PLEASE SOLVE BOTH SOLUTION AND PLEASE DO NOT GIVE ANSWER IN HANDWRITTEN. Benson Plastics Company deposits all receipts and makes all payments by check. The followinginformation is available from the cash records:MARCH 31 BANK RECONCILIATIONBalance per bankAdd: Deposits in transitDeduct: Outstanding checksBalance per booksMonth of April ResultsBalance April 30April depositsApril checksApril note collected (not included in April deposits)April bank service chargeApril NSF check of a customer returned by the bank$26,7462,100(3.800)$25.046Per Bank$27,99510,78411,6003,00035Per book(b) Prepare Journal entry or entries to correct the cash account.$28,85513,88910,080-0--0-900-0-(a) Prepare a bank reconciliation going from balance per bank and balance per book tocorrect cash balance.

The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Benson Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books Balance April 30 April deposits April checks Month of April Results April note collected (not included in April deposits) April bank service charge April NSF check of a customer returned by the bank $26,746 2,100 (3.800) $25.046 Per Bank $27,995 10,784 11,600 3,000 35 Per book $28,855 13,889 10,080 -0- -0. 900 -0- (a) Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.

Benson Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books Balance April 30 April deposits April checks Month of April Results April note collected (not included in April deposits) April bank service charge April NSF check of a customer returned by the bank $26,746 2,100 (3.800) $25.046 Per Bank $27,995 10,784 11,600 3,000 35 Per book $28,855 13,889 10,080 -0- -0. 900 -0- (a) Prepare a bank reconciliation going from balance per bank and balance per book to correct cash 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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The account balances for the non-cash current assets and current liabilities of Kid - game Software Inc. are as follows: December 31 2023 2022 Accounts receivable $ 117,000 $92,500 Inventory 83,200 105,000 Prepaid expenses 49,400 42,500 Totals $ 249,600 $240,000 Accounts payable $ 75,000 $57,500 Salaries payable 22,500 32,500 Interest payable 42, 500 35,000 Totals $ 140,000 $125,000 During 2023, Kid - game Software Inc. reported depreciation expense of $47,000. All purchases and sales are on account. Profit for 2023 was $243,000. Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any deduction in cash and cash outflows as negative amounts.)
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