Need answer the questions Mesa Tables Co. uses a four-column bank reconciliation the bankstatement reports May payments of $1,315, including service chargesof $20. At the beginning of May, there were $90 of checksoutstanding. At the end of May, there were $120 of checksoutstanding. Before recording the bank service charge; Mesa Tablesmust have recorded May payments of:a. $1,325.b. $1,265.c. $1,305.d. $1,365.

Step 1: Introduction to the Bank ReconciliationBank reconciliation is a schedule that prepares by…

Answered: Mesa Tables Co. uses a four-column bank…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 1COMP

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Similar questions

The bank reconciliation shows the following adjustments. Deposits in transit: $1,698 Notes receivable collected by bank: $2,500; interest: $145 Outstanding checks: $987 Error by bank: $436 Bank charges: $70 Prepare the correcting journal entry.
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.
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
Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance: $6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?
Catherines Cookies has a beginning balance in the Accounts Receivable control total account of $8,200. $15,700 was credited to Accounts Receivable during the month. In the sales journal, the Accounts Receivable debit column shows a total of $12,000. What is the ending balance of the Accounts Receivable account in the general ledger?
Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $5.750. The bank reconciliation for the month contained the following items: Deposits in transit Outstanding checks Interest earned NSF check returned to bank Bank service charge Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice $4,980. O $5,300. $ 770 495 20 120 20 $5,630.
The accountant of ABC Company is preparing a bank reconciliation statement for the month of October. The bank statement shows a balance of $9,719 while the ledger balance is $7,261. He compiles the following information: Description Check #3119 recorded at $1,830 Amount $1,380 a b NSF checks $500 EFT for insurance deducted $336 d EFT for rent collected $775 Service charge deducted Outstanding checks Deposit in transit Notes collected by bank e $15 f $4,036| g $3,402 h $1,450 Compute the adjusted bank balance for the month of October. а. $10,520 b. $9,070 с. $9,085 d. $8,749
Prepare the bank reconciliation on June 30 and July 31, and adjusting journal entries on July 31 * Sassy Company provided the following data for the month of July: Cash in bank Balance June 30 Book debits for July including June CM for note collected, P300,000 Book credits for July including June NSF of P100,000 and service charge of P4,000 1,000,000 4,000,000 3,600,000 Bank statement for July 1,650,000 Balance June 30 Bank debits for July including service charge of P1,000 and June outstanding checks of P854,000 Bank credits for July including CM for bank loan of P50,000 and June deposit in transit of P400,000 2,500,000 3,500,000 Your answer
Prepare bank reconciliation on October 31 and November 30, and adjusting entries on November 30. Beehive Company provided the following information: Balance per book October 31 Receipts per book for November (collection from customer, P100,000 recorded as P10,000) Disbursements per book for November (check for P300,000 in payment of account recorded as P30,000) Balance per bank statement November 30 Deposit in transit October 31 Outstanding checks November 30 Bank receipts for November including an erroneous credit of P100,000 which should have been credited to Beeline Company Bank disbursements for November including check of Beeline Company, P200,000 600,000 2,200,000 1,800,000 930,000 300,000 400,000 2,500,000 1,970,000 Your answer

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