Cash in hand Cash at bank Capital Drawings Motor vehicles Trade receivables RM 400 Trade payables 6,800 Sales 18,000 Purchases 300 Returns Outwards 8,500 Wages 2,100 Rent & rates RM 5,425 12,400 9.400 275 5,000 3,600 1)Prepare Trial balance

Cash in hand Cash at bank Capital Drawings Motor vehicles Trade receivables RM 400 Trade payables 6,800 Sales 18,000 Purchases 300 Returns Outwards 8,500 Wages 2,100 Rent & rates RM 5,425 12,400 9.400 275 5,000 3,600 1)Prepare Trial 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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Reporting Cash Tina Company has the following items at year-end. Currency and coin in safe. $4,100 Funds in savings account (requires $2,500 compensating balance) 26,540 Funds in checking account 6,750 Traveler’s checks 625 Postdated check 1,250 Not-sufficient-funds check 1,880 Money market fund 35,100 RequiredIdentify the amount of the above items that should be reported as cash and cash equivalents on Tina Company’s balance sheet. Cash and Cash Equivalents = $Answer
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
Bank reconciliation: Current book balance: $19,250 Balance per bank statement: $15,000 Outstanding checks: $2,000 Bank fees: $250 Deposits in transit: $6,000 What is the reconciled cash amount?
Exercise 4-9 (Algo) Calculate the balance of cash using a bank reconciliation (LO4-5) Jackman Company's general ledger shows a cash account balance of $23,400 on July 31, 2024. Cash sales of $1,893 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $37 and an NSF check from a customer of $420. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,620. The bank statement shows a balance of $22,670 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Per bank statement…
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
1 2 3 A co 4 567 8 9 10 11 DATE GENERAL JOURNAL DESCRIPTION 20-- May 16 Accounts Payable-Sunshine Suppliers Cash in Bank Check 111 20 Cash in Bank 23 Advertising Expense Cash in Bank Check 112 Accounts Rec.-Tim McGraw, Inc. Receipt 54 POST. REF. DEBIT 79500 52500 65.00 PAGE CREDIT 3 79500 52 500 6500 IN 2 3 4 5 6 7 co loo 9 10 11 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Problem 1 Using the following information, calculate the amount that would be included in Cash and Cash Equivalents on the Waywest Hotel balance sheet at December 31, 20X4. Signed credit card slips - Diner Club Time Deposit Money orders Receivable from Bob Golden $ $ $ S Petty cash Signed credit card slips - Visa $ Shares of stock in Motors International $ Certificates of deposit SA 250 3,256 350 200 100 480 1,000 2,000
1 Find the new balance, assuming that the bank charges 2-% per month on the unpaid balance. 2 Previous New Balance Payment Purchases $592.88 $81.26 A. $575.61 B. $572.61 C. $576.51 O D. $574.41 $50.00
Please reconcile The Hylton Enterprise Company bank statement to the cash book as of August 31, 2022. 1. Balance per cash book is $10,500 2. Balance per bank statement is 15,600 3. Bank charges recorded in bank but not In cash book is $115. 4. Checks issued but not yet cashed at the bank is $45,800 5. Deposit in Transit is $58,700 6. Proceeds from the closure of an Investment account is $26,700. plus Interest revenue of 1,500 7. Customer check was returned as Non-Sufficient Fund for $10,085.
nta 22 Coronado has the following assets at December 31, 2019. Cash in bank-savings account 134,000 Certificates of deposit (270-day) 226,000 sponder a como Cash on hand 1,600 Postdated checks 6,000 Cash refund due from State Taxing Authority 32,100 Checking account balance 12,000 What amount should be reported as cash? arcar nta O a. 135,600 O b. 134,000 O c. 179,700 O d. 147,600 pe here to search
The December bank statement and cash T-account for Stewart Company follow: 55 December 1 December 1 December 6 December 11 December 17 December 23 December 26 December 30 December 31 December 31 NSF check from J. Left, a customer. Deposits December 11 Checks December 23 December 30 December 31 $ 7,540 9,900 13,600 Balance December 31 Balance BANK STATEMENT Deposits $ 27,000 34,000 18,000 Cash (A) 38,400 27,000 34,000 18,000 11,000 90,950 Other 3. Prepare a bank reconciliation for December. NSF* Interest earned Service charge Credit elow.] Checks written during December: 7,540 470 9,900 13,600 5,400 $ 220 There were no deposits in transit or outstanding checks at November 30. Balance $ 38,400 30,860 57,390 47,490 81,490 81,020 85,200 85,230 85,160
Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 36,000 December 6 $ 7,520 28,480 55,030 December 11 450 $ 27,000 December 17 8,900 46,130 December 23 34,000 80,130 December 26 450 79,680 December 30 12,200 18,000 NSF* $ 200 85,280 December 31 Interest earned 20 85,300 December 31 Service charge 50 85,250 NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 36,000 Checks written during Deposits December: December 11 27,000 7,520 December 23 34,000 450 December 30 18,000 8,900 December 31 11,000 450 50 12,200 5,700 December 31 Balance 90,730 There were no deposits in transit or outstanding checks at November 30.