Chapter 6 show results for bank reconciliation March 31, 20--
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Chapter 6 show results for bank reconciliation March 31, 20--
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- Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,277.77. The bank statement shows an ending balance of $2,109.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, an noting the service charges and other debit and credit memos shown on the bank statement, the following were found: a. An ATM withdrawal of $150.00 on November 18 by Lyle for personal use was not recorded on the books. b. A bank debit memo issued for an NSF check from a customer of $19.20. c. A bank credit memo issued for interest of $20.00 earned during the month. d. On November 30, a deposit of $1,186.00 was made, which is not shown on the bank statement. e. A bank debit memo issued for $16.80 for bank service charges. f. Checks No. 549, 561, and 562 for the anounts of $181.00, $24.00, and $9.50, respectively, were written during November but have not yet been received…EA 7.LO 8.6Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35 EA 8.LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.7.#4 Bank Reconciliation Components Identify the requested amount in each of the following situations: a. Munster Company’s May 31 bank reconciliation shows deposits in transit of $1,400. The general ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation?b. Sanders Company’s August 31 bank reconciliation shows outstanding checks of $1,850. The general ledger Cash in Bank account shows total cash disbursements (all by check) during September of $49,800. The September bank statement shows $49,200 of checks clearing the bank. What amount of outstanding checks should appear in the September 30 bank reconciliation?c. Burkle Corporation’s March 31 bank reconciliation shows deposits in transit of $700. The general ledger Cash in Bank account shows total cash receipts during April of $41,000. The April bank…
- Instructions Turner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July: July 2 Established a petty cash fund by issuing Check No. 301 for $100. Paid $25 from the petty cash fund for postage. Voucher No. 1. 7 Paid $30 from the petty cash fund for delivery of flowers (Miscellaneous Expense). Voucher No. 2. 8 Paid $20 from the petty cash fund to repair a tire on the company truck. Voucher No. 3. 12 Paid $22 from the petty cash fund for a newspaper advertisement. Voucher No. 4. 13 Issued Check No. 303 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) 20 Paid $26 from the petty cash fund to reimburse an employee for expenses incurred to repair the company truck. Voucher No. 5. 24 Paid $12.50 from the petty cash fund for phone calls made from…EA 7.LO 8.6Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35Question 25 ) BRS
- Cop7LO 3Bank reconciliation Prepare a bank reconciliation as of October 31 from the following information:a. The October 31 cash balance in the general ledger is $1,688.b. The October 31 balance shown on the bank statement is $746.c. Checks issued but not returned with the bank statement were No. 462 for $26 and No. 483 for $100.d. A deposit made late on October 31 for $900 is included in the general ledger balance but not in the bank statement balance.e. Returned with the bank statement was a notice that a customer’s check for $150 that was deposited on October 25 had been returned because the customer’s account was overdrawn.f. During a review of the checks that were returned with the bank statement, it was noted that the amount of Check No. 471 was $64 but that in the company’s records supporting the general ledger balance, the check had been erroneously recorded as a payment of an account payable in the amount of $46.N3. Account
- nk.9 A check written correctly for $50 was recorded in the general ledger as $55. This would appear on a bank reconciliation as a(an) a)addition to the book balance. b)deduction from the book balance c)deduction from the bank balance. d)addition to the bank balance.Question 415 Using the following information, prepare the bank reconciliation for Powers Company for May 31, 2013. • • • • The bank statement balance is $4,000. The cash account balance is $3,000. Outstanding checks totaled $1,500. Deposits in transit are $500. The bank service charge is $20. Interest reported on the bank statement was $10. A check for $10 was recorded as $100 in the ledger. An NSF check for $80 was returned with the statement.Bank Reconciliation Arthur's mens shop November 30, 20 --
