On July 31, 2022, Wildhorse Co. had a cash balance per books of $6,290.00. The statement from Dakota State Bank on that date showed a balance of $7,840.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $18.00. 2. The bank collected $1,670.00 from a customer for Wildhorse Co. through electronic funds transfer. The July 31 receipts of $1,350.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 3. Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $345.00. 4. 5. Checks outstanding on July 31 totaled $1,983.10. 6. On July 31, the bank statement showed an NSF charge of $725.00 for a check received by the company from W. Krueger, a customer, on account. Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) WILDHORSE CO. Bank Reconciliation v : 2$ 24 > > > >

On July 31, 2022, Wildhorse Co. had a cash balance per books of $6,290.00. The statement from Dakota State Bank on that date showed a balance of $7,840.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $18.00. 2. The bank collected $1,670.00 from a customer for Wildhorse Co. through electronic funds transfer. The July 31 receipts of $1,350.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 3. Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $345.00. 4. 5. Checks outstanding on July 31 totaled $1,983.10. 6. On July 31, the bank statement showed an NSF charge of $725.00 for a check received by the company from W. Krueger, a customer, on account. Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) WILDHORSE CO. Bank Reconciliation v : 2$ 24 > > > >

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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Beta corp was preparing a bank reconciliation statement as of September 30, 2018. The following were identified: Book balance =$32,800, Deposit in Transit = $4,300 Outstanding checks = $2,200 ,Interest earned on checking account =$100 Customer NSF check returned by bank =$400 Find adjusted cash balance as at September 30, 2018?
The Cash account of Ranger Security Systems reported a balance of $2,550 at December 31, 2025. There were outstanding checks totaling $800 and a December 31 deposit in transit of $100. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,910. Included in the bank balance was a collection of $670 on account from Sally Jones, a Ranger Security Systems customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger Security System earned on its bank balance. Prepare Ranger Security System's bank reconciliation at December 31. Ranger Security Systems Bank Reconciliation Bank: Balance, December 31, 2025 ADD: Deposit in transit December 31, 2025 LESS: Outstanding checks Adjusted bank balance, December 31, 2025 Book: Balance, December 31, 2025 ADD: LESS: Service charge Adjusted book balance, December 31, 2025
The accountant of CLN Company gathered the following information:- The November 30 bank statement balance included the bank service charges of P2,000.- The November 30 cash balance in the ledger was P244,500.- On November 30, outstanding checks were P63,000 while undeposited collections were P36,000.- The December bank service charges as shown on the bank statement was P3,000.- The December 31 cash balance in the general ledger was P319,750 which recognized P482,750 for Decemberreceipts and P405,500 for checks written during December. In transit to the bank at December 31 were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yetcleared the bank What is the total cash receipts per bank during the month of December?a. P490,000 b. P482,500 c. P497,250 d. P488,000
Please help me fill out this bank reconciliation showing the true cash balance.
The accountant of CLN Company gathered the following information:- The November 30 bank statement balance included the bank service charges of P2,000.- The November 30 cash balance in the ledger was P244,500.- On November 30, outstanding checks were P63,000 while undeposited collections were P36,000.- The December bank service charges as shown on the bank statement was P3,000.- The December 31 cash balance in the general ledger was P319,750 which recognized P482,750 for Decemberreceipts and P405,500 for checks written during December. In transit to the bank at December 31 were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yetcleared the bank What is the total disbursements per books for the month of December?a. P403,500b. P404,500c. P405,500d. P407,500
On July 31, 2022, Metlock Company had a cash balance per books of $6,280.00. The statement from Dakota State Bank on that date showed a balance of $7,830.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $22.00. 2. The bank collected $1,660.00 for Metlock through electronic funds transfer. 3. The July 31 cash receipts of $1,336.30 were not included in the bank statement for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. 5. Company check No. 2480 issued to L. Taylor, a creditor, for $364.00 that cleared the bank in July was incorrectly recorded as a cash payment on July 10 for $346.00. Checks outstanding on July 31 totaled $1,982.10. 6. On July 31, the bank statement showed an NSF charge of $715.00 for a check received by the company from W. Krueger, a customer, on account.
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A deposit of $25,000 made by Federal Trading appeared on the bank statement of Fidel Trading. hello, i am working on a Cash Book and did this as the entry for the statement above. would that be correct? if so can you explain how? cashbook DATE ACCOUNT TITLE DEBIT DATE ACCOUNT TITLE CREDIT 30-November-10 Accounts receivable $25000
Winson Company reported the following information related to its 31 August 2019 bank statement: i) The bank statement's balance is $3267. ii) The cash account balance is $3193. iii) The outstanding checks total $612. iv) The deposits in transit amount to $1415. v)The bank service charge is $27. vi) Winson's accountant issued a check for $153 (inpayment on an account payable) that was erroneously recorded in the ledger as $135. vii)Bank debit memorandum for$138 NSF (not sufficient funds)check from one of its customers. viii) The bank collected an account receivable in the amount of $1060 on. behalf if Winson Company. Required; Prepare Winson Company's bank reconciliation on 31 August 2019.
The accountant of CLN Company gathered the following information:- The November 30 bank statement balance included the bank service charges of P2,000.- The November 30 cash balance in the ledger was P244,500.- On November 30, outstanding checks were P63,000 while undeposited collections were P36,000.- The December bank service charges as shown on the bank statement was P3,000.- The December 31 cash balance in the general ledger was P319,750 which recognized P482,750 for Decemberreceipts and P405,500 for checks written during December. In transit to the bank at December 31 were receipts of P28,750. Checks of P15,000 written prior to December and checks of P60,500 written in December had not yetcleared the bank What is the total cash disbursements per bank during the month of December?a. P419,000b. P405,500c. P408,500d. P396,000
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On December 31, 2020 Buttercup Company had a cash balance per books of $10,922.25. The bank statement from Tampa Savings Bank on that date showed a balance of $10,356.90. A comparison of statement with the cash account revealed the following facts: a. Deposits in transit were$11,663.10.10. b. Outstanding checks at December 31 totaled $1,750.875. c. On December 31, the bank statement showed on NSF charge of 1006.50 for a check issued by Charlie Holston, a customer, to Buttercup Company on account. d. A $5,383.50 note receivable was collected by the bank for buttercup Company. The bank charged a collection fee of $43.50. e. Cash sales of $1,474.50 on December 20 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $1,399.50. The bank credited Buttercup Company for the correct amount. f. A $3,750 note receivable was collected by the bank for Bollywood Company. The bank charged a collection fee of $26.625. However the bank incorrectly…