Jonas Company gathered the following reconciling information in preparing its April bank reconciliationCash balance per books, 4/30$2,200Deposits in transit300Notes receivable and interest collected by bankBank charge for printing checks74025Outstanding checks1,500NSF check140The adjusted cash balance per books on April 30 isOA. $2,775OB. $2,940OC. $3,055D. $3,075

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Jonas Company gathered the following reconciling information in preparing its April bank reconciliation Cash balance per books, 4/30 Deposits in transit Notes receivable and interest collected by bank Bank charge for printing checks Outstanding checks NSF check The adjusted cash balance per books on April 30 is OA. $2,775 OB. $2,940 OC. $3,055 OD. $3,075 $2,200 300 740 25 1,500 140

Jonas Company gathered the following reconciling information in preparing its April bank reconciliation Cash balance per books, 4/30 Deposits in transit Notes receivable and interest collected by bank Bank charge for printing checks Outstanding checks NSF check The adjusted cash balance per books on April 30 is OA. $2,775 OB. $2,940 OC. $3,055 OD. $3,075 $2,200 300 740 25 1,500 140

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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Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation. Cash balance per company records, September 30 $2,607 Deposits in transit 474 816 21 Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check Determine the adjusted balance on September 30. a. $2,156 b. $1,501 Oc. $3,262 Od. $2,296 1,580 140
The treasurer preparing the October bank reconciliation identified the following items: Cash balance per the company's records $32,700, Deposits in Transit $4,300, Outstanding Checks $2,200, Interest earned on the checking account $200, Customer NSF check $400. What is the company's adjusted cash balance at Oct. 31? A. $34,900 B. $32,700 C. $32,500 D. $34,800
Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,220 Deposits during June $ 18,100 25,320 Checks cleared during June $ 19,200 6,120 Bank service charges $ 40 6,080 Balance, June 30 6,080 Cash (A) June 1 Balance 7,220 June Deposits 19,200 19,500 Checks written June June 30 Balance 6,920 Required: Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. How would i fill out the bank reconcilliation for this problem?
Below is Huru's Company information for the preparation of proof of cash: Nov 30 Dec 31 A Cash Account Balance 15,822 39,745 B Bank Statement Balance 107,082 137,817 C Deposit in Transit. 8,201 12,880 D Outstanding Checks 27,718 30,112 E Bank Service Charge 72 60 F Customer's chck deposited 9,250 Dec 10, returned due to NSF G Notes receivable collection 71,815 80,900 Receipts balance per book 235, 452 Disbursements as per bank 212 529 Prepare the proof of cash and answer the following questions Adjusted cash balance How much is the cash shortage How much is the adjusted receipts and disbursement
Franklin Company deposts all cash receipts on the day they are received and makes all cash payments by check. At the dove of business on August 31. as Cash account shows a debit balance of $13362 Franke's August tiank statement shows a $14.237 balance in the bank Determine the adjusted cash balance using the following information Deposit in transit Outstanding checks Bank service fees, not yet recorded by company The bank collected on a note receivable, not yet recorded by the company The adjusted cash balance should be O O O C $1873 $10.333 SHUBEY saja Help Seve&ait $4,500 $3,000 $50 $1,725
Jones Company collected the following information to prepare its May bank reconciliation: Cash balance per books, May 31 $5,300 Deposits in transit 510 Notes receivable with interest collected by bank 580 Bank service charges 30 Outstanding checks 180 NSF check 150 How much is the adjusted cash balance per books on May 31? $6,210 $5,700 $5,810 $5,660
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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 Rp 5.200.000,00 Add : Deposits in Transit Rp 1.211.000,00 Rp 6.411.000,00 Less Outstanding Checks Rp 1.462.000,00 Adjusted cash balance per bank Rp 4.949.000,00 The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp 10.094.000 Rp 884.000 Collection of electronic funds transfer Interest earned on checking accounts NSF check: R. Doll Rp 26.000 Rp 245.000 Safety deposit box rent Rp 35.000 Cash balance per books Rp10.094.000 Add: *** ... Less NSF Check Rp245.000 Adjusted cash balance per books
Conway Company reported the following information: Cash balance on balance sheet (12/31) $22,066 Pre-reconciliation cash account balance (12/31) 23,916 Bank statement (12/31) 23,220 Bank service charges 350 Bank debit memos (utility payments) 1,500 Deposits in transit (12/31) 9,160 Required: Question Content Area 1. Calculate the amount of outstanding checks as of December 31.
Prepare a bank reconcilation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconcilation cleared the bank in July.
Singleako Company has the following data for the Month of December. November 30 December 31 Cash in bank Account Statement 2,032,000 3,160,000 Bank Statement 1,890,000 2,900,000 Bank Debits 1,080,000 Bank Credits ? Book Debits ? Book Credits 1,440,000 Outstanding Checks Deposit in Transit Check erroneously charged by the bank against Entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by the entity when Placed with bank for collection 180,000 592,000 80,000 498,000 40,000 50,000 2,000 4,000 (Note is actually collected by the bank in subsequent Month and credited by bank to entity's account in same Month) 200,000 300,000 Required: Prepare four-column reconciliation showing the adjusted balances. Prepare adjusting entry/ies.
Using the following information: The bank statement balance is $5,289. The cash account balance is $5,764. Outstanding checks amounted to $751. Deposits in transit are $1,174. The bank service charge is $43. A check for $71 for supplies was recorded as $62 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: $fill in the blank 3 fill in the blank 5 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: $fill in the blank 10 fill in the blank 12 Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14