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? O $6,210 O $5,700 $5,810 O $5,660

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? O $6,210 O $5,700 $5,810 O $5,660

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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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.
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.
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On May 31, Mason Company's cash balance per its general ledger is $4,830. The bank's cash balance per the May 31 bank statement is $3700. The following information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding 1,900 1,600 Interest earned on bank account NSF check Service fee 70 1,300 200 What is the company's correct ending balance of cash on May 31, per the reconciliation? Multiple Choice $4,500 $4,530 $3,400
What is the amount of cash receipts per book in December? Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add: Deposit in Transit Less: Outstanding checks Bank credit recorded in error Balance per book, November 30 1,200,000 200,000 Data per bank statement for the month of December follow: December deposits, including note collected of 1,000,000 for Chris December disbursements, including NSF customer check 350,000 & service charge 50,000 3,600,000 800,000 4,400,000 1,400,000 3,000,000 5,500,000 4,400,000 1 point All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to 500,000 were outstanding and deposits of 700,000 were in transit on December 31.
A1 Service Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per books, 8/31 $28,000 Deposits in transit 1,200 Notes receivable and interest collected by bank 6,800 Bank charge for check printing 160 Outstanding checks NSF check The adjusted cash balance per books on August 31 is 16,000 1,360 $32,080. O $33,280. O $19,680. O $18,400. W
1. Aries Company provided the following information: 800,000 Balance per book, March 31 Cash receipts, April Cash disbursement, April Outstanding checks as of April 30 of which #1333 had been "certified" ○ #1331 o #1332 o #1333 o #1334 o #1335 Bank service charge DAIF Note collected by the bank Undeposited collections Balance per bank, April 30 Prepare bank reconciliation 4,100,000 3,800,000 40,000 30,000 50,000 60,000 10,000 5,000 25,000 60,000 270,000 1,000,000 statement
Calculator Thompson Company gathered the following reconciling information in preparing its October bank reconciliation. Cash balance per bank, October 31 $14,391 Note receivable collected by bank 4,306 Outstanding checks 7,664 Deposits in transit 5,297 Bank service charge 146 NSF check 2,231 Determine the cash balance per company records (before adjustment) on October 31. Oa. $12,024 Ob. $13,953 Oc. $10,095 Od. $27,352 3:09 PM 10/23/2020 8.
Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Line Item Description Amount Cash balance per bank, October 31 $15,554 Note receivable collected by bank 4,010 Outstanding checks 7,718 Deposits in transit 5,145 Bank service charge 140 NSF check 1,521 Determine the cash balance per the company’s records (before adjustments). a. $17,903 b. $10,632 c. $12,981 d. $15,330
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
Jamison Company gathered the following reconciling information in preparing its June bank reconciliation. Cash balance per bank, June 30 $10,580 Note receivable collected by bank 5,781 8,771 3,495 127 1,779 Outstanding checks Deposits in transit Bank service charge NSF check Determine the cash balance per company records (before adjustment) on June 30. a. $9,179 b. $22,846 OC. $5,304 d. $1,429