Dec. 1Cash depositP 16,200451,200436,200426,700422,025471,025466,825480,825477,070381,070371,070273,070272,070273,620P 15,0009,5004,6751Check issued43294Check issued43424 Check issued43415 Check deposit6 Check issued8 Check deposit10 Check issued49,00043434,20014,00043443,75596,00010,00098,0001,00015 Encashment434622 Encashment435028 Encashment435129 Debit memo - BSC29 Credit memo - interest1,550Based on the above, answer the following questions:13. What is the total book receipts for December?14. What is the cash balance per books on December 31, 2020?15. What is the total outstanding checks on December 31, 2020?16. What is the adjusted cash balance on November 30, 2020?17. What is the adjusted cash balance on December 31, 2020? The following information pertains to Cuay Corporation, whose deposits in transit totaled P49,000at December 31, 2020:Cuay CorporationBANK RECONCILIATIONNovember 30, 2020P 435,000Balance per bank statementLess: Outstanding checksCheck No. 4321Check No. 4329Check No. 4340Check No. 4341P 6,00015,0001,7004,67527,375P 407,62516,200P 423,825TotalAdd: Deposits in transitBalance per booksCHECK REGISTERDecember 2020VouchersDatePayeeCheck No.DiscountCashDec. 1PayableP 10,000 PP 9,500San Beda, Inc.3 Miriam Corporation7 UE Enterprises12 PSBA Corporation15 Payroll16 BU, Inc.18 New Era Company21 UST, Inc.22 Petty cash fund28 Payroll434250043434,2003,75511,88096,0006,30014,0587,00010,00098,000P 261,455 P 762 P 260,6934,2003,75512,00096,0006,30014,2007,00010,00098,00043444345120434643474348142434943504351TotalBANK STATEMENTBANKABLE BANKPage 1 of 1PERIOD: November 30, 2020 to December 31, 2020No.: 001-43-44DateDescriptionCheck No.BalanceP 435,000451,200436,200426,700422,025471.025DebitCreditBalance last statementDec.1Cash depositP 16,200P 15,0009,5004,6751Check issued43294Check issued43424Check issued43415Check deposit49.000

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Dec. 1 Cash deposit P 16,200 1 Check issued Check issued Check issued 5 Check deposit 6 Check issued 8 Check deposit 10 Check issued 15 Encashment 22 Encashment 28 Encashment 29 Debit memo – BSC 29 Credit memo - interest 451,200 436,200 426,700 422,025 471,025 466,825 480,825 477,070 381,070 371,070 273,070 272,070 273,620 4329 4342 4341 P 15,000 9.500 4,675 4 4 49,000 4343 4,200 14,000 4344 3,755 96,000 10,000 98.000 1,000 4346 4350 4351 1,550 Based on the above, answer the following questions: 13. What is the total book receipts for December? 14. What is the cash balance per books on December 31, 2020? 15. What is the total outstanding checks on December 31, 2020?

Dec. 1 Cash deposit P 16,200 1 Check issued Check issued Check issued 5 Check deposit 6 Check issued 8 Check deposit 10 Check issued 15 Encashment 22 Encashment 28 Encashment 29 Debit memo – BSC 29 Credit memo - interest 451,200 436,200 426,700 422,025 471,025 466,825 480,825 477,070 381,070 371,070 273,070 272,070 273,620 4329 4342 4341 P 15,000 9.500 4,675 4 4 49,000 4343 4,200 14,000 4344 3,755 96,000 10,000 98.000 1,000 4346 4350 4351 1,550 Based on the above, answer the following questions: 13. What is the total book receipts for December? 14. What is the cash balance per books on December 31, 2020? 15. What is the total outstanding checks on December 31, 2020?

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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Checkbook balance:$1,792.50 Bank statement balance: $972.00 Checks outstanding (checks written which have not yet been cashed): Check No. 455 $50.00 Check No. 477 $88.00 Check No. 479$125.00 Deposits outstanding (deposits made but not yet recorded by the bank): 3/3$550.00 3/4$525.50 Bank service charge:$12.00 Interest earned on your account:$4.00 You have recorded all deposits in your checkbook. RECONCILIATION FORM Balance from bank statement $ Balance from checkbook $ Add outstanding deposits $ $ Add deposits not recorded $ Total outstanding deposits $ Total deposits not recorded $ Subtotal $ Subtotal $ Deduct outstanding checks $ $ $ Deduct bank fees $ Total outstanding checks $ Balance less fees $ Add interest earned $ Adjusted bank balance $ Adjusted checkbook balance $
Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 340 May 4 #2 $ 45 $ 85 380 May 12 #4 135 NSF check $ 85 160 May 28 #5 55 105 May 30 #6 50 340 395 May 31 #8 90 Service charge 40 265 Cash (A) Debit Credit May 1 340 May 3 85 45 May 3 #2 105 May 4 #3 135 May 8 #4 55 May 11 #5 50 May 21 #6 May 29 340 60 May 29 #7 May 30 220 90 May 30 #8 May 31 445
A -1 Prepared by Reviewed by William, Inc. Bank Confirmation - General Account December 31, 2022 Balance per Bank at December 31, 2022 $20,200.22 * Deposit in Transit - per A-1-2 2,000.00 # Outstanding Checks - per A-1-3 (5,200.00) Other - Note Collected by Bank (10,000.00) ^ Bank Service Charge (9.50) Balance per Books at December 31, 2022 $8,990.72 * f f Column footed. ^ Amount agrees to amount recorded as a deposit on the bank statement and description agrees with receipt enclosed with 12/31/22 bank statement. This note is the Kristopher note receivable that was recorded as a receipt by the client in the cash receipts journal on January 3, 2023. The receivable was appropriately credited and properly reflected in the January cash receipts journal. No adjustment needed as bank and books simply record this in different periods. #Agreed to December 31,…
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
M5-12 Preparing a Bank Reconciliation (LO 5-4) Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Deposits Date Checks Other Balance May 1 4 2 $ 2s 12 4 115 $ 65 NSF check $260 300 120 $65 28 5 30 46 May 31 8 35 30 85 315 260 70 Service charge 20 225 May 1 May 3 Cash (A) 260 65 25 85 115 35 30 40 May 3 2 May 4 3 May 4 May 11 5 May 21 6 May 29 7 May 30 8 May 29 May 30 May 31 260 180 70 365 Bank Reconciliation May 31 Bank Statement Company's Books Ending Balance per Bank Statement Additions: 365 Ending Balance per Cash Account Additions: Deposit in Transit EFT Payment 365 Deductions: Deductions: Up-to-Date Cash Balance 365 Up-to-Date Cash Balance
Required information Problem 8-4A Preparing a bank reconciliation and recording adjustments LO P3 Skip to question [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31. On July 31, the company’s Cash account has a $25,100 debit balance, but its July bank statement shows a $27,683 cash balance. Check No. 3031 for $1,600, Check No. 3065 for $576, and Check No. 3069 for $2,368 are outstanding checks as of July 31. Check No. 3056 for July rent expense was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,240. The July bank statement shows the bank collected $9,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet…
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
Calculator chapter 8 eBook The following June 30 bank reconciliation was prepared for Poway Co. Poway Co. Bank Reconciliation For the Month Ended June 30 $16,185 Cash balance according to bank statement Add outstanding checks: $575 No. 1067 470 1106 1.050 1110 910 3,005 1113 $19,190 6,600 Deduct deposit of June 30, not recorded by bank 512,590 Adjusted balance $8,985 Cash balance according to company's records Addı Proceeds of note collected by banki Principal $6,000 Interest 300 $6,300 Service charges 15 6,315 $15.300 0685 5,400 Deduct: Check returned because of Insufficient funds Error in recording June 17 deposit of S7.150 as 31,750 6,290 s 9,010 Adjusted belance a. Identfy the errors in the above bank reconci lation. Check My Work Assignment Score: 45.08% Type here to search
Required information Problem 6-4A (Algo) Preparing a bank reconciliation and recording entries LO P3 [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,640 debit balance, but its July bank statement shows a $28,276 cash balance. b. Check Number 3031 for $1,620, Check Number 3065 for $586, and Check Number 3069 for $2,388 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $7,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet…
Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 # 380 # 381 # 382 Adjusted balance per bank, November 30 Balance, December 1 $3,625 Receipts 42,650 Disbursements (41,853) Balance, December 31 $ 4,422 $ 3,231 1,200 The company's general ledger checking account showed the following for December: Balance, December 1 $3,231 Deposits 43,000 Checks processed (41,918) Service charges NSF checks $ 123 201 56 86 340 (806) (22) (440) Balance, December 31 $ 3,851 $ 3,625 The December bank statement contained the following information: The checks that were processed by the bank in December include all of the outstanding checks at the end of November except for check #365. In addition, there are some December checks that had not been processed by the bank by the end of the month. Also, you discover that check #411 for $320 was correctly recorded by the bank but was incorrectly recorded on the books as a $230 disbursement for advertising expense. Included…
Match each item to a bank statement adjustment, a company books adjustment, or either. Question 8 options: NSF check Bank charges Outstanding checks Error in recording a check Interest revenue Deposit in transit Note collected by the bank 1. bank statement adjustment 2. company books adjustment 3. either
QUESTION 12 Brown Company's bank statement for September 30 showed: 6 poinis Bank statement balance Book balance of cash $2.790 $3.724 The following information was also available as of September 30: a. A customer's check for $150 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $10 processing fee. b. The September 30 cash receipts, $3,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. C. Outstanding checks amounted to $2,190. d. A check for rent expense was written for $326 but by mistake was recorded in the accounting records as $362. Required: Prepare bank reconciliation as of September 30.