Prepare Bryant's bank reconciliation at November 30.| E4-21 Tim Wong operates a FedEx Kinko's store. He has justreceived the monthly bank statement at May 31, 2020, fromRoyal Bank of Canada, and the statement shows an endingbalance of $595. Listed on the statement are an EFT customercollection of $300, a service charge of $12, two NSF chequestotalling $120, and a $9 charge for printed cheques. In reviewinghis cash records, Wong identifies outstanding cheques totalling$603 and a May 31 deposit in transit of $1,788. During May, herecorded a $290 cheque for the salary of a part-time employeeas $29. Wong's Cash account shows a May 31 cash balance of$1,882. How much cash does Wong actually have at May 31?

Bank reconciliation is the statement prepared by the entity for the purpose of reconciling the…

Answered: Prepare Bryant's bank reconciliation at…

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 December 31st, the cheque book balance of Bob's Burgers Ltd. was $1,301.31. The bank statement balance was $1,670.26. Cheques outstanding were $3,152.88. The statement revealed a deposit in transit of $2,815.35 as well as a bank service charge of $112.88. The company earned interest income of $44.30. Complete a bank reconciliation for Bob's Burgers Ltd. $1,332.73 $1,968.23 $1.514.04 $1,345.61 $1,414.19 $1,896.66 $1.269.89 $2.454.19
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On July 31, 2022, Carla Vista Co. had a cash balance per books of $6,335.00. The statement from Dakota State Bank on that date showed a balance of $7,885.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $19.00. 2. The bank collected $1,715.00 from a customer for Carla Vista Co. through electronic funds transfer. 3. The July 31 receipts of $1,394.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $347.00. 5. Checks outstanding on July 31 totaled $2,046.10. 6. On July 31, the bank statement showed an NSF charge of $770.00 for a check received by the company from W. Krueger, a customer, on account.…
Lowell Bank reported the following checking account fees: $2 to see a real-live teller, $20 to process a bounced check, and $1 to $3 if you need an original check to prove you paid a bill or made a charitable contribution. This past month you had to transact business through a tellet six times-a total $12 cost to you. Your bank statement shows a $305,33 balance your checkbook shows a $1,009.76 balance. You received $1.10 in interest. An $80115 deposit was not recorded on your statement. The following checks were outstanding: No. 413. $28.30, No. 414, $18.60, and No. 418, $60.72. Prepare your bank reconciliation (Input all amounts as positive values. Round your answers to 2 decimal places) Checkbook balance Add: Interest Subtotal Deduct Teller fee Reconciled balance Y BANK RECONCILIATION $ 1,009 76 Bank balance Add: 1.10 $1,010.86 12.00 $ 998 58 Deposit in transit Subtotal Deduct Outstanding checks (total) Reconciled balance - ** $ 74 $ 305.33 801.15 1,106.48 107,62 998.86

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