box rent Balance, August 31 25 24,850 A summary of the Cash account in the ledger for August shows the following: Balance, August 1, $16,900; cash receipts $77,000; cash disbursements $73,570. An analysis reveals that the only rec- onciling items on the July 31 bank reconciliation were a deposit in transit for $4,000 and outstand- ing cheques of $4,500. The deposit in transit was the first deposit recorded by the bank in August. In addition, you determine that there were two errors involving company cheques drawn in August: (1) A cheque for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. (2) A…
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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
MC50 The following bank reconciliation is presented for the Pony Co. for the month of November, 2020: Balance per bank statement, 11/30/2020 P180,400 Add: Deposit in transit P41,500 Erroneous bank charge 15,500 56,500 Subtotal P236,900 Less: Outstanding Checks 78,200 Balance per books, 11/30/2020 P158,700 Data for the month of December 2020 follow: Per bank: December deposits/credits — P261,000 December charges/debits — P224,200 Balance, December 31, 2020 — P217,200 All items that were outstanding as of November 30 cleared through the bank in December, including the bank charge. In addition, P25,000 checks were outstanding as of December 31, 2020. What is the amount of cash receipts per books in December 2020? (WITH SOLUTION) a. P204,500 b. P219,500 c. P246,000 d. P317,500
QUESTION 21 In preparing its bank reconciliation for the month of April 2021, Delano, Inc. has available the following information. Balance per bank statement, 4/30/21 NSF check returned with 4/30/21 bank statement $78,600 940 Deposits in transit, 4/30/21 Outstanding checks, 4/30/21 Bank service charges for April 10,000 10,400 60 What should be the adjusted cash balance at April 30, 2021? $77,600. O $77,260. $78,020. $78,200.

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