Outstanding checks, $1,040 • Deposits in transit, $690. • Bank service charges, $135 • The bank had collected an account receivable for Rainey Company, $1,450 . The bank statement included an NSF check written by one of Ramsey's customers for $870. What was the unadjusted book balance at October 31? Multiple Choice O O O O $7,250 $6,455 $7,905 $6,590

Outstanding checks, $1,040 • Deposits in transit, $690. • Bank service charges, $135 • The bank had collected an account receivable for Rainey Company, $1,450 . The bank statement included an NSF check written by one of Ramsey's customers for $870. What was the unadjusted book balance at October 31? Multiple Choice O O O O $7,250 $6,455 $7,905 $6,590

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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Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $11,557 debit balance and its bank statement shows $10,864 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,522. b. The June 30 bank statement lists a $20 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 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 $398. d. The June 30 cash receipts of $2,204 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance Add: Deduct: Adjusted bank balance DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct: Adjusted book balance
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Required information [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $15,573 debit balance and its bank statement shows $15,890 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,925. b. The June 30 bank statement lists a $70 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $489 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 $498. d. The June 30 cash receipts of $2,547 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.
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