Provide this question general accounting solutions Jayden Oriole owns Oriole Electric and indicates on December 31 the unadjusted balance per hisbooks is $9,283 and the unadjusted balance on his bank statement is $7,052.Prepare a bank reconciliation given the following:a. Outstanding cheques of $1,270.b. Deposits in transit of $5,570.c. Debit memorandum for a bank service charge of $21.d. EFT of $2,090 from a customer for goods received.

Step 1: Define Bank ReconciliationA bank reconciliation is an internal working paper prepared to…

Answered: Jayden Oriole owns Oriole Electric and…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35
The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book balance: $13,744. Deposits in transit: $2,509. Outstanding checks: $1,777. Bank charges: $125. Bank incorrectly charged the account for $412. The bank will correct the error next month. Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.
The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding checks: $558 Bank service charges: $50 NSF checks: $250 Prepare the correcting journal entry.
Jayden Carla Vista owns Carla Vista Electric and indicates on December 31 the unadjusted balance per his books is $7,882 and the unadjusted balance on his bank statement is $5,988. Prepare a bank reconciliation given the following: (a) Outstanding cheques of $1,080 (b) Deposits in transit of $4.730 (c) Debit memorandum for bank service charge of $14 (d) EFT of $1,770 from a customer for goods received. (List items that increase balance as per bank & books first.) Carla Vista Electric Bank Reconciliation
The bank statement for Clive Company indicates a balance of $30,000 on September 30, 2021. After the journals for September had been posted, the cash account in the depositor's books had a balance of $27,800. The following reconciling items are available to prepare a bank reconciliation for Clive Company. (i) Bank debit memorandum for service charges, $250. (ii) Bank credit memorandum for interest earned, $2,105. (iii) Bank debit memorandum for $300 NSF (not sufficient funds) check from a customer. (iv) Cash sales of $480 had been erroneously recorded in the cash account as $448. (v) A check paid for $1,250 was erroneously recorded by the bank in the bank statement as $1,350. (vi) Checks outstanding, $1,463. (vii) Deposits in transit not recorded by bank, $750. Required: Prepare the bank reconciliation for Clive Company as of September 30, 2021.
The bank statement for Betty Company indicates a balance of $20,000 on September 30, 2021. After thejournals for September had been posted, the cash account in the depositor's books had a balance of $19,800.The following reconciling items are available to prepare a bank reconciliation for Betty Company.(1)Bank debit memorandum for service charges, $60.() Bank credit memorandum for interest earned, $374.(in) Bank debit memorandum for $170 NSF (not sufficient funds) check from a customer.(iv) Cash sales of $450 had been erroneously recorded in the cash account as $324.(v)A check paid for $980 was erroneously recorded by the bank in the bank statement as $1,530.(vi) Checks outstanding, $1,180.(vi) Deposits in transit not recorded by bank, $700.Required:Prepare the bank reconciliation for Betty Company as of September 30, 2021
The bank statement balance is $3,500 and shows a service charge of $24 , interest earned of $3, and an NSF cheque for $100. Deposits in transit total $1,400; outstanding cheques are $450. The bookkeeper mistakenly recorded as $158 a cheque of $132 in payment of an account payable. Prepare Bank Reconciliation Statement Prepare Adjusting Entries.
Using the following information, prepare a bank reconciliation for Cullumber Company for July 31, 2022. a. The bank statement balance is $3,700. b. The cash account balance is $4,100. C. Outstanding checks totaled $1,260. d. Deposits in transit are $1,620. e. The bank service charge is $31. f. A check for $87 for supplies was recorded as $78 in the ledger.
The bank statement balance is $3,500 and shows a service charge of $24 , interest earned of $3, and an NSF cheque for $100. Deposits in transit total $1,400; outstanding cheques are $450. The bookkeeper mistakenly recorded as $158 a cheque of $132 in payment of an account payable. 1. Prepare Bank Reconciliation 2. Prepare the adjusting entry
Complete a Bank Reconciliation for the following: On March 31st the checkbook balance of Dust Bunnies Cleaning Co. was $2,568. The bank statement was $3,254.50. Checks outstanding were $2,788. The statement revealed a deposit in transit of $2,125 as well as a bank service charge of $11.50. The company earned interest income of $35.00. Complete a bank reconciliation for Dust Bunnies Cleaning Co.
Based on the following data, prepare a bank reconciliation for December of the current year: a. Balance according to the bank statement at December 31, $283,000.b. Balance according to the ledger at December 31, $245,410.c. Checks outstanding at December 31, $68,540.d. Deposit in transit, not recorded by bank, $29,500.e. Bank debit memo for service charges, $750.f. A check for $12,700 in payment of an invoice was incorrectly recorded in the accounts as $12,000. Kornett CompanyBank ReconciliationDecember 31, 20Y8 choices: Bank svc chg; Cash balance according to bank stmt; Cash balance according to company's stmt; Cash; Petty cash $ choices: Add error in recording check; Add deposit in transit-not recorded by bank; Deduct error in recording check; Deduct deposit in transit-not recv'd by bank; Deduct bank svc chg choices: Add error in recording check; Add outstanding checks; Add bank svc chg; Deduct bank svc chg; Deduct outstanding checks Adjusted balance $…

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