I want help to solve this accounting question Cara Trust Bank's financial records include abeginning cash balance of $128,000. During theperiod, deposits totaling $15,400 wereoutstanding, while checks amounting to $12,800were still unpaid. Additionally, the bank applied aservice charge of $180. Determine the adjustedbank balance based on these figures.

Explanation of Beginning Cash Balance: Beginning cash balance is the amount of money a bank account…

Answered: Cara Trust Bank's financial records…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 3E

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The bank reconciliation revealed that one deposit had cleared the bank two weeks after the date of the deposit. Should this be of concern? Why, or why not?
The Cash account of ReeseCorporation had a balance of $3,540 at October 31, 2018. Included were outstanding checkstotaling $1,800 and an October 31 deposit of $300 that did not appear on the bank statement.The bank statement, which came from Turnstone State Bank, listed an October 31 balance of$5,570. Included in the bank balance was an October 30 collection of $600 on account froma customer who pays the bank directly. The bank statement also showed a $30 service charge,$10 of interest revenue that Reese earned on its bank balance, and an NSF check for $50.Prepare a bank reconciliation to determine how much cash Reese actually had at October 31.
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Shan Enterprises received a bank statement listing its May 31, 2018, bank balance as $47,582. Shan determinedthat as of May 31 it had cash receipts of $2,500 that were not yet deposited and checks outstanding of $7,224.Calculate Shan’s correct May 31, 2018, cash balance.
The Cash account of Rettell Corporation had a balance of $3,570 at October 31, 2021. Included were outstanding checks totaling $1,800 and an October 31 deposit of $300 that did not appear on the bank statement. The bank statement, which came from Parway State Bank, listed an October 31 balance of $5,540. Included in the bank balance was an October 30 collection of $529 on account from a customer who pays the bank directly. The bank statement also showed a $34 service charge, $15 of interest revenue that Rettell earned on its bank balance, and an NSF check for $40. Prepare a bank reconciliation to determine how much cash Rettell actually had at October 31.
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The Cash account of Reese Corporation had a balance of $3,540 at October 31, 2018. Included were outstanding checks totaling $1,800 and an October 31 deposit of $300 that did not appear on the bank statement. The bank statement, which came from Turnstone State Bank, listed an October 31 balance of $5,570. Included in the bank balance was an October 30 collection of $600 on account from a customer who pays the bank directly. The bank statement also showed a $30 service charge, $10 of interest revenue that Reese earned on its bank balance, and an NSF check for $50. Read the requirement. Prepare a bank reconciliation to determine how much cash Reese actually had at October 31. (Indlude the balances at October 31 in each of the addition subtotal calculations.) Reese Corp. Bank Reconcillation October 31, 2018 Bank Books Balance, October 31 Balance, October 31 Add: Add: Subtotal Subtotal Less: Less: Adjusted bank balance Adjusted book balance Reese has cash of at October 31.
The Cash account of Reese Corporation had a balance of $3,540 at October 31, 2018. Included were outstanding checks totaling $1,800 and an October 31 deposit of $300 that did not appear on the bank statement. The bank statement, which came from Turnstone State Bank, listed an October 31 balance of $5,570. Included in the bank balance was an October 30 collection of $600 on account from a customer who pays the bank directly. The bank statement also showed a $30 service charge, $10 of interest revenue that Reese earned on its bank balance, and an NSF check for $50. Reese Corporation's bank reconciliation follows. Reese Corp. Bank Reconciliation October 31, 2018 Bank Books Balance, October 31 $5,570 Balance, October 31 $3,540 Add: Add: Deposit in transit 300 Bank collection 600 5,870 Interest revenue 10…
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