Cash balance per books, September 30$5,300Deposits in transit510Notes receivable with interest collected by bank580Bank service charges70Outstanding cheques1,800NSF cheque150The adjusted cash balance per books on September 30 isO 1) $5,700.00O 2) $5,660.0OO 3) $6,210.00O 4) $5,810.0O

Introduction:- Bank reconciliation is the process of comparing accounting records to a bank…

Cash balance per books, September 30 $5,300 eposits in transit 510 lotes receivable with interest collected by bank 580 ank service charges 70 Dutstanding cheques 1,800 ISF cheque 150 The adjusted cash balance per books on September 30 is D1) $5,700.00 D 2) $5,660.00 D 3) $6,210.00 4) $5 81000

Cash balance per books, September 30 $5,300 eposits in transit 510 lotes receivable with interest collected by bank 580 ank service charges 70 Dutstanding cheques 1,800 ISF cheque 150 The adjusted cash balance per books on September 30 is D1) $5,700.00 D 2) $5,660.00 D 3) $6,210.00 4) $5 81000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 6EA: The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes...

See similar textbooks

Similar questions

The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Prepare the correcting journal entry.
Accounts Receivable Balance XYZ Corp sells widgets to consumers for $20 each. Its beginning accounts receivable balance was $24,975, and it sold 12,376 widgets throughout the year. The total cash collections for the year amounted to $217,750. Required: Calculate the ending accounts receivable balance.
JOURNAL ENTRIES (NOTE ISSUED FOR BANK LOAN) Prepare general journal entries for the following transactions: Sept. 15 Borrowed 7,000 cash from the bank, giving a 60-day non- interest- bearing note. The note is discounted 8 % by the bank. Nov. 14 Paid the 7,000 note, recognizing the discount as interest expense.
25 )
Ans this question
Bank Reconciliation Statements lecture Homework #1 ZipFlyer Inc. 's cash T-Account for May shows the foliowing information: Cash Date Commenis Amount S13,846 1.550 2,700 Date Comments Amount Cheque 75 Cheque #76 Cheque 877 Cheque 78 Cheque #79 Cheque #80 Cheque #81 Cheque #82 Cheque #83 Cheque #84 Cheque #85 Cheque 486 Opening balance Deposit May ! May 3 May 1 May I May 3 May 15 May 21 Миу 31 5550 875 Deposit Deposit Deposit Deposit May 4 1,256 May 7 May 10 May 13 Миу 17 May 21 May 25 May 28 May 29 May 31 4.950 3.684 2.600 3,000 1,100 486 548 3,058 1,244 983 68 175 May 31 Ending Balance $14,619 The following comes from the company's April 2024 Bank Statement: Date Description Balance Forward Depasit Cheque #75 Depasit Cheque #77 NSF Cheque- W. White Cheque #76 Cheyue #78 Bank Collection Cheque #79 EFT - ltilities bill Deposit Cheque #80 Depasit EFT- Telephone Cheque #82 Cheque #83 Bank plan fee Withdrawals Deposits Balance $13846 15,396 14.846 17.546 16,290 15,690 April 30 Мay 2 May 3…
Prepare the necesarry adjusting journal entries
Balance, December 31, 2018 $3,340 ADD: Deposit in transit 100 3,440 LESS: Outstanding checks $400 400 Adjusted bank balance, December 31, 2018 $3,040 Book: Balance, December 31, 2018 $2,540 ADD: Bank collection $510 Interest revenue 20 530 3,070 LESS: Service charge $30 30 Adjusted book balance, December 31, 2018 $3,040
Urmilaben
Balance of cash in bank account 1,300,000Balance of bank statement 1,200,000Outstanding checks, August 31:Number 555 10,000761 55,000762 40,000763 25,000764 65,000765 70,000Receipts of August 31, deposited September 1 275,000The bank statement showed the following charges:a. Service charge for August 5,000b. NSF check received from a customer 85,000The cashier-bookkeeper had misappropriated 30,000 and an additional 10,000 by charging sales discounts and crediting accounts receivable.The stub for check number 765 and the invoice relating thereto show that it was for 50,000. The check was recorded incorrectly in the cash disbursements journal as 70,000. The check was drawn in payment of an account payable.Payment has been stopped on check number 555 which was drawn in payment of an account payable. The payee cannot be located.Required:a. Prepare a bank reconciliation on August 31 using the adjusted balance method.b. Prepare adjusting entries in the Susan Company book on August 31
The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance $ 48, 000 40, 380 67,830 53,930 ৪9,938 88,970 88,470 88,520 88,370 Dec. 1 $ 7,620 550 $28,000 13,900 6. 11 17 23 36, e00 26 960 30 19, 200 19,000 NSF* $300 31 Interest earned 50 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 23 48, 000 28, e0e 36, eee Checks written during December: 7,620 550 30 13,900 960 19, e00 31 13,e00 150 19, 200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. 3. Prepare a bank reconciliation for December. STEWART COMPANY Bank Reconciliation At December 31 Bank Statement Company's Books Ending Balance Per Bank Statement Ending Balance Per Cash Account Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance
QUESTION 8 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 7. An EFT payment made by a receivable for R4 300 on 31 October 20.19 appeared in the bank statement but not in the Balance per Cash Book R6 500 credit October Cash Book. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the R4 300 deposit (no. 7) must be recorded as follows: In the debit column of the Bank reconciliation statement as R4 300 O In the credit column of the Bank reconciliation statement as R4 300 Not recorded in the Bank account or the Bank reconciliation statement On the debit side of the Bank account as R4 300 On…