Following is the general format of a four-column bank reconciliation with the various categories andpresentation numbered (1) through (8):Per Bank StatementItems to be added:Items to be deducted:Per BooksSelect one:a. 1 and 3b. 1 and 4c. 2 and 4Balance10/31d. 2 and 3e. 2 and 6NovemberReceiptsSXXXXX3Indicate the proper location for the following reconciling items.A 10/31 collection by bank will appear as:NovemberDisbursementsSXXXXX12XXXXX $XXXXX $XXXXXSXXXXX56Balance11/30SXXXXX78SXXXXX

Bank reconciliation statement is prepared to list out all the transaction due to which the balance…

Following is the general format of a four-column bank reconciliation with the various presentation numbered (1) through (8): Per Bank Statement Items to be added: Items to be deducted: Per Books Balance 10/31 $XXXXX November November Receipts SXXXXX 3 4 Disbursements SXXXXX 5 6 2 XXXX $XXXXX SXXXXX Indicate the proper location for the following reconciling items. A 10/31 collection by bank will appear as: Balance 11/30 $XXXXX SXXXXX

Following is the general format of a four-column bank reconciliation with the various presentation numbered (1) through (8): Per Bank Statement Items to be added: Items to be deducted: Per Books Balance 10/31 $XXXXX November November Receipts SXXXXX 3 4 Disbursements SXXXXX 5 6 2 XXXX $XXXXX SXXXXX Indicate the proper location for the following reconciling items. A 10/31 collection by bank will appear as: Balance 11/30 $XXXXX SXXXXX

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Given the following April data per bank: 3/31 balance $100 April receipts $40 April disbursements $30 4/30 balance $110 Reconciling Items: 1. 4/30 Deposit in transit $7 2. 3/31 Outstanding checks $4 3. 3/31 Collection by bank $2 April Receipts per books were: Select one: a. $39 b. $49 c. $35 d. $45 e. $31
7
Identify whether each of the following items would be (a) added to the book balance, or (b) deducted from the book balance in a bank reconciliation. 1. EFT transfer to a supplier. 2. Bank service charge. 3. Check printing charge. 4. Error recording check #214 which was written for $450 but recorded for $540. 5. Collection of note and interest by bank on company's behalf.
Given this book and bank statement information, create an October bank reconciliation for Arrowhead company. And the journal entries required for the book side. BOOK INFO: Cash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck 10102 Accounts Payable 1,374.12 6,885.74 10/2/2020 Ck 10103 Rent 3,420.00 3,465.74 10/2/2020 Ck 10104 Utilities 689.00 2,776.74 10/4/2020 Deposit 3,743.10 6,519.84 10/4/2020 Ck 10105 Advertising 344.21 6,175.63 10/4/2020 Ck 10106 Subscription 102.84 6,072.79 10/9/2020 Ck 10107 Internet 74.97 5,997.82 10/9/2020 Deposit 4,859.47 10,857.29 10/9/2020 Ck 10108 Telephone 221.00 10,636.29 10/9/2020 Deposit 11,339.64 21,975.93 10/12/2020 Ck 10109 Accounts Payable 1,680.00 20,295.93 10/13/2020 Ck 10110 Wages…
On April 30, the bank reconciliation of Metlock, Inc. shows three outstanding checks: no. 254, $630; no. 255, $870; and no. 257, $500. The May bank statement and the May cash payments are shown as follows. Date 5/4 5/2 5/17 5/12 5/20 5/29 5/30 Date 5/2 Bank Statement 5/5 5/10 5/15 5/22 5/24 5/29 Checks Paid Check No. 254 257 258 259 261 263 262 Cash Payments Checks Issued 258 259 260 261 262 263 264 Amount Check No. Amount $630 Check No. " 500 289. 215 590 460 770 $289 215 980 590 770 460 Using Step 2 in the reconciliation procedure, list the outstanding checks at May 31. 540 Total $ Amount
(A) Prepare a bank reconciliation at December 31, 2018. (B) Prepare the adjusting journal entries based on the reconciliation.
6, 7, A bank reconciliation for October 31 follows. Bank statement balance Add: Deposit in transit Deduct: Outstanding checks Adjusted bank balance View transaction list < 1 2 Note: Enter debits before credits. Date October 31 Bank Reconciliation October 31 Journal entry worksheet Cash $ 6,482 3 291 6,773 79 $ 6,694 Prepare the necessary journal entries based on the bank reconciliation. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Book balance Add: 4 Collection of a note Interest earned Deduct: NSF check Bank service charges Adjusted book balance Record the $400 collection of a note receivable by the bank on our behalf. Saved General Journal $ 400 64 Debit 63 61 $ 6,354 Credit 464 6,818 124 $6,694
Mazaya Company developed the following reconciling information in preparing its June bank reconciliation: Cash balance per bank, 6/30 R.O. 8,000; Note receivable collected by bank 3,200; Outstanding checks 4,800; Deposits in transit 2,400; Bank service charge 4O; NSF check 640. Determine the cash balance per books (before adjustments) for Mazaya Company. Select one: a. R.O. 6,280. b. R.O. 8,000. cR.O. 10,400. d. R.O. 3,080.
4
Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31: (In attachment named as bank reconciliation) A list of deposits made and cheques written during April, taken from the cash receipts journal and cash disbursements journal, is shown below: Deposits made April 7 ........................................ $690 13 .............................................. 4.600 18 .............................................. 5,900 23 ............................................... 13,900 27 ............................................... 1.750 30 .............................................. 44.600 Total April Cash Receipts ..... $71.440 Cheques Written No. 23 ............................................. $5.200 24 ............................................. 3.150 25 .............................................…
show how the accounts related to the preceding sale and collection activities shoukd be reported on the current year income statement PLEASE DO NOT ANSWER IMAGE FORMET
Meman