On November 30, Hernandez Company's bankstatement showed an ending balance of $37,361. Thefollowing information is available about Hernandez'saccount:Debit memo in bank statement for bank service charge,$47Deposit in transit, $3,008Outstanding checks, $3,196Customer's NSF check for $743 was returned with thebank statementRequired:b) Determine the unadjusted balance of the company'sCash account as of November 30.

Answered: Image /qna-images/answer/4528283c-8ebe-4e67-a530-8d8bdc2ee938.jpg

Answered: On November 30, Hernandez Company's…

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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The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $24,942 debit balance, but its July bank statement shows a $27,152 cash balance. b. Check Number 3031 for $1,450, Check Number 3065 for $501, and Check Number 3069 for $2,218 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification…
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