Taekook Company's check register shows the following entries for the month of December:DescriptionBeginning balanceDate12/01/202112/05/2021 Deposit12/07/202112/11/202112/26/2021 Deposit12/29/2021 | Check # 14346ChecksDepositsBalanceP89,300P65,000154,300Check # 14344P32,50014,000121,800Check # 14345107,80049,000156,800148,2008,600Taekook's bank reconciliation for November revealed one outstanding check (No. 14343) for P12,000 (written onNovember 28), and one deposit in transit for P5,550 (made on November 29).Description12/01/2021 Beginning balanceDepositCheck No. 14344DepositCheck No. 14345Loan proceedsNSF checkService chargeInterestHow much is the adjusted cash balance on November 30, 2021?DateChecksDepositsBalanceP95,75012/01/202112/04/202112/05/202112/14/2021P5,550101,30068,800124,800P32,50056,00014,00012/15/202112/20/202112/29/2021110,800610,800603.200602,200605,800500,0007,6001,00012/31/20213,600

The bank reconciliation statement is prepared to estimate the net cash inflow or outflow from the…

nekook Company's check register shows the following entries for the month of December: Description Beginning balance Deposit Check # 14344 Check # 14345 Deposit Check # 14346 Deposits Balance P89,300 154,300 121,800 107,800 Date Checks 12/01/2021 12/05/2021 P65,000 12/07/2021 12/11/2021 12/26/2021 12/29/2021 P32,500 14,000 49,000 156,800 8,600 148,200 aekook's bank reconciliation for November revealed one outstanding check (No. 14343) for P12,000 (writter ovember 28), and one deposit in transit for P5,550 (made on November 29). Deposits Date 12/01/2021 | Beginning balance 12/01/2021 Deposit 12/04/2021 12/05/2021 12/14/2021 Description Checks Balance P95,750 101,300 68,800 P5,550 Check No. 14344 P32,500 56,000 Deposit Check No. 14345 124,800 14,000 110,800 610,800 Loan proceeds 12/20/2021 NSF check Service charge Interest ow much is the adjusted cash balance on November 30, 2021? 12/15/2021 500,000 7,600 603,200 12/29/2021 1,000 602,200 12/31/2021 3,600 605,800

nekook Company's check register shows the following entries for the month of December: Description Beginning balance Deposit Check # 14344 Check # 14345 Deposit Check # 14346 Deposits Balance P89,300 154,300 121,800 107,800 Date Checks 12/01/2021 12/05/2021 P65,000 12/07/2021 12/11/2021 12/26/2021 12/29/2021 P32,500 14,000 49,000 156,800 8,600 148,200 aekook's bank reconciliation for November revealed one outstanding check (No. 14343) for P12,000 (writter ovember 28), and one deposit in transit for P5,550 (made on November 29). Deposits Date 12/01/2021 | Beginning balance 12/01/2021 Deposit 12/04/2021 12/05/2021 12/14/2021 Description Checks Balance P95,750 101,300 68,800 P5,550 Check No. 14344 P32,500 56,000 Deposit Check No. 14345 124,800 14,000 110,800 610,800 Loan proceeds 12/20/2021 NSF check Service charge Interest ow much is the adjusted cash balance on November 30, 2021? 12/15/2021 500,000 7,600 603,200 12/29/2021 1,000 602,200 12/31/2021 3,600 605,800

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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Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash account balance for Rexrode is $21,245.75. The following data were gathered by Rexrode's accountant: Outstanding checks as of January 31: $4,895.44 ● NSF check from customer: $183.62 • Debit memo related to the returned deposit: $20.00 Credit memo for interest earned: $12.00 • Deposits in transit: $1,236.77 Required: a. Prepare a bank reconciliation for Rexrode Company at January 31. b. Indicate how each of the required adjusting entries impact the financial statements. . • Complete this question by entering your answers in the tabs below. Required A Required B Indicate how each of the required adjusting entries impact the financial statements. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Round your answers to 2 decimal places. Item Outstanding checks NSF check from a customer Debit memo related to the…
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30 $ 6,825 Deposits in transit at month-end $ 2,220 Outstanding checks at month-end $ 730 Bank service charges $ 46 EFT automatically deducted monthly, not yet recorded by Maxi $ 800 An NSF check returned on a customer account $ 475 The adjusted cash balance per the books on January 31 is: a)$7,724 b)$7,196 c)$6,663 d)$5,504
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