Enterina Company provided the following bank reconciliation on May 31:Balance per bank statementDeposits OutstandingChecks OutstandingCorrect Cash Balancebenibni bnatomb2,100,000300,000130,000)2.370.000toextBalance per bookBank Service ChargeCorrect Cash Balance2,372,000| 2,000)2.370,000pA p sug EubokData for the month of June:BankBookChecks recorded2,300,0001,620,000420,00010,0001,830,000Deposits recordedCollection by Bank (P400,000 note plus interest)2,360,0001,800,000NSF Check returned with June 30 statementBalances1,810,00029. What is the amount of checks outstanding on June 30230. What is the amount of deposits in transit on June 30?31. What is the adjusted cash in bank on June 302m noussmelasineadA eeyolgm3TARRAM

1) Checks outstanding are those checks that have been written and recorded in the bank column of the…

Enterina Company provided the following bank reconciliation on May 31: Balance per bank statement Deposits Outstanding Checks Outstanding Correct Cash Balance 2,100,000 300,000 130.000) 2.370.000 Balance per book Bank Service Charge Correct Cash Balance nonem 2,372,000 2,000 pA ug Eubjok2.370.000 Data for the month of June: Bank Book Checks recorded 2,300,000 2.360,000 1,800,000 Deposits recorded Collection by Bank (P400,000 note plus interest) NSF Check returned with June 30 statement Balances 1,620,000 420,000 10,000 1,830,000 1,810,000 re Gubiorcce pon couLScna beu 29. What is the amount of checks outstanding on June 302 30. What is the amount of deposits in transit on June 30? 31. What is the adjusted cash in bank on June 302 enticinism o

Enterina Company provided the following bank reconciliation on May 31: Balance per bank statement Deposits Outstanding Checks Outstanding Correct Cash Balance 2,100,000 300,000 130.000) 2.370.000 Balance per book Bank Service Charge Correct Cash Balance nonem 2,372,000 2,000 pA ug Eubjok2.370.000 Data for the month of June: Bank Book Checks recorded 2,300,000 2.360,000 1,800,000 Deposits recorded Collection by Bank (P400,000 note plus interest) NSF Check returned with June 30 statement Balances 1,620,000 420,000 10,000 1,830,000 1,810,000 re Gubiorcce pon couLScna beu 29. What is the amount of checks outstanding on June 302 30. What is the amount of deposits in transit on June 30? 31. What is the adjusted cash in bank on June 302 enticinism o

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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R&L Company provided the following bank reconciliation on May:Balance per bank 2,100,000Deposit Outstanding 300,000Checks Outstanding ( 50,000)Correct Cash Balance 2,350,000 Balance per book 2,360,000Bank Service Charge ( 10,000)Correct Cash Balance 2,350,000 Data for the Month of JuneBank BookChecks Recorded 2,300,000 2,400,000Deposits Recorded 1,700,000 1,800,000Collection by bank, plus interest 550,000NSF Check returned with June 100,000Balance 1,950,000 1,750,000 What is the amount of checks Outstanding on June? * What is the amount of deposit in transit on June?
Using the following information: a. The bank statement balance is $4,265. b. The cash account balance is $4,448. c. Outstanding checks amount to $835. d. Deposits in transit are $954. e. The bank service charge is $55. f. A check for $37 for supplies was recorded as $28 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co. Bank Reconciliation Line Item Description May 31 Amount Amount Cash balance according to bank statement Adjusted balance Cash balance according to company's records Total deductions Adjusted balance
Data for the company are assembled as follows: Nov 30 December 31 Cash Account Balance P 1,017 P 2,427 Bank statement balance 5353 6891 Undeposited collections 410 644 Checks outstanding 1385 1505 Bank service charges for the month, not shown on the company books 36 30 Bank charges for NSF checks, not shown on the company books 215 412 Collections by bank from the company customers, not shown on the Company books 3612 4,045 Tapes for bank and company cash data offer the following totals: Deposit and credit memos per bank statement, P 12,455 Cancelled checks and debit memos per bank statement, P 10,917 Cash receipts per cash book P 8,644 Checks written per cash book P 10,595 How much is the adjusted Cash Balance on November 30?
At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000, outstanding checks Rp1.462.000, deposits in transit Rp1.211.000, and a bank debit memo Rp110.000. Determine the adjusted cash balance per bank at July 31. Cash balance per bank Add : ... Less : ... Adjusted cash balance per bank The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp10.094.000 Collection of electronic funds transfer Rp884.000 Interest earned on checking accounts Rp26.000 NSF check: R. Doll Rp245.000 Rp35.000 Safety deposit box rent Cash balance per books Add: *** *** Less *** Adjusted cash balance per books
What is the cash balance per bank on June 30?
Using the following information: a. The bank statement balance is $3,106. b. The cash account balance is $3,320. c. Outstanding checks amounted to $655. d. Deposits in transit are $714. e. The bank service charge is $146. f. A check for $59 for supplies was recorded as $50 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance
The Leo Company cash account had a balance of $962 on August 31. This included a bank deposit of $87 that was in transit on the 31st. The August 31 bank statement contained the following information: NSF Check Bank statement balance $ 1,089 $ 16 $ 7 $ 68 Bank service charge Collection of notes receivable Leo also had checks outstanding of $169. What is Leo's reconciled balance? a. $920 b. $962 c. $1,007 d. $1,089
Sharon Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the c records. June 30 Bank Reconciliation Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $35,000 7,700 (10,000) $32,700 Month of July Results Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank (recorded by bank as a charge) Per Bank Per Books $43,250 22,500 20,000 7,500 75 1,675 $46,250 29,050 15,500 | I
The folowing Information was gathered by Superior Landscaping in order to prepare its Bank Reconciliation at the end of October: Balance in Cash Ledger account at end of Oct 31 $4,450 Balance of Cash in Bank Statement at end of Oct 31 3,900 Electornic Funds Transfer deposited into your Bank account late Oct 31 600 Outstanding Cheques at end of Oct 31 1,200 Deposits in Transit 2,000 NSF cheque received from a customer 350 Prepare the October 31st Bank Reconciliation
The following information is available for Mouse Inc. for the current month: Company records balance, end of the month $16,725 Outstanding checks $1,752 Deposits in transit $7,500 Service Charges $225 Interest Revenue $75 What is the adjusted company balance on the bank reconciliation? Group of answer choices $22,473 $16,575 $22,623 $22,323
Rakesh
The following bank reconciliation was prepared as of June 30, 20Y7: Line Item Description Amount Amount Cash balance according to bank statement $15,915 Add: Outstanding Check No. 1067 $565 Outstanding Check No. 1106 450 Outstanding Check No. 1110 1,090 Outstanding Check No. 1113 950 Total additions 3,055 Deduct: Deposit of June 30 not recorded by bank (6,900) Adjusted balance $12,070 Cash balance according to company’s records $8,070 Add: Proceeds of note collected by bank: Face value $6,000 Proceeds of note collected by bank: Interest 300 Service charges 10 Total additions 6,310 Deduct: Check returned because of insufficient funds $900 Error in recording June 17 deposit of $8,150 as $1,850 6,300 Total deductions (7,200) Adjusted balance $7,180 b. Prepare a corrected bank reconciliation.…