11dividend earned should be appear in bank reconciliation in:The following information for Dana Est.is shown on Aug 31, 2020:BDCash per booksBalance per bank statement37003800Unpresented checksDeposits not entered by the bankDividend received by the bank not entered in cash bookBank charges not entered in books150125020050NSF checks250Collection of notes receivable by the bank not entered in cash book1300Add BD200 to balance per bank statementAdd BD200 to balance per cash bookO Less BD200 from balance per cash book

BRS is prepared to match the cash balance with the passbook statement. It happens there is a…

dividend earned should be appear in bank reconciliation in: The following information for Dana Est.is shown on Aug 31, 2020: BD Cash per books 3700 Balance per bank statement 3800 Unpresented checks Deposits not entered by the bank Dividend received by the bank not entered in cash book 150 1250 200 Bank charges not entered in books 50 NSF checks 250 Collection of notes receivable by the bank not entered in cash book 1300 Add BD200 to balance per bank statement Add BD200 to balance per cash book O Less BD200 from balance per cash book

dividend earned should be appear in bank reconciliation in: The following information for Dana Est.is shown on Aug 31, 2020: BD Cash per books 3700 Balance per bank statement 3800 Unpresented checks Deposits not entered by the bank Dividend received by the bank not entered in cash book 150 1250 200 Bank charges not entered in books 50 NSF checks 250 Collection of notes receivable by the bank not entered in cash book 1300 Add BD200 to balance per bank statement Add BD200 to balance per cash book O Less BD200 from balance per cash book

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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Smith Company started its business on november 1,2020,below is the information needed to prepare a bank reconciliation for the business as at November 30,2020: i) Balance per bank statement was $34100. ii)$1300 check drawn by a customer johnson had been marked "NSF"in November and the company received this notice at the beginning of december 2020. iii)Cash receipts of $8000 recorded on November 2020 were not deposited to bank unti; december 1. iv)Bank service charge for November 2020 amounted $38 was sent to the company together with the bank statement. v)Check #620 for $4000 had been issued in November but was npt presented to the bank for payment. vi)Check #643 for electricity expense cleared the bank for $268 but was erroneously recorded in our books as $240. vii) A $486 deposit by Easy Co.was erroneously credited to our account by the bank. viii)the bank statement showed $30 interest earned on the bank for the month of November 2020. Requieed: Prepare a bank reconciliation…
The bank statement for Clive Company indicates a balance of $30,000 on September 30, 2021. After the journals for September had been posted, the cash account in the depositor's books had a balance of $27,800. The following reconciling items are available to prepare a bank reconciliation for Clive Company. (i) Bank debit memorandum for service charges, $250. (ii) Bank credit memorandum for interest earned, $2,105. (iii) Bank debit memorandum for $300 NSF (not sufficient funds) check from a customer. (iv) Cash sales of $480 had been erroneously recorded in the cash account as $448. (v) A check paid for $1,250 was erroneously recorded by the bank in the bank statement as $1,350. (vi) Checks outstanding, $1,463. (vii) Deposits in transit not recorded by bank, $750. Required: Prepare the bank reconciliation for Clive Company as of September 30, 2021.
Bank Reconciliation and Adjusting Entries (Appendix 6.1) Odum Corporation’s cash account showed a balance of $17,198 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,924.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $173.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $951.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March 31: #429 $57.40 #432 $147.50 #433 $214.80 #434 $191.90 A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank state-ment had…
Your Corporation's unadjusted bank balance at September 30, 2021 is $400. The following information is available for the bank reconciliation. $900 $300. Deposits in transit, $500 Outstanding checks, $300 Bank service charges, $75 Bank collected an accounts receivable for Your Company, NSF check written by one of Your Company's customers, What is Your Company's true cash balance?
Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2019, and prepare the journal entries: (a) The bank statement balance is $4,095 (b) The cash account balance is $4,205. (c) Outstanding checks amounted to $517. (d) Deposits in transit are $655. (e) The bank service charge is $45. (f) A check for $84 for supplies was recorded as $48 in the ledger. (g) NSF check for $649.00 (h) EFT collected $715.00 (i) Bank error processed a check for $53 as $35
The following details are found in the incomplete bank reconciliation statement of Phillip Company for the month ended September 30, 2021: Notes receivable of the customer collected and deposited in the bank- 250,000 Service Charge- 35,000 Interest Income on Deposits- 25,000 Deposits in Transit- 250,000 Outstanding Checks- 350,000 Balance per cash ledger- 725,000 Check of Phillip erroneously charge by the bank to Phillipa - 57,800 What is the reconciled cash to be reported by Phillip Company?
Consolidated Paper has just completed its bank reconciliation for the month of Febrruary 2023 as shown below. Balance per bank....... Add: Deposit in transit......... O Less: Outstanding checks... $16,200 2,600 (900) Balance per books...... Add: Interest earned. Less: Bank service charge.... Add: Error in posting payment of accounts receivable Reconciled balance........ $17,900 customer............ $17,400 200 (100) 2 3 Reconciled balance............... 4 5 a. Prepare the adjusting entry (debits and credits) that is needed as a result of the bank reconciliation. 6 b. What cash balance will Consolidated Paper report on its February 28, 2023 financial statements 7 8 9 0 1 400 $17,900
RM Inc. had the following bank reconciliation on August 31, 2021: Balance per bank statement, 8/31 Add: Deposits in transit P5,400,000 600,000 6,000,000 1,350,000 P4,650,000 Less: Outstanding checks Balance per books, 8/31 Data per bank for the month of September 2021 follow: Deposits (including P300,000 note collected for RM) Disbursements (including P210,000 NSF check and P15,000 service charge) P13,500,000 10,500,000 All reconciling items on August 31, 2021 cleared the bank in September. Outstanding checks on September 30 totaled P900,000. There deposits in transit amounted to P1,500,000 on September 30. What is the amount of cash disbursements per book in September?
The following information was available to reconcile A.C. Forrest Company's book cash balance with its bank statement as of June 30, 2020: The June 30 cash balance according to the accounting records was $14,630. Oustanding checks from May's bank reconciliation: Check # 229 $770 Check # 230 540 Below is a record of the cash receipts and cash payments for June: Cash Deposits Cash Payments Date Amount Check# Amount Jun 2 $3,600 231 $1,500 Jun 5 4,210 232 7,510 Jun 11 5,230 233 1,800 Jun 17 4,500 234 3,230 Jun 23 3,350 235 1,100 Jun 27 5,100 236 1,250 Jun 30 5,390 237 6,270 238 1,650 239 820 240 1,430 241 740 242 1,310 243 2,190 244 5,300 Continued…
Bank Reconciliation and Adjusting Entries (Appendix 6.1) Instructions Chart of Accounts Labels and Amount Descriptions Bank Reconciliation General Journal X Instructions Odum Corporation’s cash account showed a balance of $17,200 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,916.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $180.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $950.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March…
The cash account of SWITZER ltd. reported a balance of $2,500 at August 31,2020. Included were the outstanding cheques totalling $900 and on August 31 deposit of $500 that did not appear on the bank statement. The bank statement, which came from HSBC bank, listed on August 31,2020, balance of $3,405. Included in the bank balance was on August 30 collection of $550 on account from a customer who pays the bank directly. The bank statement also shows a $20 service charge, $10 of interest revenue that SWITZER earned on its bank balance and an NSF cheque for $35. Make the company’s journal entries for transactions that arise from the bank reconciliation. Include an explanation with each entry.
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.