Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank ReconciliationStatement. Use the space provided after the illustrations for your answer.Cash-in-bank (IPB Bank)Dec. 4 Check No.6 Check No.8 Check No.9 Check No.Dec. 1 Deposit90,00045,0009,00072,0004,50013,500324003 36,0009,100324005 27,000324006 22,50032400112 Deposit32400223 Deposit27 Deposit32400412 Check No.20 Check No.28 Check No. 324007 45,000Bank StatementDateCheck No.WithdrawalsDeposits90,000Balance90,000Dec. 1103240049,10080,900203240014,50022,50076,40053,900223240062745,00098,900299,000107,9002932400336,00071,9002927,000 CM98,900311800 SC97,100CM - Credit MemoDM - Debit MemoSC - Service ChargeRT - Returned CheckLegend:

Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank Reconciliation Statement. Use the space provided after the illustrations for your answer. Cash-in-bank (IPB Bank) Dec. 1 Deposit 90,000 Dec. 4 Check No. 324001 4,500 6 Check No. 324002 13,500 324003 36,000 9,100 12 Check No. 324005 27,000 20 Check No. 324006 22,500 28 Check No. 324007 45,000 12 Deposit 45,000 23 Deposit 27 Deposit 9,000 72,000 8 Check No. 9 Check No. 324004 Bank Statement Date Check No. Withdrawals Deposits 90,000 Balance Dec. 1 90,000 80,900 10 324004 9,100 20 324001 4,500 22,500 76,400 53,900 22 324006 27 45,000 98,900 29 9,000 107,900 71,900 98,900 97,100 29 324003 36,000 29 27,000 CM 31 1800 SC CM - Credit Memo DM - Debit Memo SC - Service Charge RT - Returned Check Legend:

Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank Reconciliation Statement. Use the space provided after the illustrations for your answer. Cash-in-bank (IPB Bank) Dec. 1 Deposit 90,000 Dec. 4 Check No. 324001 4,500 6 Check No. 324002 13,500 324003 36,000 9,100 12 Check No. 324005 27,000 20 Check No. 324006 22,500 28 Check No. 324007 45,000 12 Deposit 45,000 23 Deposit 27 Deposit 9,000 72,000 8 Check No. 9 Check No. 324004 Bank Statement Date Check No. Withdrawals Deposits 90,000 Balance Dec. 1 90,000 80,900 10 324004 9,100 20 324001 4,500 22,500 76,400 53,900 22 324006 27 45,000 98,900 29 9,000 107,900 71,900 98,900 97,100 29 324003 36,000 29 27,000 CM 31 1800 SC CM - Credit Memo DM - Debit Memo SC - Service Charge RT - Returned Check Legend:

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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Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,046 Deposits in transit: $320 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,500; interest: $35 Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book Balance
How do I journalize this in the genral journal, what accounts would I use?
Using the following information: The bank statement balance is $5,175. The cash account balance is $5,503. Outstanding checks amounted to $712. Deposits in transit are $998. The bank service charge is $33. A check for $76 for supplies was recorded as $67 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
Control Features of a Bank Account: Reconciling the Bank Account (Entries from Bank Reco Knowledge Check A bank reconciliation from Ware, Inc. is provided here. Cash balance per bank statement Add: Deposits in transit $18,200 2,100 20,300 Less: Outstanding checks 1,050 Adjusted cash balance per bank 19,250 Cash balance per books 17,000 Add: Electronic funds transfer received $2,650 Interest earned 30 2,680 19,680 Less: NSF check-J. King 400 Bank charges 30 430 Adjusted cash balance per books $19,250 Prepare all necessary journal entries as a result of the bank reconciliation. (List all debit entries before credit entries. Credi titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Nov 30 Cash Debit Credit
prepare a bank reconciliation report.
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journalize any necessary entries for photo op based on bank recon
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
Which of the following journal entries is recorded as a result of the bank reconciliation process to record a NSF check for $250? A. Cash 250 Accounts Receivable 250 B. Accounts Receivable 250 Petty Cash 250 C. Accounts Receivable 250 Cash 250 D. Cash 250 Accounts Payable 250
Using the following information: 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 and using the following accounts/items: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks you are to prepare a bank reconciliation: Bank Balance [ Select ] Book Balance [ Select] Add items: Add items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] Less items: Less items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select] [ Select ] Adjusted Bank Bal. [ Select ] Adjusted Book Bal. [ Select ] PLEASE NOTE: For the above reconciliation, if no dollar amount is needed, please use "$0" or if no item is needed, please use "None" - no quotation marks. You must enter the account and item names exactly as written above and all dollar amounts will be with "$" and commas…
Instructions: Prepare a bank reconciliation for Kali Loli from the following checkbook records and bank statement CHECKBOOK Check number 801 802 803 804 805 Date Description fo transaction 44835 H&H Jewelers 44840 Deposit 44842 L.L. Bean 44844 Cashe 44847 Deposit 44847 Four Seasons Hotel 44849 American Express 44854 ATM Withdrawal 44858 Deposit 44861 Deposit 44862 Home-Depot - Debit Card BANK STATEMENT Statement Date: Checking Account Summary: Account Number: Checking Account Transactions Date Amount 44837 44840 44844 44847 44849 44851 44856 44858 44862 44864 BANK RECONCILIATION Check book balance. Amount of payment or withdrawal Amount of deposit or interest Balance Forward 879.36 November 3, 2021 October 1- 31, 2021 449-56-7792 Previous Balance Deposits Number Total Credits ✓ Check Number Total Debits Current Balance → 879.36 3 1954.59 7 1347.83 1486.12 Description 236.77 Check # 801 450.75 Deposit 324.7 Returned item 880.34 EFT payroll deposit 75.89 Check #803 507.82 Check #805…