Bank StatementDateCheck No.WithdrawalsDeposits90,000BalanceDec. 190,000103240049,10080,900203240014,50076,40053,9002232400622,5002745,00098,900299,000107,9002932400336,00071,9002927,000 См98,9001800 SC31CM - Credit MemoDM - Debit Memo97,100Legend:SC - Service ChargeRT - Returned Check Bank Reconciliation (Transactions are Presented Using Bank Statement and Ledger)Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank ReconciliationStatement. Use the space provided after the illustrations for your answer.Cash-in-bank (IPB Bank)1 Deposit12 Deposit23 Deposit27 Deposit90,00045,000Dec.Dec. 4 Check No.3240014,5006 Check No.32400213,5009,0008 Check No.32400336,0009 Check No.9,100324005 27,00072,00032400412 Check No.20 Check No.324006 22,50028 Check No.324007 45,000

Bank Statement Date Check No. Withdrawals Deposits 90,000 Balance 90,000 Dec. 1 10 324004 9,100 80,900 4,500 22,500 20 324001 76,400 22 324006 53,900 27 45,000 98,900 29 9,000 107,900 29 324003 36,000 71,900 27,000 CM 98,900 97,100 29 1800 SC 31 Legend: CM - Credit Memo SC - Service Charge RT - Returned Check DM - Debit Memo

Bank Statement Date Check No. Withdrawals Deposits 90,000 Balance 90,000 Dec. 1 10 324004 9,100 80,900 4,500 22,500 20 324001 76,400 22 324006 53,900 27 45,000 98,900 29 9,000 107,900 29 324003 36,000 71,900 27,000 CM 98,900 97,100 29 1800 SC 31 Legend: CM - Credit Memo SC - Service Charge RT - Returned Check DM - Debit Memo

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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ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 3 J60 3,816.00 3,816.00 Aug. 18 J60 4,589.80 fill in the blank 1 J60 105.00 fill in the blank 2 ACCOUNTS RECEIVABLE LEDGER NAME: S. Rottier ADDRESS: 1008 S. 9TH St, Monona, WI 53715 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 7 J60 1,484.00 1,484.00 Aug. 10 J60 400.00 fill in the blank 3 ACCOUNTS RECEIVABLE LEDGER NAME: L. Franklin ADDRESS: 2815 Main St, Cottage Grove, WI 53711 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 1 J60 1,272.00 1,272.00 Aug. 22 J60 2,120.00 fill in the blank 4 Using the information from the ledgers, prepare a schedule of accounts receivable as of August 31. If required, round your intermediate and final answers to the nearest cent. Willis Spas and PoolsSchedule of Accounts ReceivableAugust 31, 20-- E. McKenzie $fill…
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31.1.2020 XYZ Company withdrawn Cash RO. 4500 from the bank. Which of the following is the correct journal entry of the transaction? Select one: a. Accounts Debit Credit (RO) Date (RO) 31.1.2020 Cash 4500 Bank 4500 b. Date Accounts Debit Credit (RO) 31.1.2020 Drawings 4500 (RO) Cash 4500 С. Accounts Debit Credit (RO) Date (RO) 31.1.2020Withdrawal 4500 Bank 4500
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Probiem 9.4A (Static) Preparing a pank reconciliation statement ana journaiizing entries to aajust the cash balance. LO 9-5, 9-6 On August 31, 20X1, the balance in the checkbook and the Cash account of the Sonoma Creek Bed and Breakfast was $13,031. The balance shown on the bank statement on the same date was $13,997. Notes a. The firm's records indicate that a $1,600 deposit dated August 30 and a $601 deposit dated August 31 do not appear on the bank statement. b. A service charge of $28 and a debit memorandum of $230 covering an NSF check have not yet been entered in the firm's records. (The check was issued by Andy Stein, a credit customer.) c. The following checks were issued but have not yet been paid by the bank: $120 $130 $250 $577 $ 78 $120 Check 712, Check 713, Check 716, Check 736, Check 739, Check 741, d. A credit memorandum shows that the bank collected a $2,095 note receivable and interest of $55 for the firm. These amounts have not yet been entered in the firm's records.…
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Comprehensive Problem 3Part 3: Note: You must complete parts 1 and 2 before completing part 3 of this comprehensive problem. Based on the bank reconciliation prepared in (2), journalize the entry or entries to be made by Kornett Company. Use the Miscellaneous Administrative Expense account to record bank service charges. If an amount box does not require an entry, leave it blank. Date Description Debit Credit Dec. 31
2. DETAILS rise BRECMBC9 4.11.TB.011. On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. O $29.95 O $943.80 O $1,003.70 $1,108.88
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