Prepare the bank account in the general ledger on 31 May 2021. BANKB5DATEDETAILSFOLAMOUNTDATEDETAILSFOLAMOUNT Interest of R480 received from the bank was not recorded in the cashbook.ou have been provided with the following information from the books of Zebra Traders:Information from the Bank Reconciliation Statements on the 30th April 2021The following entries appeared in the cashbooks of Zebra Traders and not in the May BankStatement:Balance as per bank statement (Favourable)17 200Outstanding deposits:Add: Outstanding deposits:10 April 2021R17 300 on the 17th May00s 8400 on the 31" May30 April 202100S 87Less: Outstanding cheques2001: Dated 10 October 2020Cheques not yet presented for payment:(2 220)2651: Dated 27 April 2021(4 150)2785 for R6 500 dated 12th May 20212691: Dated 10 May 2021(11330)2805 for R7 770 dated 25th June 2021Bálance as per bank account (Favourable)36 500The bank statement balance as at 31st May 2021 is R20 815 favourable.Cheque 2651 appeared on the bank statement for May 2021.The totals of the cashbooks before any adjustments:Deposit on the 30h April appeared on the May 2021 bank statement.Cheque 2001 has to be cancelled as the charity organisation that it was given to no longerCashbook receipts R8 500exists.Cashbook payments R4 500The outstanding deposit of R8 500 was in respect of cash received from an outstandingdebtor. This deposit has not appeared on the May 2021 bank statement and it has beendiscovered that this amount was recorded but it was never deposited. The owner hasauthorised that this amount be written off as a loss to the business. The owner has alsoundertaken to investigate who is responsible for this theft.A comparison of the May 2021 bank statement and the May 2021 cashbooks revealed thefollowing:Bank charges of R530 were not recorded in the cashbooks.Cheque number 2712 issued to creditor Mr. L lon, appeared correctly in the bankstatement as R5 630 but was incorrectly recorded in the Cashbook Payments asR6 530.A monthly stop order of R1 800 for insurance needs to be recorded in thecashbook.A dishonoured cheque for R2 355 appeared on the bank statement. This chequewas received from Miss H Yena, a debtor in settlement of her account of R2 400.

General ledger transactions are a summary of journal entries to sub-ledger accounts. It encompasses…

Answered: Prepare the bank account in the general…

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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Prepare bank reconciliation at June 30 2020.
Hi, How do I organize these transactions ? Thanks
Bramble Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred. Made Bramble credit card sales totaling $25,800. (There were no balances prior to January 15.) Made Visa credit card sales (service charge fee 2%) totaling $5,800. Collected $12,000 on Bramble credit card sales. Added finance charges of 1.5% to Bramble credit card account balances. Jan. 15 20 Feb. 10 15 Journalize the transactions for Bramble Stores. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date Jan 15 Jan. 20 Cash Debit Credit M Ç T 9 M Q Me Mu VI 65 Ac Q 59 Ace
The bank statement for Unique Fashion had an ending cash balance of $2,200 on April 30, 2022. On this date the cash balance in their general ledger was $3,678. After comparing the bank statement with the company records, the following information was determined. The bank returned an NSF cheque in the amount of $350 that Unique Fashion deposited on April 20. The NSF service fee was $9. A direct deposit received from a customer on April 29 in payment of their accounts totaling $3,780. This has not yet been recorded by the company. On April 29, the bank deposited $16 for interest earned. The bank withdrew $35 for bank service charges. Deposits in transit on April 30 totalled $4,880. Required Reconcile the ledger and bank statement and create the required journal entries. Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Select the proper order for the headings of the Bank Reconciliation. Cash balance per bank statement Add Outstanding deposit Adjusted bank…
Taekook Company's check register shows the following entries for the month of December: Description Beginning balance Date 12/01/2021 12/05/2021 Deposit 12/07/2021 12/11/2021 12/26/2021 Deposit 12/29/2021 | Check # 14346 Checks Deposits Balance P89,300 P65,000 154,300 Check # 14344 P32,500 14,000 121,800 Check # 14345 107,800 49,000 156,800 148,200 8,600 Taekook's bank reconciliation for November revealed one outstanding check (No. 14343) for P12,000 (written on November 28), and one deposit in transit for P5,550 (made on November 29). Description 12/01/2021 Beginning balance Deposit Check No. 14344 Deposit Check No. 14345 Loan proceeds NSF check Service charge Interest How much is the adjusted cash balance on November 30, 2021? Date Checks Deposits Balance P95,750 12/01/2021 12/04/2021 12/05/2021 12/14/2021 P5,550 101,300 68,800 124,800 P32,500 56,000 14,000 12/15/2021 12/20/2021 12/29/2021 110,800 610,800 603.200 602,200 605,800 500,000 7,600 1,000 12/31/2021 3,600
The bank reconciliation prepared by Gatz Company on May 31, 2020, appeared as follows: GATZ COMPANY Bank Reconciliation May 31, 2020 Bank statement balance $ 9,364.35 Book balance $19,639.00 Add: Deposit of May 31 in transit 959.00 $10,323.35 Deduct: Deduct: Outstanding cheques: NSF cheque plus service charge $11,655.65 #876 643.00 #882 1,763.00 2,406.00 Bank service charge 66.00 11,721.65 Adjusted bank balance $ 7,917.35 Adjusted book balance $ 7,917.35 The Cash account in the General Ledger appeared as follows on June 30 (Gatz uses only a General Journal to record transactions): Acct. No. Cash 101 Date Explanation PR Debit Credit Balance 2020 May 31 Balance June 1 Cheque #883 1 Cheque #884 3 Cheque #885 4 Cheque #886 9 Deposit 12 Cheque #887 7,917.35 1,850.00 6,067.35 107.00 5,960.35 618.00 5, 342.35 GJ16 GJ16 GJ16 GJ16 1,917.00 3,425.35 8,011.35 425.15 7,586.20 3,143.00 4,443.20 937.00 3,506.20 7,392.20 2,540.00 4,852.20 1,406.24 3,445.96 950.96 GJ16 4,586.00 GJ16 12 Cheque #888 12…
A ____ is an interest-bearing checking account. Group of answer choices NOW account certificate of deposit Treasury bill regular checking account Series EE US savings bond
Use the following bank statement and T-account to prepare any journal entries needed as a result of the May 31 bank recor no entry Is requlred for a transactlon/event, select "No Journal Entry Requlred" In the first account fleld.) BANK STATEMENT

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