8 Question: 23Mesa Tables Co. uses a four-column bank reconciliation The bankstatement reports May payments of $1,315, including service chargesof $20. At the beginning of May, there were $90 of checks outstanding.At the end of May, there were $120 of checks outstanding. Beforerecording the bank service charge; Mesa Tables must have recordedMay payments of:a. $1,325.b. $1,265.c. $1,305.d. $1,365.

Step 1: Define Bank Reconciliation:Bank reconciliation is a schedule that prepares by the company to…

Answered: Question: 23 Mesa Tables Co. uses a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 6EA: The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes...

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The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding checks: $558 Bank service charges: $50 NSF checks: $250 Prepare the correcting journal entry.
The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance: $6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
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3. Bank Reconciliation Barb Lee Inc. (BLI) is about to reconcile its bank statement for the month of May. Pertinent information follows: Bank statement balance $11,003.74. General ledger balance $8, 284.07. BLI mailed a deposit of $899.14 to the bank on May 28. The bank had not yet received it by month end. BLI issued cheques # 124 for $2,041.25; # 126 for $951.56; and #129 for $1,000 in May; however, these were not returned with the May 31 bank statement. BLI received notification that a cheque for $313 deposited to BLI's account was returned NSE. The bank levied a $32 returned cheque charge. The bank statement included a $29 service charge for the month.Required:a) Prepare the cash reconciliation for Barb Lee Inc. as at May 31. b) Prepare adjusting journal entries to correct for items noted in the cash reconciliations.
How to solve question 7-9 A
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Balance per bank $12,175 Balance per company records 9,480 Bank service charges 50 Deposit in transit 1,800 NSF check 1,250 Outstanding checks 5,795 Instructions A. What is the adjusted balance on the bank reconciliation? B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.
Question Content Area Using the following information: The bank statement balance is $5,065. The cash account balance is $5,459. Outstanding checks amounted to $866. Deposits in transit are $1,191. The bank service charge is $60. A check for $34 for supplies was recorded as $25 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co. Bank Reconciliation May 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
Enterina Company provided the following bank reconciliation on May 31: Balance per bank statement Deposits Outstanding Checks Outstanding Correct Cash Balance benibni bnatomb 2,100,000 300,000 130,000) 2.370.000 to ext Balance per book Bank Service Charge Correct Cash Balance 2,372,000 | 2,000) 2.370,000 pA p sug Eubok Data for the month of June: Bank Book Checks recorded 2,300,000 1,620,000 420,000 10,000 1,830,000 Deposits recorded Collection by Bank (P400,000 note plus interest) 2,360,000 1,800,000 NSF Check returned with June 30 statement Balances 1,810,000 29. What is the amount of checks outstanding on June 302 30. What is the amount of deposits in transit on June 30? 31. What is the adjusted cash in bank on June 302 m nouss melasineadA eeyolgm3 TARRAM

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