abc general accounting answer me? Marlon, Inc., reported a balance of $143 in its cash account atthe end of the month There were $120 of deposits in transit and$115 of checks outstanding The bank statement showed abalance of $150, service charges of $6, and the collection of anote plus interest The note had a face value of $15. How muchinterest did the bank collect for the company?a. $18b. $ 3c. $24d. $12

Step 1: Definition of Bank ReconciliationBank reconciliation is an internal control process that…

Answered: Marlon, Inc., reported a balance of…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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How much interest did the bank collect for the company ?
How much interest did the bank collect for the company ? General accounting
Marlon, Inc., reported a balance of $133 in its cash account at the end of the month. There were $120 of deposits in transit and $105 of checks outstanding. The bank statement showed a balance of $140, service charges of $7, and the collection of a note plus interest. The note had a face value of $25. How much interest did the bank collect for the company? a. $4 b. $3 c. $24 d. $12
Marlon, Inc. reported a balance of $143 ub uts cash account at the end of the month. There were $120 of deposits in transit and $115 of checks outstanding. The bank statement showed a balance of $150, service charges of $6, and the collection of a note plus interest. The note had a face value of $15. How much interest did the bank collect for the company? a. $18 b. $3 c. $24 d. $12
NEVERMIND Company reported a balance of $43,000 in its Cash account at the end of the month. There were $20,000 deposits in transit and $15,000 of outstanding checks. The bank statement showed a balance of $50,000, service charges of $6,000 and the proceeds of note collected by the bank for the company. The note had a face value of $15,000? The interest on the note collected by the bank was a. $9,000 b. $6,000 c. $3,000 d. $12,000
The following information is for Ivanhoe Company in September: 1. Cash balance per bank, September 30, $6,900. 2. Cash balance per books, September 30. $5.330. 3. Outstanding cheques. $3,020. 4. Bank service charge, $23 5. NSF cheque from customer, $220. 6. Deposits in transit, $1,350 7. EFT receipts from custormers in payment of their accounts, $80. Cheque #212 was correctly written and posted by the bank as $429. Ivanhoe Company had recorded the cheque as $492 in error. The cheque was written for the purchase of supplies 8. Prepare a bank reconciliation at September 30, 2021. (List items that increase balance as per bank & books first.) IVANHOE COMPANY Bank Reconciliation September 30, 2021 6.900 Cash balance per bank statement Add V: Deposits in transit Less Error intheque No. 212: Supplies 3,020 Outstanding cheques 5.330 Adjusted cash balance per books Add v EFT collection of Accounts Receivable Cheque printing charge
Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,450, outstanding checks of $3,900, an NSF check of $2,600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3,400. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)?
CASE ACCOUNTING Empire Ltd had a cash balance per book of $ 40,690.50 on Jun 30, 2022. The bank statement from North Pole Bank showed a balance of $40,947.60. After rechecking, some information was found: 1. Empire deposited $5,016.90 in the bank for cash sales on June 11. The cash receipts journal entry and the deposit slip were incorrectly made for $5,160.90. The bank credited Empire company for the correct amount. 2. 3. 4. 5. 6. Notes receivable were collected by the bank for Empire on Jun 30 in the amount of $18,000 plus $520 interest. North Pole Bank charged $120 for the collection fee. Non-sufficient fund check of $1,920 for a check issued from Dr.Bernett, a customer, showed on the Empire bank statement. Canceled check was a check issued by Silicon valley Ltd to Mr.Hawkeye for $5,700 that was canceled and charged to Empire by the bank. Issued check no 110 for $4,710 to Terracotta on the account. The check was incorrectly journalized and posted by Empire for $4,170. Outstanding…
COMPANY A, reported a balance of ₱ 45,000.00 in its Cash account at the end of the month. There were ₱ 20,000.00 deposits in transit and ₱ 15,000.00 outstanding checks. The bank statement showed a balance of ₱ 65,000.00 including a note with face value of ₱ 25,000.00 and a ₱ 5,000.00 service charge. How much is the interest on the note collected by the bank?
Company's Balance Sheet
The April 30 bank statement for Trimble Corporation shows an ending balance of $37,169. The unadjusted cash account balance was $30,950. The accountant for Trimble gathered the following information: 1. There was a deposit in transit for $4,778. 2. The bank statement reports a service charge of $104. 3. A credit memo included in the bank statement shows interest earned of $455. 4. Outstanding checks totaled $12,316. 5. The bank statement included a $1,670 NSF check deposited in April. What is the true cash balance as of April 30? Multiple Ch ice $27,961 $29,631 $34,409 $33,954
Bridgeport Company's bank statement for the month ended January 31 showed a balance per bank of $34,728. The company's Cash balance at January 31 was $16,398. Other information is as follows: 1. 2. 3. 4. 5. 6. 7. Cash receipts for January were $87,679, of which $5,295 was outstanding at January 31. The bank statement shows a debit memorandum for $135 for cheque printing charges. Cheque no. 119 payable to Sunland Company was recorded in the general journal and cleared the bank for $343. A review of the Accounts Payable subsidiary ledger shows a $131 credit balance in the account of Sunland Company and that the payment to it should have been for $474. The total amount of cheques written during January was $75,126, of which $5,979 was outstanding at January 31. Cheque No. 127 was correctly written and paid by the bank for $109. The general journal reflects an entry for cheque no. 127 as a debit to Accounts Payable and a credit to Cash for $190. The bank returned an NSF cheque from a…

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