general journal of deposit 4000 cash into the bank
Q: 2. Prepare any journal entries that should be made as a result of the bank reconciliation. (If no…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Gibson Energy Ltd.'s general ledger account for Cash in Bank showed the following at December 31,…
A: Bank reconciliation statement refers to a reconciliation between the entries entered in the cash…
Q: How do you prepare a bank reconcliation?Show the accounting entries that must be made in journal or…
A: Bank reconciliation statement: It is prepared to match the the entity's financial statement with the…
Q: Prepare a bank reconciliation using the following information: Balance per Bank – 1/31…
A: Sometimes the balance as per the bank statement and the balance recorded in the books is not matched…
Q: Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository,…
A: "As per bartleby guidelines we will solve the first three question for you. If you want any specific…
Q: Prepare the journal entry to reconcile the bank statement.
A: Prepare a bank reconciliation statement.
Q: The journal entry to record the issuance of the initial check to establish a petty cash fund of $750…
A: Petty cash: Petty cash fund is eastiblished to pay small amount expenses. Office supplies, postage…
Q: the following bank information: cash balance per bank $8,070, outstanding checks $722, deposits in…
A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…
Q: Required information Skip to question [The following information applies to the questions…
A: A bank reconciliation statement is a financial document that reconciles the bank statement balance…
Q: EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records…
A: Bank reconciliation statement is the process in which bank balance as per the entity records is…
Q: Required: 1.Complete the bank reconciliation at December 31, 2019.…
A: Please fallow the answer below: Answer 1) Computation of Bank Reconciliation at December 31, 2019.…
Q: Bank reconciliation and entries The following information was available to…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: Using the following information, prepare the journal entries to reconcile the bank statement. • Bank…
A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…
Q: The journal entries for a bank reconciliation . are taken from the "balance per bank" section only.…
A: A bank reconciliation is a statement that is prepared to match the bank balance as per the books of…
Q: Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank…
A: 3rd & 4th are the adjustments for the bank statement. 5th & 6th needs to be adjusted in the…
Q: The following information applies to the questions he following information is available to…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: At April 30, Kessler Company has the following bank information: Cash balance per bank $6,900…
A: INTRODUCTION: The "adjusted balance method" of accounting bases finance charges on the amount(s)…
Q: Determine whether the firm reports each of the following items as part of cash and cash equivalents…
A: Cash And Cash Equivalents are the current assets which can be converted into cash very easily in the…
Q: INFORMATION FOR BANK RECONCILIATION Print a copy of the cash account (101). Use the printed copy of…
A: The financial transactions related to cash and bank are recorded by the businesses in the cash book.…
Q: instructions Instructions The following data were accumulated for use in reconciling the bank…
A: A journal is a detailed account that records all the financial transactions of a business, to be…
Q: The Cash account in the general ledger of Hendry Corporation shows a balance of $96,990 at December…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: 1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Continue using the journal and journalize the following transaction: Mar. 31. Paid cash to replenish…
A: Journal entry means the entry in prime book with chronological order. Journal entry should have…
Q: Imprest amount Coins and currency Petty cash receipts Required: Prepare all the necessary journal…
A: Imprest Petty cash method is a method wherein petty cash expense incurred which is supported by…
Q: Which of the following items is subtracted from the “cash balance from bank statement” on a bank…
A: Deposits in transit: Deposit in transit means the money received by a company and recorded in the…
Q: The following data were gathered to use in reconciling the bank account of Reddan Company: Balance…
A: please like the answer your response matters Solution a: Reddan Company Bank Reconciliation…
Q: Question. At April 30, Kessler Company has the following bank information: Cash balance per bank…
A: INTRODUCTION: The accounting technique known as the "adjusted balance method" bases finance charges…
Q: Which of the following items should be included in the Cash? O A. O B. Postdated checks and I.O.U.'s…
A: Cash and Cash equivalents are coins ,notes bill, cash at bank and any marketable security that can…
Q: This information relates to the Cash account in the ledger of Cullumber Company. Balance September…
A: The statement of Bank reconciliation is a report that matches the money balance on an organization's…
Q: Required information [The following information applies to the questions displayed below.] Eskimo…
A: Answer:
Q: The September 30 bank statement for Bennett Company and the September ledger account for cash are…
A: A journal entry is used to record the day-to-day transactions of an organization by debiting and…
Q: 1. Based on the above information, prepare a bank reconciliation for the Wisconsin Company. 2.…
A: A bank reconciliation statement is prepared to identify the reason for differences between the…
Q: Accompanying the bank statement was a credit memorandum for a short-term note collected by the bank…
A: Bank reconciliation: Bank reconciliation is a statement which bring into agreement the cash balance…
Q: The June 30 cash balance in the general ledger is $878. .The June 30 balance shown on the bank…
A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…
Q: Use the following to answer questions 1-4 Determine whether the firm reports each of the following…
A: A bank reconciliation statement aligns an organization's bank account with its financial documents…
Q: ash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck…
A: A bank reconciliation statement is a statement that is prepared to reconcile the bank balance as per…
Q: Franklin Company deposts all cash receipts on the day they are received and makes all cash payments…
A: A Bank Reconciliation Statement is a summary statement prepared at the end of every month to…
Q: Month of July Results Balance July 31 July deposits July checks July note collected (not included in…
A: The bank reconciliation statement is prepared to equate the balance of the cash book and pass book…
Q: The following data were gathered to use in reconciling the bank account of Azalea Company: Balance…
A: Theory introduction: Bank reconciliation statement: Match the bank balance with the Accounting book…
Q: After posting the journal entries to the Cash T-account, the balance in the Čash T- account should…
A: Cash T-account: It is a ledger account that carries the opening balance of cash, records debits, and…
Q: Q- 4211 Which journal entry recognizes that an NSF check had been deposited by a company and…
A: NSF check stands for non-sufficient funds check. It is recorded when a check is deposited by the…
Q: Bank Reconciliation The following data were accumulated for use in reconciling the bank account of…
A: Bank Reconciliation: A bank reconciliation may be a technique of matching the balances in an…
Q: Items on company bank statement: 1. Bank correction of an error from posting another customers…
A: Introduction: A bank statement is a document that is generally provided by the bank to the account…
Q: Following is a bank reconciliation for Zocar Enterprises for June 30, Year 2: Balance as of…
A: Lets understand the basics.NSF check – The NSF means “Non-Sufficient Funds”. An NSF check is a type…
Q: Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank…
A: A bank reconciliation statement is required to be prepared to compare the cash balance as per book…
Q: Littlestown Corporation reports the following information: Balance in National Bank checking account…
A: Current assets are assets that are projected to be converted into cash within a year. Accounts…
Step by step
Solved in 2 steps
- Accounting The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 17,350 Balance per company records 8,450 Bank service charges 50 Deposit in transit 2,650 Note collected by bank with $190 interest 4,800 Outstanding checks 6,800AUDIT TASK Make sure that the cash balance per bank shown on the bank reconciliation is verified by the bank Analyze the gross profit percentage with respect to previous period(s) and industry data Verify that the client has deeds or other proof of ownership for land and other plant assets Compare checks written in the weeks following the end of the fiscal period to amounts in accounts payable at period-end Consider payroll cost and expenses (in total and as a percentage of sales) for this period compared to prior period(s) Test the sales journal to establish that sales transactions actually took place and are reported in the proper period Compare the number of days' sales in accounts receivable (average collection period) from this period to prior period(s) Obtain an aged schedule of accounts receivable from period-end and verify the aging of the balances RELEVANT ASSERTION(S) Existence / Occurrence Completeness Cutoff Valuation & Allocation Rights & Obligation AUDIT EVIDENCE Physical…Match each item to a bank statement adjustment, a company books adjustment, or either. Question 8 options: NSF check Bank charges Outstanding checks Error in recording a check Interest revenue Deposit in transit Note collected by the bank 1. bank statement adjustment 2. company books adjustment 3. either
- 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 CreditRequired:1. Prepare a bank reconciliation as of February 28.2. Prepare adjusting entries for Valentine based on the information developed in the bank reconciliation.3. What is the amount of cash that should be reported on the February 28 balance sheet?This information relates to the Cash account for Cullumber Company. Balance September 1-$17,090; Cash deposited-$64,000 Balance September 30-$18,290; Checks written-$62,800 The September bank statement shows a balance of $17,190 at September 30 and the following memoranda. Credits Collection of electronic funds transfer Interest earned on checking account $1,990 50 Debits NSF check: H. Kane Safety deposit box rent $720 65 At September 30, deposits in transit were $4,903 and outstanding checks totaled $2,548.
- 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…When journal entries for items in the Ledger Balance of Cash section of the bank reconciliation are made, the additions are: a.credited to the Capital account. b.debited to the Capital account. c.debited to the Cash account. d.credited to the Cash account.Bank reconcjliation Instructions Chart of Accounts First Question Journal Instructions The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $17,350 Balance pir company records 10,035 Bank service charges 35 Deposit in transit 3,350 Note collected by bank with $190 interest 4,600 Outstanding checks 6,100 Instructions a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wordina of Check My Work
- 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 250The debit recorded in the journal to reimburse the petty cash fund is to Select one: A. Cash B. Petty Cash C. various accounts for which the petty cash was disbursed D. Accounts ReceivableEntries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August 31, $25,940. 2. Cash balance according to the bank statement at August 31, $27,390. 3. Checks outstanding, $5,270. 4. Deposit in transit not recorded by bank, $4,230. 5. A check for $270 in payment of an account was erroneously recorded in the check register as $720. 6. Bank debit memo for service charges, $40. Journalize the entries that should be made by the company that (a) increase cash and (b) decrease cash. a. 20Y6 Aug. 31 b. Aug. 31