Brightstar, Inc., reported a balance of $200 in its cash account at the end of the month. There were $180 of deposits in transit and $150 of checks outstanding. The bank statement showed a balance of $210, service charges of $5, and the collection of a note plus interest. The note had a face value of $20. How much interest did the bank collect for the company?
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- How much interest did the bank collect for the company ?Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,450, outstanding checks of $3,900, an NSF check of $2,600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3,400. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)?Marlon, Inc. reported a balance of $143 in its cash account at the end of the month. There were $120 of deposits in transit and $115 of checks outstanding. The bank statement showed a balance of $150, service charges of $6, and the collection of a note plus interest. The note had a face value of $15. How much interest did the bank collect for the company? a. $18 b. $3 c. $24 d. $12
- Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $19,500. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,000, outstanding checks of $3,000, an NSF check of $1,700, bank service charges of $80 and the EFT from a customer in payment of the customer's account of $2,500. What is the up-to-date ending Cash balance? Multiple Choice $18,500 O $17,780 $20,500 $22,620COMPANY A, reported a balance of ₱ 45,000.00 in its Cash account at the end of the month. There were ₱ 20,000.00 deposits in transit and ₱ 15,000.00 outstanding checks. The bank statement showed a balance of ₱ 65,000.00 including a note with face value of ₱ 25,000.00 and a ₱ 5,000.00 service charge. How much is the interest on the note collected by the bank?On July 31, 2020, Concord Company had a cash balance per books of $6,043.75. The statement from Dakota State Bank on that date showed a balance of $7,738.05. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2. 3. 4. 5. 6. The bank service charge for July was $25. The bank collected $1,680 for Keeds Company through electronic funds transfer. The July 31 receipts of $1,225.50 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $361 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for $316. Checks outstanding on July 31 totaled $1,888.80. On July 31, the bank statement showed an NSF charge of $579 for a check received by the company from W. Krueger, a customer, on account.
- On July 31, 2020, Keeds Company had a cash balance per books of $6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $25. 2. The bank collected $1,520 for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $1,193.30 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 $384 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for $348. 5. Checks outstanding on July 31 totaled $1,860.10. 6. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from W. Krueger, a customer, on account. Instructions a. Prepare the bank reconciliation as of July 31. b. Prepare the necessary adjusting entries at…ABC Corp.'s cash account has a Cash Book balance of $1,200 as of December 31. The bank statement for this account shows a balance of $1,800 as of December 31. There are outstanding checks of $960 and a deposit in transit of $200. The bank statement shows interest earned of $40; a customer returned a check of $150, and service charges of $50. After preparing the bank reconciliation statement, the reconciled balance that will appear on the company’s balance sheet on December 31 is:.How much interest did the bank collect for the company ? General accounting
- On July 31, 2022, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that date showed a balance of $7,795.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $16.00. 2. The bank collected $1,625.00 from a customer for Crane Company through electronic funds transfer. 3. The July 31 receipts of $1,307.30 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 $284.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $245.00. 5. Checks outstanding on July 31 totaled $1,965.10. 6. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account. Prepare the necessary adjusting…On July 31, 2022, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that date showed a balance of $7,795.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $16.00. 2. The bank collected $1,625.00 from a customer for Crane Company through electronic funds transfer. 3. The July 31 receipts of $1,307.30 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 $284.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $245.00. 5. Checks outstanding on July 31 totaled $1,965.10. 6. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account. Prepare the bank reconciliation as…The cash account of Sheffield Co. showed a ledger balance of $7,088.13 on June 30, 2020. The bank statement as of that date showed a balance of $7,470. Upon comparing the statement with the cash records, the following facts were determined. 1. 2. 3. 4. 5. 6. 7. (a) There were bank service charges for June of $45. A bank memo stated that Bao Dai's note for $2,160 and interest of $64.80 had been collected on June 29, and the bank had made a charge of $9.90 on the collection. (No entry had been made on Sheffield's books when Bao Dai's note was sent to the bank for collection.) Receipts for June 30 for $6,102 were not deposited until July 2. Checks outstanding on June 30 totaled $3,844.89. The bank had charged the Sheffield Co.'s account for a customer's uncollectible check amounting to $455.76 on June 29. A customer's check for $162 (as payment on the customer's Accounts Receivable) had been entered as $108 in the cash receipts journal by Sheffield on June 15. Check no. 742 in the amount…
