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.
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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
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
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
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation: Cash balance per books, 9/30 $3,120 Deposits in transit 369 Notes receivable and interest collected by bank 721 Bank charge for check printing 28 Outstanding checks 1,595 NSF check 106 Calculate the adjusted cash balance per books on September 30. a.$2,481. b.$2,587. c.$3,707. d.$1,894.
From the give Problem 2, What is the adjusted cash in bank on December 31?
Oakwood Company gathered the following reconciling information inpreparing its June bank reconciliation:Cash balance per books, 6/30 $12,600 Deposits in transit 900 Notes receivable and interest collected by bank 2,220 Bank charge for check printing 75 Outstanding checks 4,500 NSF check 420 The adjusted cash balance per books on June 30 is a. $15,225b. $14,820c. $14,325d. $15,165
The following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 9,000 Checks outstanding $ 7,400 Note collected by the bank $ 1,800 Service fee $ 33 Deposits outstanding $ 4,700 NSF check $ 330 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice $6,267. $6,300. $10,470. $8,670.
Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,046 Deposits in transit: $320 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,500; interest: $35 Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book Balance