Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.METLOCK COMPANYBank Reconciliation, August 31, 2025County National Bank$19$>$$+9$19$ Metlock Company has just received the August 31, 2025, bank statement, which is summarized below.County National BankBalance, August 1Deposits during AugustNote collected for depositor, including $51 interestChecks cleared during AugustBank service chargesBalance, August 31DisbursementsReceipts Balance$11,927$40,99152,9181,32454,242$43,91910,3232510,29810,298The general ledger Cash account contained the following entries for the month of August.CashBalance, August 112,794 Disbursements in August 44,446Receipts during August 44,555Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395.The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared thebank during the month of August.(a)Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.

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Answered: Prepare a bank reconciliation dated…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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Logan Bruno Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance, August 1 $ 9,369 Deposits during August $32,200 41,569 Note collected for depositor, including $40 interest 1,040 42,609 Checks cleared during August $34,500 8,109 Bank service charges 20 8,089 Balance, August 31 8,089 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 10,050 Disbursements in August 34,903 Receipts during August 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,050. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. Instructions a. Prepare a bank reconciliation dated…
I'm not sure exactly what the titles are supposed to be for some of these accounts. And I'm not sure if the numbers are the totals or the subrtraction between the two columns
The following bank reconciliation is presented for HRCA Company for the month of November 2020: Balance per bank statement, Nov 30 P 3,600,000 Add: Deposit in transit 800,000 4,400,000 Less: Outstanding checks P 1,200,000 Bank credit recorded in error 200,000 1,400,000 Balance per book statement, Nov 30 3,000,000 Data per bank statement for the month of December follow: December deposits (includes note collected of P1,000,000 for Char) P 5,500,000 December disbursements (including NSF, P350,000 and service charge, P50,000) 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to P500,000 were outstanding and deposits of P700,000 were in transit on December 31. What is the unadjusted cash balance per book on December 31?
The following bank reconciliation is presented for HRCA Company for the month of November 2020: Balance per bank statement, Nov 30 P 3,600,000 Add: Deposit in transit 800,000 4,400,000 Less: Outstanding checks P 1,200,000 Bank credit recorded in error 200,000 1,400.000 Balance per book statement, Nov 30 P 3,000,000 Data per bank statement for the month of December follow: December deposits (includes note collected of P1,000,000 for Char) 5,500,000 December disbursements (including NSF, P350,000 and service charge, P50,000) 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to P500,000 were outstanding and deposits of P700,000 were in transit on December 31. What is the amount of cash disbursements per book in December?
The following information was included in the bank reconciliation for EEE Company for October and November 2020: Checks and charges recorded by bank in November, including a November service charge of P10,000 and NSF check of P50,000 1,375,000 Service charge made by in October and recorded by depositor in November 5,000 Total credits to cash in all journals during November 1,550,000 Customer's NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 100,000 Outstanding checks on October 31,2020 that cleared in November 575,000 5. What is the total amount of outstanding checks on November 30,2020?
Bank Reconciliation and Adjusting Entries (Appendix 6.1) Instructions Chart of Accounts Labels and Amount Descriptions Bank Reconciliation General Journal X Instructions Odum Corporation’s cash account showed a balance of $17,200 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,916.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $180.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $950.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March…
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Given this book and bank statement information, create an October bank reconciliation for Arrowhead company. And the journal entries required for the book side. BOOK INFO: Cash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck 10102 Accounts Payable 1,374.12 6,885.74 10/2/2020 Ck 10103 Rent 3,420.00 3,465.74 10/2/2020 Ck 10104 Utilities 689.00 2,776.74 10/4/2020 Deposit 3,743.10 6,519.84 10/4/2020 Ck 10105 Advertising 344.21 6,175.63 10/4/2020 Ck 10106 Subscription 102.84 6,072.79 10/9/2020 Ck 10107 Internet 74.97 5,997.82 10/9/2020 Deposit 4,859.47 10,857.29 10/9/2020 Ck 10108 Telephone 221.00 10,636.29 10/9/2020 Deposit 11,339.64 21,975.93 10/12/2020 Ck 10109 Accounts Payable 1,680.00 20,295.93 10/13/2020 Ck 10110 Wages…
The following information was included in the bank reconciliation for EEECompany for October and November 2020: Checks and charges recorded by bank in November, including a November service charge of P10,000 and NSF check of P50,000 1,375,000 Service charge made by in October and recorded by depositor in November 5,000 Total credits to cash in all journals during November 1,550,000Customer’s NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 100,000 Outstanding checks on October 31,2020 that cleared in November 575,000 What is the total amount of outstanding checks on November 30,2020? FFF Company had the following bank reconciliation on June 30, 2020:
The following information is available for the Awesome Company on March 31, 2021:Bank statement balance, March 31 - P146,570Note collectedly bank, including interest of P2,500, not yet taken up in the books - P62,500NSF check returned with the bank statement - P21,260Outstanding checks as of March 31 - P68,740Bank service charges for March - P1,285Credit memo for interest credited by bank for the month of March - P105What is the correct cash balance at March 31?
The following information is extracted from the bank statement and the accounting records of Sun Corporation for the month of July, 2019: Cash balance from books, July 31 $2,000.35 Cash balance from bank, July 31 2,021.20 NSF check returned by bank with bank statement 81.00 Note collected by bank on July 31 190.00 Interest on preceding note 5.50 Bank service charge for July 3.40 Outstanding checks at end of July 150.00 Deposit in transit at the end of July 240.25 Required: 1. Prepare a bank reconciliation for Sun on July 31, 2019. 2. Prepare the journal entries necessary to adjust Sun’s books on July 31, 2019. Prepare a bank reconciliation for Sun on July 31, 2019. Bank Reconciliation Instructions Sun Corporation Bank Reconciliation July 31, 2019 1 Balance from bank statement 2 Add: 3 4 5 Deduct: 6 7 Adjusted cash balance…
The following bank reconciliation is presented for O00 Company for the month of November of the current year: Balance per bank statement, November 31 Add: Deposit in transit 3,600,000 800,000 4,400,000 Less: Outstanding checks 1,200,000 200,000 Bank credit recorded in error 1,400,000 3,000,000 Balance per book, November 30 Data per bank statement for the month of December follow: December deposits (including note collected of P1,000,000 for O00) December disbursements (including NSF, P350,000 and Service charge, P50,000) 5,500,000 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, P500,000 December 31. including the bank credit. outstanding and deposits addition, of P700,000 checks in amounting transit In to were were of 16. What is the cash balance per ledger on December 31? 17. What is the amount of cash receipts per book in December? 18. What is the amount of cash disbursements per book in December? 19. What is the adjusted bank balance?

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