Required: You will complete the Bank Reconciliation below by filling in the blanks with the amount of the reconciling items - to be encoded as whole numbers, NOcomma, NO Peso sign; if the amount is to be deducted, enclose it in parenthesis. Encode the number 0 if the amount is zero.(1)Unadjusted balance per Book(2)Bank credit memo(3)NSF check(4)Erroneous posting of deposit(5)Bank service charge(6)Interest income(7)Adjusted balance per bookUnadjusted balance per bank92883(8)Deposit in transit(9)Outstanding checks(10)Adjusted balance per bank Ms. Arzel opened the The Baker's Box with cash investment of P200,000 on July 06, 2020. She opened a Checking Account with initial deposit of P65,000 at BDO.At the end of July 31, the ending balance of the account is P88,945.On Sept. 07, Ms. Arzel received the bank statement for the month of August. Below is a copy of the bank statement and the records of The Baker's Box of theChecking Account No. 88888.BDO Bank StatementCustomer: The Baker's BoxAddress: DasmarinasAccount No.: 88888Period: August 01 - 31, 2020Date Check No. Amount DepositBalance1-Aug Balance2-Aug88,94588,54588,200522400The Baker's Box2-Aug523345Per General Ledger:3-Aug5-Aug6-Aug2,87491,074Cash in Bank, Account No. 8888852615,7887,93275,286Beg. balance3-Aug10-Aug52867,35488,9452-Aug 5224002-Aug 5233-Aug 5243-Aug 5253-Aug 526 15,7885-Aug 5275-Aug 5285-Aug 5295-Aug 5305-Aug 53114-Aug 53214-Aug 53321-Aug 53421-Aug 53528-Aug 53628-Aug 53728-Aug 5382,87434510-Aug11-Aug8,63675,9904,220 DC80,2108,6365,32112-Aug6,32086,5302,39912-Aug14-Aug17-Aug6,32014-Aug5293,30783,2234,94614-Aug14-Aug14-Aug14-Aug17-AugNSF1,45581,76810,5684,0324,94686,71421-Aug5,7905,87612,39012,7327,9325305,81280,90228-Aug3,3075317,82173,08128-Aug31-Aug5,81210,65883,7397,82120-Aug21-Aug21-Aug5331,88881,8513,94080,28286,0725341,5695,7901,88825-Aug5274,03282,0401,56926-Aug28-Aug31-Aug31-Aug5245,32176,7193,80018,26694,9854,0325382,10092,8855,992148 Int93,0332,10031-AugSC15092,883

The bank reconciliation statement adjust the balances of cash book and pass book with various…

BDO Bank Statement Account No.: 88888 Period: August 01 - 31, 2020 Customer: The Baker's Box Address: Dasmarinas Date Check No. Amount Deposit Balance 1-Aug Balance 2-Aug 2-Aug 3-Aug 5-Aug 6-Aug 88,945 88,545 88,200 522 400 The Baker's Box 523 345 Per General Ledger: 2,874 91,074 Cash in Bank, Account No. 88888 526 15,788 75,286 Beg. balance 3-Aug 2-Aug 522 2-Aug 523 3-Aug 524 3-Aug 525 3-Aug 526 15,788 5-Aug 527 5-Aug 528 5-Aug 529 5-Aug 530 5-Aug 531 14-Aug 532 14-Aug 533 21-Aug 534 21-Aug 535 28-Aug 536 28-Aug 537 28-Aug 538 7,932 88,945 400 528 67,354 2,874 345 10-Aug 11-Aug 12-Aug 8,636 75,990 80,210 10-Aug 12-Aug 14-Aug 8,636 6,320 4,946 4,220 DC 5,321 6,320 86,530 2,399 14-Aug 529 3,307 83,223 14-Aug NSF 1,455 81,768 17-Aug 21-Aug 28-Aug 28-Aug 31-Aug 10,568 5,790 4,032 7,932 14-Aug 14-Aug 14-Aug 17-Aug 20-Aug 21-Aug 21-Aug 4,946 86,714 80,902 73,081 530 5,812 7,821 5,876 3,307 531 12,390 5,812 7,821 10,658 83,739 533 1,888 81,851 12,732 534 1,569 80,282 3,940 5,790 86,072 1,888 25-Aug 4,032 82,040 76,719 527 1,569 26-Aug 28-Aug 31-Aug 31-Aug 524 5,321 3,800 4,032 18,266 94,985 538 2,100 92,885 5,992 148 Int 93,033 2,100 31-Aug SC 150 92,883

BDO Bank Statement Account No.: 88888 Period: August 01 - 31, 2020 Customer: The Baker's Box Address: Dasmarinas Date Check No. Amount Deposit Balance 1-Aug Balance 2-Aug 2-Aug 3-Aug 5-Aug 6-Aug 88,945 88,545 88,200 522 400 The Baker's Box 523 345 Per General Ledger: 2,874 91,074 Cash in Bank, Account No. 88888 526 15,788 75,286 Beg. balance 3-Aug 2-Aug 522 2-Aug 523 3-Aug 524 3-Aug 525 3-Aug 526 15,788 5-Aug 527 5-Aug 528 5-Aug 529 5-Aug 530 5-Aug 531 14-Aug 532 14-Aug 533 21-Aug 534 21-Aug 535 28-Aug 536 28-Aug 537 28-Aug 538 7,932 88,945 400 528 67,354 2,874 345 10-Aug 11-Aug 12-Aug 8,636 75,990 80,210 10-Aug 12-Aug 14-Aug 8,636 6,320 4,946 4,220 DC 5,321 6,320 86,530 2,399 14-Aug 529 3,307 83,223 14-Aug NSF 1,455 81,768 17-Aug 21-Aug 28-Aug 28-Aug 31-Aug 10,568 5,790 4,032 7,932 14-Aug 14-Aug 14-Aug 17-Aug 20-Aug 21-Aug 21-Aug 4,946 86,714 80,902 73,081 530 5,812 7,821 5,876 3,307 531 12,390 5,812 7,821 10,658 83,739 533 1,888 81,851 12,732 534 1,569 80,282 3,940 5,790 86,072 1,888 25-Aug 4,032 82,040 76,719 527 1,569 26-Aug 28-Aug 31-Aug 31-Aug 524 5,321 3,800 4,032 18,266 94,985 538 2,100 92,885 5,992 148 Int 93,033 2,100 31-Aug SC 150 92,883

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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Required information [The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available: 1. Deposit in transit: $2,400. 2. Credit memo in bank statement for interest earned in June: $30. 3. Outstanding check: $6,690. 4. Debit memo for service charge: $20. b. Record in general journal format the adjusting entries necessary to correct the unadjusted book balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Now, with Jacques’s latest bank statement and his check register or ledger in hand, you can examine the documents. Fourth State Bank of San Francisco, CA Statement of Account Jacques Smythe June 20XX 550 Angel Street San Francisco, CA Account 348596 Date Description Subtractions Additions Balance 6-01 Previous balance 1,446.50 6-01 Deposit 300.00 1,746.50 6-03 Check 300 700.00 1,046.50 6-04 Check 301 350.00 696.50 6-05 ATM withdrawal 25.00 671.50 6-05 Deposit 75.00 746.50 6-11 ATM withdrawal 35.15 711.35 6-15 Deposit 300.00 1,011.35 6-18 Check 302 210.00 801.35 6-21 ATM withdrawal 47.65 753.70 6-22 Deposit 105.00 858.70 6-24 Check 303 70.00 788.70 6-26 ATM withdrawal 50.00 738.70 Jacques’s Account Ledger Date Transaction Description Deposit Withdrawals Balance Jun-01 Deposit - Payroll $300.00 $1,746.50 Jun-03 Check 300 - Rent $700.00 1,046.50 Jun-04 Check 301 - Car payment…
Bank reconciliation: Current book balance: $19,250 Balance per bank statement: $15,000 Outstanding checks: $2,000 Bank fees: $250 Deposits in transit: $6,000 What is the reconciled cash amount?
A -1 Prepared by Reviewed by William, Inc. Bank Confirmation - General Account December 31, 2022 Balance per Bank at December 31, 2022 $20,200.22 * Deposit in Transit - per A-1-2 2,000.00 # Outstanding Checks - per A-1-3 (5,200.00) Other - Note Collected by Bank (10,000.00) ^ Bank Service Charge (9.50) Balance per Books at December 31, 2022 $8,990.72 * f f Column footed. ^ Amount agrees to amount recorded as a deposit on the bank statement and description agrees with receipt enclosed with 12/31/22 bank statement. This note is the Kristopher note receivable that was recorded as a receipt by the client in the cash receipts journal on January 3, 2023. The receivable was appropriately credited and properly reflected in the January cash receipts journal. No adjustment needed as bank and books simply record this in different periods. #Agreed to December 31,…
Exercise 1-12 Based on the following information, prepare a bank reconciliation statement for ROSAL COMPANY as of Dec. 31, 2019, Use the bank to book format. 1. Balance per bank statement, Dec. 31, 2019, P85,938.46. 2. Balance per books, Dec. 31, 2019, PSB,489.12. 3. Outstanding checks, Dec. 31, P31,108.42. 4. Receipts of Dec. 31, 2019 deposited Jan. 5, 2015, P5,317.20. S. Service charges for Nov. per bank DM of Dec. 15, 2019, P203.85 6. Proceeds of bank loan, Dec. 15, 2019, omitted from the company's books, P9,875.00. 7, Deposit of Dec. 23, 2019 omitted from the bank statement, P2,892.41. 8. Check of Rome Products Co., returned by the bank for lack of countersignature. No entry was made on the books to record the return, P417.50. 9. Error on bank statement in entering deposit of Dec, 16, 2019: Correct amount P3,182.40 Entered as 3,181.40 10. Check no. 3917 of Camila Company charged by bank in error to Rosal Company, P2,690.00. 11. Proceeds of Natalia Company note, collected by bank on…
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
Using the following information: The bank statement balance is $5,175. The cash account balance is $5,503. Outstanding checks amounted to $712. Deposits in transit are $998. The bank service charge is $33. A check for $76 for supplies was recorded as $67 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
This information relates to the Cash account for Cullumber Company. Balance September 1-$17,090; Cash deposited-$64,000 Balance September 30-$18,290; Checks written-$62,800 The September bank statement shows a balance of $17,190 at September 30 and the following memoranda. Credits Collection of electronic funds transfer Interest earned on checking account $1,990 50 Debits NSF check: H. Kane Safety deposit box rent $720 65 At September 30, deposits in transit were $4,903 and outstanding checks totaled $2,548.
a. The bank statement balance is $3,240. b. The cash account balance is $3,407. c. Outstanding checks amounted to $736. d. Deposits in transit are $698. e. The bank service charge is $196. f. A check for $32 for supplies was recorded as $23 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance 000 00
QUESTION 9 The Gatedown Company's bank statement has an ending cash balance of $14,110.00. The cash account in the general ledger has a balance of $12,477.00. Based on the following reconciling items, prepare a bank reconciliation. a) Bank service charge of $20.00 b) Deposit in transit $3,190.00 c) A check was returned NSF $645.00 d) Outstanding check $688.00 e) Note collected by the bank, credit memoranda, $4,800.00 What is the total of subtractions to arrive at the book balance? A) 645.00 B) 555.00
Bank Reconciliation and Adjusting Entries (Appendix 6.1) Instructions Chart of Accounts Labels and Amount Descriptions Bank Reconciliation General Journal X Instructions Odum Corporation’s cash account showed a balance of $17,200 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,916.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $180.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $950.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March…
Brown Company's bank statement for September 30 showed: Bank statement balance Book balance of cash $2,790 $3,724 The following information was also available as of September 30: a. A customer's check for $150 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $10 processing fee b. The September 30 cash receipts, $3,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the Septemt bank statement. c. Outstanding checks amounted to $2, 190. d. A check for rent expense was written for $326 but by mistake was recorded in the accounting records as $362.