Is there anything odd about these two situations? (a) A check to Larson Electric Supply wasendorsed with “Larson Electric” above the signature of “Eloise Garfunkle.” (b) Numerous checkswere issued and dated December 25, January 1, and July 4.
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Is there anything odd about these two situations? (a) A check to Larson Electric Supply was
endorsed with “Larson Electric” above the signature of “Eloise Garfunkle.” (b) Numerous checks
were issued and dated December 25, January 1, and July 4.
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- The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: Cash balance according to the company's records at July 31, $49,910. Cash balance according to the bank statement at July 31, $48,250. Checks outstanding, $4,460. Deposit in transit, not recorded by bank, $6,450. A check for $590 issued in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $30. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 12. Nakajima Co.Bank ReconciliationJuly 31 Cash balance according to bank statement $fill in the blank 8740c9ff3f91023_1 - Select - - Select - Adjusted balance $fill in the blank 8740c9ff3f91023_6 Cash balance according to company's records $fill in the blank 8740c9ff3f91023_7 - Select - - Select - Adjusted balance $fill in the blank 8740c9ff3f91023_12 Question Content Area b. If the…When a drawee bank certifies a check, it charges the drawer's account. with the amount of the check and transfers those funds to its own certified check account. within a business day immediately within 48 hours whenever the drawer requestsOn April 30, the bank reconciliation of Sunland Company shows three outstanding checks: no. 254, $730; no. 255, $910; and no. 257, $310. The May bank statement and the May cash payments journal show the following. Bank Statement Checks Paid Date Check No. Amount 5/4 254 $730 5/2 257 310 5/17 258 249 5/12 259 200 5/20 261 500 5/29 263 430 5/30 262 690 Cash Payments Journal Checks Issued Date Check No. Amount 5/2 258 $249 5/5 259 200 5/10 260 840 5/15 261 500 5/22 262 690 5/24 263 430 5/29 264 580 List the outstanding checks at May 31. No. Amount Select a check number $Enter a dollar amount Select a check number Enter a dollar…
- The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance according to the company's records at August 31, $26,110. Cash balance according to the bank statement at August 31, $27,460. Checks outstanding, $5,300. Deposit in transit not recorded by bank, $4,260. A check for $480 in payment of an account was erroneously recorded in the check register as $840. Bank debit memo for service charges, $50. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?On June 15, we Received notice from the bank that the $5,000 check received from customer Arlene Burnet (10300) on June 14 has not cleared due tolack of funds. The $,5000 balance of this NSF check plus anadditional $80 handling fee will be charged back to Ms. Burnet'saccount (sales invoice number G4016). The $80 handling feecharged by Granite Bay Jet Ski will be entered as MiscellaneousRevenue. At the check number prompt enter BADCK for badcheck. Please enter the following journal entries for the above.Q.17. The check register for Bellam Furniture showed a balance of $3,511.91. Checks were written for $2,593.02 and $72.80. A deposit was made for $6,982.22. Compute the new balance shown in the check register.
- Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $15,573 debit balance and its bank statement shows $15,890 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,925. b. The June 30 bank statement lists a $70 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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 $498. d. The June 30 cash receipts of $2,547 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.1. The following information is available for the Aston Company for the month of December. a. On December 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $272,020. b. The company's bank statement shows a balance on December 31 of $292,790. c. Outstanding checks at December 31 include check # 3030 in the amount of $15,250 and check # 3556 in the amount of $14,590. d. A credit memo included with the bank statement indicates that the bank collected $7,800 on a noninterest-bearing note receivable for Aston. The bank deducted a $100 collection fee, and credited the remainder of $7,700 to Aston's account. e. A debit memo included with the bank statement shows a $670 NSF check from a customer, J. I Brown. f. A deposit placed in the bank's night depository on December 31 totaled $16,750, and did not appear on the bank statement. g. Examination of the checks on the bank statement with the entries in the accounting records reveals that…Laboratory Management deposited into its account at Pulaski Bank a check issued by Fairway Farms in the amount of $150,000. The date of deposit was February 5. Pulaski, the depositary bank, initiated the collection process immediately by forwarding the check to Worthen Bank on the sixth. Worthen sent the check on for collection to M Bank Dallas, and M Bank Dallas, still on February 6, delivered the check to M Bank Fort Worth. That same day, M Bank Fort Worth delivered the check to the Fort Worth Clearinghouse. Because TAB/West Side, the drawee/payor bank, was not a clearinghouse member, it had to rely on TAB/Fort Worth for further transmittal of the check. TASI, a processing center used by both TAB/Forth Worth and TAB/West Side, received the check on the sixth and processed it as a reject item because of insufficient funds. On the seventh, TAB/West Side determined to return the check unpaid. TASI gave M Bank Dallas telephone notice of the return on February 7 but physically misrouted…
- Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows an $14,088 debit balance and its bank statement shows $13,938 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,100. b. The June 30 bank statement lists a $100 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398. d. The June 30 cash receipts of $2,159 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Denneit of lung 20 $ DEL GATO CLINIC Bank Reconciliation June 30 13,938 Book balance Add: Error on Chart Number 010 $ 14,088The June disbursements of Lovely Company shows a total of P2,566,400. The following errors, however, were discovered relating to two checks issued by the company and cleared by the bank during the month of June.*Check #12345 was drawn for P32,300 but was erroneously recorded as P23,300.*Check #12543 was drawn for P20,000 but was erroneously recorded as P2,000. How much is the correct disbursements per books?Bank Reconciliation Entries (See next page-complete #2 first) Prepare the necessary journal entries that Mongelluzzo Food Co. must record as a result of preparing the bank reconciliation.