On the bank stub held by a checking account bank client, write the beginning balance of $100.00 and the deposits and checks drawn. Extract the ending balance. Date Particulars Check No. Deposits Withdrawals Balance 2011 Sept. 5 Drawn check no. 56 for $30,000 for payable to SMI Corp. for payment of invoice 45. Sept. 8 Issued check no. 57 to Mariano Co. for advances for travel expense. The amount received is $16,000. Received payment from customer Ely Tan for $34,000 for merchandise sold to him. Issued OR 312. Sept. 10 Sept. 15 Sept. 27 Sept. 29 The bank used a debit memo $800 for cost of blank check book. Payment to the BIR for withholding taxes was $22,000. Check No. 58. Received from Marina Carlos $4,000 OR 313.

On the bank stub held by a checking account bank client, write the beginning balance of $100.00 and the deposits and checks drawn. Extract the ending balance. Date Particulars Check No. Deposits Withdrawals Balance 2011 Sept. 5 Drawn check no. 56 for $30,000 for payable to SMI Corp. for payment of invoice 45. Sept. 8 Issued check no. 57 to Mariano Co. for advances for travel expense. The amount received is $16,000. Received payment from customer Ely Tan for $34,000 for merchandise sold to him. Issued OR 312. Sept. 10 Sept. 15 Sept. 27 Sept. 29 The bank used a debit memo $800 for cost of blank check book. Payment to the BIR for withholding taxes was $22,000. Check No. 58. Received from Marina Carlos $4,000 OR 313.

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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On august 31, baginski aunt company receives its bank statement on below. The company deposit it’s receipts in the bank and makes all payments by check. The debit memo for $95 is for an NSF check written by L. Pets. Check number 925 for $47, payable to Jordan company(a creditor) was recorded in the checkbook and journal as $74. The ledger balance of cash as of august 31st are no. 928, $150 and no. 929, $292. The accountant notes that the deposit of august 31 for $599 did not appear on the bank statement. How would I prepare a bank reconciliation as of august 31, assuming that the debit memos have not been recorded, as well as journal the entries, as well as complete the bank form to determine the adjusted balance of cash?
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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $16,171 debit balance and its bank statement shows $15,541 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,669. b. The June 30 bank statement lists a $45 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2,263 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-13 Adjusting entries from bank reconciliation LO P3 Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is…
Using the following information: The bank statement balance is $4,256. The cash account balance is $4,421. Outstanding checks amounted to $878. Deposits in transit are $1,008. The bank service charge is $26. A check for $35 for supplies was recorded as $26 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $fill in the blank 3 fill in the blank 5 Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $fill in the blank 10 fill in the blank 12 Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
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Prepare a bank reconcilation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconcilation cleared the bank in July.
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