Information needed to prepare a bank reconciliation for the DineFine Restaurant for November 30, 20X4, is presented below: a. Balance of cash per books on November 30, 20X4, is $1,252.86. b. Balance per bank statement on November 30, 20X4, is $1,192.96. c. The November 30 cash receipts of $382.50 were placed in the local bank's drop box at 9:00 P.M. on November 30. d. Bank services charges amounted to $14 for printing new checks. e. The outstanding checks at November 30 were #864, $232.50; # 868, $12.75; #869, $122.17. f. An NSF check in the amount of $25 was returned with the bank statement. g. Check #842 for $76 was erroneously recorded on the books at $67. h. A credit memo for $3.18 for interest earned was included with the bank statement.

Information needed to prepare a bank reconciliation for the DineFine Restaurant for November 30, 20X4, is presented below: a. Balance of cash per books on November 30, 20X4, is $1,252.86. b. Balance per bank statement on November 30, 20X4, is $1,192.96. c. The November 30 cash receipts of $382.50 were placed in the local bank's drop box at 9:00 P.M. on November 30. d. Bank services charges amounted to $14 for printing new checks. e. The outstanding checks at November 30 were #864, $232.50; # 868, $12.75; #869, $122.17. f. An NSF check in the amount of $25 was returned with the bank statement. g. Check #842 for $76 was erroneously recorded on the books at $67. h. A credit memo for $3.18 for interest earned was included with the bank statement.

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 bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998. a. Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495. b. Deposits in transit not recorded by bank, $778. c. Bank debit memo for service charges, $40. d. Bank credit memo for note collected by bank, $23,985 plus $885 interest. e. Bank debit memo for $756 NSF (not sufficient funds) check from Calin Sams, a customer. f. Checks outstanding, $1,860. Record the appropriate journal entries that would be necessary for Jeffrey Co. Record the entry that increases cash first. If an amount box does not require an entry, leave it blank.
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
Using the following information, prepare a bank reconciliation for Sunland Company for July 31, 2022. The bank statement balance is $3,770. The cash account balance is $4,170. Outstanding checks totaled $1,360. a. b. C. d. e. f. Deposits in transit are $1,670. The bank service charge is $54. A check for $95 for supplies was recorded as $59 in the ledger.
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 Add : ... Less : ... Adjusted cash balance per bank The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp10.094.000 Collection of electronic funds transfer Rp884.000 Interest earned on checking accounts Rp26.000 NSF check: R. Doll Rp245.000 Rp35.000 Safety deposit box rent Cash balance per books Add: *** *** Less *** Adjusted cash balance per books
Brown Company's bank statement for September 30 showed: Bank statement balance Book balance of cash $2,790 $3,724 The following information was also available as of September 30: a. A customer's check for $150 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $10 processing fee b. The September 30 cash receipts, $3,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the Septemt bank statement. c. Outstanding checks amounted to $2, 190. d. A check for rent expense was written for $326 but by mistake was recorded in the accounting records as $362.
Brown Company's bank statement for Septermber 30 showed: Bank statement balance Book balance of cash $4,210 $6,560 The following information was also available as of September 30: a. A customer's check for $950 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $30 processing fee. b. The September 30 cash receipts, $6,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c. Outstanding checks amounted to $3,910. d. A check for rent expense was written for $2,198 but by mistake was recorded in the accounting records as $2,918. Required: Prepare bank reconciliation as of September 30. Your Answer should be in the following format:
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $15,374 debit balance and its bank statement shows $15,539 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,735. b. The June 30 bank statement lists a $55 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $289 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $298. d. The June 30 cash receipts of $2,524 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 Bank reconciliation LO P3 "repare its bank reconciliation using the above information. DEL GATO CLINIC Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: Deduct:…
Miss Corina Cruz bank statement on September 30 showed a balance of P 26,091.20.Her checkbook showed a balance of P 23,305.70.She had noticed that checks # 13 for P 1,168.00 and # 18 for P 1,628.50 were outstanding.There was also a service charge of P 11.00. Prepare a bank reconciliation statement.
The Leo Company cash account had a balance of $962 on August 31. This included a bank deposit of $87 that was in transit on the 31st. The August 31 bank statement contained the following information: NSF Check Bank statement balance $ 1,089 $ 16 $ 7 $ 68 Bank service charge Collection of notes receivable Leo also had checks outstanding of $169. What is Leo's reconciled balance? a. $920 b. $962 c. $1,007 d. $1,089
Finac Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, its Cash account shows an $13,871 debit balance. Finac Company's June 30 bank statement shows $13,431 on deposit in the bank. a. Outstanding checks as of June 30 total $2,404. b. The June 30 bank statement lists a $95 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $889 in payment of a utility bill on June 15. Finac Company mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $898. d. The June 30 cash receipts of $2,758 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. A) Prepare a bank reconciliation for Finac Company using the above information. B) Journalize any transactions required from the bank reconciliation.