fore reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $5.750. The be Conciliation for the month contained the following items: Deposits in transit Outstanding checks Interest earned $ 770 Multiple Choice 495 20 120 NSF check returned to bank Bank service charge Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? 20

fore reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $5.750. The be Conciliation for the month contained the following items: Deposits in transit Outstanding checks Interest earned $ 770 Multiple Choice 495 20 120 NSF check returned to bank Bank service charge Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? 20

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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The following extract from the cash book of Jon for the month of January shows thecompany’s bank transactions:RM RM01 Jan Balance b/f 600 18 Jan Ali 14513 Jan Uno 224 28 Jan PBA 7231 Jan Latif 186 30 Jan TNB 10931 Jan Balance c/f 6841,010 1,010…3/-3The company’s bank statement for the same period is as follows:Debit (RM) Credit (RM) Balance (RM)01 Jan Balance 63503 Jan Halim 35 60013 Jan Uno 224 82423 Jan Ali 145 67931 Jan Standing order 30 649Required:a. Prepare a corrected cash book using the information given above b. Draw up a bank reconciliation statement.
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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 Rp 5.200.000,00 Add : Deposits in Transit Rp 1.211.000,00 Rp 6.411.000,00 Less Outstanding Checks Rp 1.462.000,00 Adjusted cash balance per bank Rp 4.949.000,00 The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp 10.094.000 Rp 884.000 Collection of electronic funds transfer Interest earned on checking accounts NSF check: R. Doll Rp 26.000 Rp 245.000 Safety deposit box rent Rp 35.000 Cash balance per books Rp10.094.000 Add: *** ... Less NSF Check Rp245.000 Adjusted cash balance per books
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30 $ 6,825 Deposits in transit at month-end $ 2,220 Outstanding checks at month-end $ 730 Bank service charges $ 46 An NSF check returned on a customer account $ 800 The adjusted cash balance per the books on January 31 is: Multiple Choice $7,724 $6,994 $5,979 $6,663 $7,196
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The cash records and bank statement for the month of July for Eagle Incorporated are shown below. Description DEP Customer deposit INT Interest earned SF Service feesNOTE Note collected CHK Customer check NSF Nonsufficient fundsEFT Electronic funds transfer DC Debit card Additional information: The difference in the beginning balances in the company’s records and the bank statement relates to check number 530, which is outstanding as of June 30, 2024. The debit card transaction for the purchase of equipment on 7/19 is correctly processed by the bank. The EFT on July 26 in the bank statement relates to the purchase of office supplies.
Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following details for the month of December: Note collected (principal, $800.00; interest, $8.00, signed by Johnson) $808 Error in recording check No. 2234 payable to Beta, Inc.* 50 Bank service and collection charges 15 *The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445)Determine the adjusted ledger balance of cash as on December 31. a.$3,682 b.$5,268 c.$3,582 d.$5,168
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Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash account balance for Rexrode is $21,245.75. The following data were gathered by Rexrode's accountant: Outstanding checks as of January 31: $4,895.44 ● NSF check from customer: $183.62 • Debit memo related to the returned deposit: $20.00 Credit memo for interest earned: $12.00 • Deposits in transit: $1,236.77 Required: a. Prepare a bank reconciliation for Rexrode Company at January 31. b. Indicate how each of the required adjusting entries impact the financial statements. . • Complete this question by entering your answers in the tabs below. Required A Required B Indicate how each of the required adjusting entries impact the financial statements. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Round your answers to 2 decimal places. Item Outstanding checks NSF check from a customer Debit memo related to the…
Required information [The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available: 1. Deposit in transit: $2,400. 2. Credit memo in bank statement for interest earned in June: $30. 3. Outstanding check: $6,690. 4. Debit memo for service charge: $20. b. Record in general journal format the adjusting entries necessary to correct the unadjusted book balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)