Export PDF as long image without watermarkExportFUNDAMENTALS OF ACCOUNTANCY BUSINESS AND MANAGEMENT 2Self-Learning Activity 9NameYear/Block:DateDirection: Write your answers on the space provided at the back of this Self Learning Activity.Learning Objective:After reading the module, the learners shall be able to:4. Describe the nature of a bank reconciliation statement.5. Identify common reconciling items and describe each of them.6. Analyze the effects of the identified reconciling items.Reference: Quarter 1 Module 9 – Fundamentals of Accountancy, Business and Management 2LEARNING ACTIVITY 9:1Presented hereunder are the details of your Cash Receipts Journal, Cash Disbursements Journal and the BankStatement of Banco de Oro.Cash Receipts JournalO.R. NumberAmountPayorOdessa AleraDate0001P 30,000June 30002000320,0005,00020Arnold Navales29Juanita Nambatac000410,00030Kyle JamoraCash Disbursements JournalCheck NumberAmountPayeeStar 5 GroceryDX Convenience StoreDateP 5,0007,0006581June 5.65821510,0008,0009,00021MY Store6583Eddie GomezRodolfo de la Torre658465852528Banco de OroBank StatementFor the month of June, 20ADateWithdrawalDepositBalanceJune 4P 30,000P 30,00025,00045,000156581P 5,0002120,0002565848,00037,0002865859,00028,000MAASIM GROCERYMaasim, SaranganiCount- CreditsCount - DebitBalance Last StatementP 50,00022,000P 28,0003ProvinceAnswer the following questions:(Pertaining to Cash Receipts Journal and Deposit column of the bank statement)1. How much is the total of your Cash Receipts Journal?Answer:2. How much is the total of your Cash Disbursement Journal?Answer: -.3. How much is the General Ledger balance of your Cash in Bank account as of 30 June 20A?Answer:4. How much is the total deposit column of Banco de Oro bank statement?Answer:5. Comparing the total of your Cash Receipts Journal and the deposit column of the bank statement, how much isthe amount of difference?Answer:6. What do you call the amount of difference between your total Cash Receipts Journal against the deposit columnof the bank statement?Answer::7. What do you do with this amount of difference? Are you going to add to or deduct from the unreconciled bankbalance for the month of your bank reconciliation?Answer:(Pertaining to Cash Disbursements Journal and Withdrawal column of the bank statement)1. How much is the total withdrawal column of the bank statement?Answer:2. How much is the amount of difference between your Cash Disbursements Journal and the total withdrawalcolumn of the bank statement?-Answer:------3. What do you call the amount of difference between your Cash Disbursements Journal and the total withdrawal

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(Pertaining to Cash Receipts Journal and Deposit column of the bank statement) 1. How much is the total of your Cash Receipts Journal? Answer: 2. How much is the total of your Cash Disbursement Journal? Answer: 3. How much is the General Ledger balance of your Cash in Bank account as of 30 June 20A? Answer:, 4. How much is the total deposit column of Banco de Oro bank statement? Answer: 5. Comparing the total of your Cash Receipts Journal and the deposit column of the bank statement, how much is the amount of difference? Answer:

(Pertaining to Cash Receipts Journal and Deposit column of the bank statement) 1. How much is the total of your Cash Receipts Journal? Answer: 2. How much is the total of your Cash Disbursement Journal? Answer: 3. How much is the General Ledger balance of your Cash in Bank account as of 30 June 20A? Answer:, 4. How much is the total deposit column of Banco de Oro bank statement? Answer: 5. Comparing the total of your Cash Receipts Journal and the deposit column of the bank statement, how much is the amount of difference? Answer:

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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After posting the journal entries to the Cash T-account, the balance in the Cash T- account should equal the True Cash Balance on the Bank Reconciliation the Cash Balance per Books O today's Cash Balance on the Bank's internet site. the Cash Balance per Bank
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Can i please get help with this practice question? 7.6 The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31. On July 31, the company’s Cash account has a $24,854 debit balance, but its July bank statement shows a $26,714 cash balance. Check Number 3031 for $1,310, Check Number 3065 for $431, and Check Number 3069 for $2,078 are outstanding checks as of July 31. Check Number 3056 for July rent expense was correctly written and drawn for $1,280 but was erroneously entered in the accounting records as $1,270. 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. 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. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous…
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How do you record a debit card purchase in Quickbooks? A. Use the Enter Bills window to enter the information, then immediately go to the Pay Bills window and prepare th check. B. Prepare a journal entry to debit the expense account of the purchase and credit cash. C. Wait until you do the bank reconciliation and enter one journal entry for all of your debit card purchases. D. Using the Write Checks window, in the No. field,type “Debit.” Enter the vendor name and amount in the check area.
is the answer to this question correct If you received a check from Mr. Jones for $500 for work you performed last week, which journal would you use to record receipt of the amount they owed you? What would be recorded? This transaction will be recorded in the Cash Receipts Journal. The receipt of cash from the sale of goods, as payment on accounts receivable or from other transactions, is recorded in a cash receipts journal with a debit to cash and a credit to the source of the cash, whether that is from sales revenue, payment on an account receivable, or some other account. Chapter 7 Accounting Information Systems out of Principles of Accounting, Volume 1. CASH RECEIPTS JOURNAL Date Account Cash DR Accounts Receivable CR 2022 Mar.13 Mr. Jones $ 500 $ 500
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Indicate with Yes or No whether each of items should be included in the cash balance presented on the balance sheet. If yes is selected for the Included in Cash Balance column for NSF checks, Savings account,Compensating balance,post dated checks,IOU,cash on hand,cash in sinking fund, travel advance, bank draft and prepaid debit card. Include the Classification items excluded?
do i add the opening balance after the difference of opening balance of bank statement and cash book gives me zero when i update the cash book?
The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, current year, bank statement and the April ledger accounts for cash showed the following (summarized): Balance, March 31, current year Deposits during April Notes collected for company (including $83 interest) Cheques cleared during April NSF cheque-A. B. Wright Bank service charges Balance, April 30, current year Mar. 31 Balance Apr. Deposits Bank Statement Apr. 30 Balance Cash in Bank 24,800 43,450 Apr. Cheques written Cash on Hand 230 Cheques Deposits Balance $33,600 71,000 72,310 26,510 26,337 26, 254 26,254 $45,800 173 83 $ 37,400 1,310 42,400 A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $5,400 are still outstanding at April 30. No deposits in transit were carried over…