ovember and December 2020 are shown below: Nov-30 Dec-31 50,820 87,300 63,800 34,000 61,920 55,280 Book balance Book debits Book credits Bank balance Bank debits Bank credits Bank service charge Notes collected by bank on behalf of SNSD NSF checks Deposit in transit Outstanding checks Deposit of 2NE1 Corporation erroneously credited to SNSD 3,800 Check erroneously debited by the bank to SNSD Company ? 250 300 3,500 4,100 1,870 3,200 12,000 22.500 19,500| 35,700 2,900 3,000 2,500
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What is the adjustment balance of cash in bank of Mickey Mouse Corporation in December 2020?
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- Unknown Book Balance (Appendix 6.1) The following information pertains to the Cash account of Nakamoto Corporation for the month of July 2019: Required: 1. Prepare a bank reconciliation to determine Nakamotos adjusted cash balance on July 31. 2. Next Level Determine Nakamotos unadjusted cash balance (per books) on July 31. 3. Prepare the adjusting entries necessary to bring Nakamotos cash account balance up to date on July 31.Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019, and $26,850 at December 31, 2019. Net income for 2019 was $125,300 and sales revenue was $1,240,000. Required: Compute the amount of cash collected from customers using the direct method.The following data pertaining to the cash transactions and bank account of ABC Company for May 2022 are available to you:Cash balance, per accounting records, May 31, 2022 - 51,582Cash balance, per bank statement, May 31, 2022 - 95,874Bank service charge for May - 327Outstanding checks, May 31, 2022 - 20,184Deposit of May 30 not recorded by bank until June 1 - 14,610Debit memo for the cost of printed checks delivered by the bank; the charge has not been recorded in the accounting records - 375Proceeds of bank loan on May 30, not recorded in the accounting records, net of interest of P900 - 17,100Proceeds from a customer’s promissory note; principal amount P24,000, collected by the bank, taken up in the books with interest - 24,300Check No. 1086 issued to a supplier entered in the accounting records as P6,300 but deducted in the bank statement at an erroneous amount of - 3,600Stolen check lacking an authorized signature, deducted from ABC’s account by the bank in error - 2,400Customer’s…
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- The following information is produced by comparing the cash deposits and withdrawals recorded bythe S&W Windows Ltd for the month with their most recent bank statement received at 30 June2019:a. S&W Windows Ltd’ cash at bank ledger at 30 June 2019 is: $75,864b. Credit balance as per bank statement as at 30 June 2019 is: $101,160c. Bank statement shows an electronic transfer from a customer of $3,864d. Deposits in transit, $12,540e. Interest earned on bank account, $75f. Unpresented cheques, $37,407g. Service charge included in bank statement, $150h. Cheque for insurance expense, $5,370 incorrectly recorded in books as $5,910i. A dishonoured cheque written by a client Jim Smith, $3,900The entity doesn’t use special journals for record keeping. The entity prepares bank reconciliationstatement at the end of each month.Required:a) Prepare a bank reconciliation statement for S&W Windows Ltd at 30 June 2019. b) Discuss why a bank reconciliation is still necessary even most of the…Epto Ergo’s bank statement from Crypto Bank at July 31, 2020, gives thefollowing information.Balance, July 1 $18,400 Bank debit memorandum:August deposits 71,000 Safety deposit box fee $ 25Checks cleared in July 68,678 Service charge 50Bank credit memorandum: Balance, July 31 20,692Interest earned 45A summary of the Cash account in the ledger for July shows the following:balance, July 1, $18,700; receipts $74,000; disbursements $73,570;and balance, July 31, $19,130.Analysis reveals that the only reconciling items on the June 30 bank reconciliation were adeposit in transit for $4,800 and outstanding checks of $4,500. In addition, you determine thatthere was an error involving a company check drawn in July: A check for $400 to a creditor onaccount that cleared the bank in July was journalized and posted for $40.Instructionsa) Determine deposits in transit.b) Determine outstanding checks. (Hint: You need to correct disbursements for thecheck error.)c) Prepare a bank reconciliation at July…Preparation of Proof of Cash with Missing Outstanding Checks at end of year The following information were presented to you by Android Corporation in connection to your audit of its Cash in Bank account for the month of December 2020: Cash in bank account balances in company's books: November 30 -P 1,876,500; December 31 - P 1,576,500 Bank statement balances: November 30 – P 1,875,000; December 31-P 2,025,000 Bank statement debits during December were P 1,950,000. Company collections not yet deposited to the bank: November 30 –P 300,000; December 31- P А. В. C. D. 229,500. Checks issued already credited in company's accounting books but not yet paid by the bank on November 30 were P 225,000. Bank credit errors: November 30 -P 67,500; December 31 - P 25,500. F. G. Bank debit errors: November 30 -P 30,000; December 31 -P 45,000. Н. Bank credit memorandum indicating collection of notes receivable were P 187,500 in November and P 225,000 in December. Customer's NSF Check returned by bank…