Challenge Problems o Problem 12 The following information relates to the Clearwater Lake Restaurant checking account for the month of April: $3,735 3,528 256 Balance of cash per books, 4/30/20X4 Balance of cash per bank, 4/30/20X4 Outstanding checks as of 4/30/20X4 Bank service charges for April Deposit in transit at 4/30/20X4 NSF check returned with statement 12 422 38 Error in recording check # 1568- (Office Supplies) axx nda recorded as 98 should be 89 Required: Prepare a bank reconciliation for the restaurant for April 30, 20X4.

Challenge Problems o Problem 12 The following information relates to the Clearwater Lake Restaurant checking account for the month of April: $3,735 3,528 256 Balance of cash per books, 4/30/20X4 Balance of cash per bank, 4/30/20X4 Outstanding checks as of 4/30/20X4 Bank service charges for April Deposit in transit at 4/30/20X4 NSF check returned with statement 12 422 38 Error in recording check # 1568- (Office Supplies) axx nda recorded as 98 should be 89 Required: Prepare a bank reconciliation for the restaurant for April 30, 20X4.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

P12.9A (LO 2), AP Condensed financial data of Granger Inc. follow. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $26,030 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Instructions Prepare a statement of cash flows using the indirect method. Net cash provided-oper. act. $176,930 Prepare a statement of cash flows-direct method. Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Granger Inc. Comparative Balance Sheets December 31 Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total Sales revenue Less: Income tax expense Interest expense Loss on disposal of plant assets Net income 2022 $ 80,800 87,800 112,500 28,400 138,000 285,000 (50,000) $ 682,500 $ 102,000 16,500 110,000 Cost of goods sold Operating expenses,…
I need the answer as soon as possible
You went for a job interview as an accountant at PKP Bhd. During the interviewing session,you were asked with regards to your ability to do a reconciliation of the bank statement. Inconfirming your ability, the interviewer handed over the following information for 30 June2020:(i) The bank statement balance is RM14,070.(ii) The cash account balance is RM15,141.(iii) Outstanding checks amounted to RM2,145.(iv) Deposits in transit are RM3,060.(v) The bank service charge is RM120.(vi) A check for RM95 for supplies was recorded as RM59 in the ledger.REQUIRED:(a) Prepare the bank reconciliation statement of PKP Bhd for 30 June 2020.
Prepare Bryant's bank reconciliation at November 30. | E4-21 Tim Wong operates a FedEx Kinko's store. He has just received the monthly bank statement at May 31, 2020, from Royal Bank of Canada, and the statement shows an ending balance of $595. Listed on the statement are an EFT customer collection of $300, a service charge of $12, two NSF cheques totalling $120, and a $9 charge for printed cheques. In reviewing his cash records, Wong identifies outstanding cheques totalling $603 and a May 31 deposit in transit of $1,788. During May, he recorded a $290 cheque for the salary of a part-time employee as $29. Wong's Cash account shows a May 31 cash balance of $1,882. How much cash does Wong actually have at May 31?
prepare a bank reconciliation report.
All one question. Thank you for your help.
Excel Skills 7. Solve the follow sections: a. Complete the following spreadsheet, showing how much will be in your bank account if you deposit an initial deposit (cell B2) today and it draws annual interest given in cell B1. Interest 2 Initial deposit 3 4 5 6 7 A 8 9 10 Year " 0 1 23 4 5 B b. Graph the results of the bank account. 8% $155 In bank account.
You have been appointed as Davis college accountant and, the May 31 bank statement of Davis college has just arrived from bank of America. To prepare the bank reconciliation, you gather the following data:A. The May 31 bank balance is $ 19,209,820B. The bank statement includes two returned checks received from students as payment of tuition fees. One is a $67,500 NSF ( non sufficient fund) check received from Mr johnson and deposited on May 19. The other is $ 195,030 check received from Mr Jonathan and deposited on May 21 that was returned due to "unathorized signature".C. Davis college collects some operating funds from East&central-africa division (ECD) by EFT(electronic fund transfer). The May bank statement lists a $ 333,190 deposit for a collection from ECD that Davis college did not know until the bank statement of the month was received.D. The bank statement includes one special deposit of $ 916,000 interest revenue that Davis college earned on its bank balance during May.E.…
My text book is Hospitality Industry Financial Accounting (4th edition). I am in chapter 8 -- CASH now. There is a question asks for journalize all of the necessary transactions for July in chronological order. The scenario is the following: During July, several events occurred at the Flamingo Resort. a. On July 1, a Petty Cash Fund was established in the amount of $100. b. On July 15, the fund was replenished, since it had a balance of $4 with the following receipts: Postage $30 Office Supplies $25 Shipping Charges to UPS $40 c. On July 16, the fund was increased to $200. d. On July 31, the fund was replenished, since it had a balance of $12 with the following receipts: Spare Parts $35 Stamps $28 Shop Supplies $27 Inventory $100
Prepare a bank reconciliation statement
i need the answer quickly
Prepare a bank reconciliation statement