Ben Luna received his bank statement with a $31.35 fee for a bounced-check (NSF). He has an $841.80 monthly mortgage payment paid through his bank. There was also a $3.35 teller fee and a check printing fee of $7.10. His ATM card fee was $8.50. There was also a $571.05 deposit in transit. The bank shows a balance of $268.33. The bank paid Ben $3.03 in interest. Ben's checkbook shows a balance of $1,535.60. Check Number 234 for $121.10 and check Number 235 for $71.75 were outstanding. Prepare Ben's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Ben's checkbook balance Add: Subtotal Deduct: Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Subtotal Deduct: Reconciled balance

Ben Luna received his bank statement with a $31.35 fee for a bounced-check (NSF). He has an $841.80 monthly mortgage payment paid through his bank. There was also a $3.35 teller fee and a check printing fee of $7.10. His ATM card fee was $8.50. There was also a $571.05 deposit in transit. The bank shows a balance of $268.33. The bank paid Ben $3.03 in interest. Ben's checkbook shows a balance of $1,535.60. Check Number 234 for $121.10 and check Number 235 for $71.75 were outstanding. Prepare Ben's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Ben's checkbook balance Add: Subtotal Deduct: Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Subtotal Deduct: Reconciled balance

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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Mr. P's bank statement dated 31.12.2021 showed a balance with his Bank of $924, when checked with his Cash Book the following were noted :(a) During December, the Bank had paid $200 for a yearly contribution of Mr. P made to a local charity, as per his standing order. This amount appeared in the Bank statement but not in the Cash Book.(b) The Bank had credited his account with $28 interest and had collected on his behalf `$230 as dividends. No corresponding entries were made in the Cash Book.(c) A cheque of $65 deposited into the Bank on 28.12.2021 was not cleared by the Bank till after 31.12.2021(d) A cheque of $150 deposited into and cleared by the Bank before 31.12.2021 was not entered in the Cash Book, through an oversight.(e) Cheques drawn by and posted to parties by Mr. White on 31.12.2021 for $73, $119 and $46 were presented for payment to the Bank only on 3.1.2021.
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On July 31, 2022, Carla Vista Co. had a cash balance per books of $6,335.00. The statement from Dakota State Bank on that date showed a balance of $7,885.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $19.00. 2. The bank collected $1,715.00 from a customer for Carla Vista Co. through electronic funds transfer. 3. The July 31 receipts of $1,394.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $347.00. 5. Checks outstanding on July 31 totaled $2,046.10. 6. On July 31, the bank statement showed an NSF charge of $770.00 for a check received by the company from W. Krueger, a customer, on account.…
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