Cardinal Company gathered the following reconciling information in preparing its March bank reconciliation:| Description | Amount ||--------------------------------------------------------|---------|| Cash balance per books, 3/31 | $17,600 || Deposits in transit | $4,800 || Notes receivable and interest collected by bank | $5,920 || Bank service fee | $400 || Outstanding checks | $9,600 || NSF check returned by bank | $700 |The adjusted cash balance per books on March 31 is:- ○ $22,420- ○ $23,520- ○ $22,200- ○ $24,440

Bank reconciliation statement is prepared to equate the balance per book and the balance per bank…

Cardinal Company gathered the following reconciling information in preparing its March bank reconciliation: Cash balance per books, 3/31 Deposits in transit Notes receivable and interest collected by bank $17,600 4,800 5,920 Bank service fee Outstanding checks NSF check returned by bank The adjusted cash balance per books on March 31 is: $22,420 $23,520 $22,200 400 9,600 700

Cardinal Company gathered the following reconciling information in preparing its March bank reconciliation: Cash balance per books, 3/31 Deposits in transit Notes receivable and interest collected by bank $17,600 4,800 5,920 Bank service fee Outstanding checks NSF check returned by bank The adjusted cash balance per books on March 31 is: $22,420 $23,520 $22,200 400 9,600 700

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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Dobson Corporation gathered the following reconciling information in preparing its September bank reconciliation: Cash balance per books, September 30 $11,000 Note receivable collected by bank 6,000 Outstanding cheques 9,000 Deposits in transit 4,500 Bank service charge 75 NSF cheque 1,200 The adjusted cash balance per bank at September 30 is Question 6 options: $15,500. $6,500. $9,725. $1,775.
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The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Current Balance Credits $11,905 $14,008 Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Deposits and Credits Daily Balance Date No. 2874 2906 2905 2909 2908 Amount 1,210 3,850 170 725 1,350 500 NSF Amount 4,340 7,270 Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 Date 03/02 03/01 03/02 03/27 03/31 295 IN 03/03 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. 13,713 14,008 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 CashAcct. No. 101 Date…
Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31. Cash balance per books, 5/31 $5,400 Deposits in transit 375 Notes receivable and interest collected by bank 650 Bank charge for check printing 40 Outstanding checks 2,400 NSF check 140
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation. Cash balance per company records, September 30 $2,607 Deposits in transit 474 816 21 Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check Determine the adjusted balance on September 30. a. $2,156 b. $1,501 Oc. $3,262 Od. $2,296 1,580 140
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Pharoah Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $21800 Deposits in transit 3000 Notes receivable and interest collected by bank 7340 Bank charge for check printing 250 Outstanding checks 14900 NSF check 1390 The adjusted cash balance per books on April 30 is a) $29140. b) $30280. c) $27500. d) $30500.
Jones Company collected the following information to prepare its May bank reconciliation: Cash balance per books, May 31 $5,300 Deposits in transit 510 Notes receivable with interest collected by bank 580 Bank service charges 30 Outstanding checks 180 NSF check 150 How much is the adjusted cash balance per books on May 31? $6,210 $5,700 $5,810 $5,660
Prepare a bank reconcilation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconcilation cleared the bank in July.
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Shown below is the bank reconciliation for Mat Company for November 20x7: Balance per bank, Nov 30, 20x7 P 300,000 Add: Deposits in transit 48,000 Total 348,000 Less: Outstanding checks P 56,000 Bank credit recorded in error 20,000 76,000 Cash balance per books, Nov 30, 20x7 P 272,000 The bank statement for December 20x7 contains the following data: Total deposits amounted to P220,000; Total charges (including an NSF check of P16,000 and a service charge of P800) amounted to P192,000 All outstanding checks on November 30, 20x7, including the bank credit, were cleared in the bank 1n December 20x7. There were outstanding checks of P60,000 and deposits in transit of P72,000 on December 31, 20x7. The adjusted cash in bank balance as of December 31, 20x7 is
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