In preparing the bank reconciliation for the month of August, Alex Companyprovided the following information:Balance per bank statementDeposit in transitReturn of customer check for insufficient fundOutstanding checksBank service charge for August1,805,000325,00060,000275,00010,000What is the adjusted cash in bank?

Bank reconciliation statement is prepared to cross check the balances of cash in bank balance as per…

In preparing the bank reconciliation for the month of August, Alex Company provided the following information: Balance per bank statement Deposit in transit 1,805,000 325,000 Return of customer check for insufficient fund 60,000 Outstanding checks Bank service charge for August 275,000 10,000 What is the adjusted cash in bank?

In preparing the bank reconciliation for the month of August, Alex Company provided the following information: Balance per bank statement Deposit in transit 1,805,000 325,000 Return of customer check for insufficient fund 60,000 Outstanding checks Bank service charge for August 275,000 10,000 What is the adjusted cash in bank?

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: The bank statement balance is $3,093. The cash account balance is $3,305. Outstanding checks amounted to $767. Deposits in transit are $815. The bank service charge is $155. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 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
Shown below is the bank reconciliation for Mat Company for November 20x7: Balance per bank, Nov 30, 20x7 P 300,000 Add: Deposits in transit 48,000 Total 348,000 Less: Outstanding checks P 56,000 Bank credit recorded in error 20,000 76,000 Cash balance per books, Nov 30, 20x7 P 272,000 The bank statement for December 20x7 contains the following data: Total deposits amounted to P220,000; Total charges (including an NSF check of P16,000 and a service charge of P800) amounted to P192,000 All outstanding checks on November 30, 20x7, including the bank credit, were cleared in the bank 1n December 20x7. There were outstanding checks of P60,000 and deposits in transit of P72,000 on December 31, 20x7. The adjusted cash in bank balance as of December 31, 20x7 is
At November 30, One Day Cleaners has available the following data concerning its bank checking account: PROBLEM 7A-2 Preparing a Bank Reconcil- 1 At November 30, cash per the bank statement was $37,758; per the accounting records, $42,500. lation 2 The cash receipts of $6,244 on November 30 were deposited on December 1. 3 Included on the bank statement was a credit for $167 interest earned on this checking account during November. 4 Two checks were outstanding at November 30: no. 921 for $964 and no. 925 for $1,085. 5 Enclosed with the bank statement were two debit memoranda for the following items: service charge for November, $14; and a $700 check of customer Tanya Miller, marked "NSF." INSTRUCTIONS a Prepare a bank reconciliation at November 30. b Prepare adjusting entries (in general journal form) based on the bank reconcili- ation.
Kindly see the image for the problem. Please prepare a proof of cash and answer the following questions: How much is the cash shortage as of Dec. 31? How much is the adjusted bank receipts for december? How much is the adjusted book disbursements for December?
Flower company was preparing a bank reconciliation statement as of September 30, 2018. The following were identified: Flower company book balance =$32,800 Deposit in Transit = $4,300 Outstanding checks = $2,200 Interest earned on checking account =$100 Customer NSF check returned by bank =$400 The adjusted cash balance as at September 30, 2018 will be:
Please explain how to calculate the results to the below problem. Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 6,500 Deposits during June $ 16,200 22,700 Checks cleared during June $ 16,600 6,100 Bank service charges 40 6,060 Balance, June 30 6,060 Cash (A) June 1 Balance 6,500 June Checks written 19,000 June Deposits 18,100 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,400. A deposit of $1,900 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that…
— Prepare bank reconciliation statement for the month of August. — Prepare the adjusting entries.
Mazaya Company gathered the following reconciling information in preparing its November bank reconciliation: Cash balance per books (11/30) R.O.4,400; Deposits in transit R.O. 60o; Notes receivable and interest collected by bank R.O.1,400; Bank charge for check printing
MDB Company provided the following data pertaining to the cash transactions and bank account for the month of May: Cash balance per accounting record Cash balance per bank statement Bank service charge Bank Debit Memo Php 1,719,000 3,195,000 10,000 5,000 685,000 500,000 810,000 Outstanding checks Deposits made on May 30 and not yet reflected in the bank statement Collections made by the bank from a customer promissory note, the principal amount of Php800,000 with interest Check No. 1234 issued to a supplier entered in the accounting record as P210,000 but deducted in the bank statement at an erroneous amount of Customer check returned by the bank marked as NSF. No entry has been made to record the returned check 21,000 77,000 What is the adjusted cash in bank?