Question-Given the followinginformation, what amount would berecorded for cash on the balance sheet?Balance per bank $ 98,500Balance per books $103,150Auto pay on a loan $9,400Bank fees $350NSF check $1,200Outstanding checks $14,200Outstanding deposits $8,100Recorded a deposit for $1,000 that was really $1,200 (bank recorded itcorrectly)

Step 1: Define Bank Reconciliation:Bank Reconciliation is used to bring the cash balance in the book…

Answered: Question-Given the following…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...

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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
What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the bank statement? a. Cash 250 DR; NSF Check 250 CR b. Accounts Receivable 250 DR; Cash 250 CR c. NSF Check 250 DR; Accounts Receivable 250 CR d. Cash 250 DR; Accounts Receivable 250 CR e. Cash 250 DR; Miscellaneous Expense 250 DR
Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 Bank charges: $35 Notes receivable: $1,325; interest: $235
The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Prepare the correcting journal entry.
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Which of the following item, have been recorded on the company's books but not yet by the bank: ered f1.00 Select one: stion a. Cash per bank b. Outstanding checks c. Cash per book d. Deposits in transit
Problem Solving. 1. Assuming the following information for Uno Company: bank balance P65,000; book balance ? ; deposit in transit P11,000; outstanding check P10,000; credit memo P2,000; and debit memo P500. How much is the adjusted bank balance?
From the following, prepare a bank reconciliation statement from details as on 1 November 2022: $ Cash at bank as per bank column of the cash book 36,000 Unpresented cheques 8,400 Cheques received and paid into the bank, but not yet entered on the bank statement 7,200 Credit transfer entered as bank on the bank statement but not yet entered in the cash book 1,200 Cash at bank as per bank statement 38,400
What is the cash balance per books at November 30, 2021?
A bank has the following balance sheet. It expects a net deposit drain of $500,000. Assets Liabilities and Equity Cash $300,000 Deposits $3,115,000 Loans 2,000,000 Equity 385,000 Securities 1,200,000 Total Asset $3,500,000 Total Liabilities and Equity $3,500,000 What is a net deposit drain and why is it of concern for the bank? Show the bank’s balance sheet if it uses stored liquidity to offset the expected drain.
Use the following to answer questions 1 – 4 Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Cash or Cash Equivalent? (Yes or No) Item 1 Accounts receivable 2 30 day treasury bill 3 Checks 4.93 day Certificate of Deposit

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