None Question:-Realistic Sound's unadjustedbank balance amounted to $3,000.Outstanding checks amounted to $500and deposits in transit totaled $300.Based on this information alone,Realistic's adjusted cash balance is:a. $3,200b. $3,300c. $2,800d. $2,700

Step 1: Calculation of adjusted cash balance The adjusted cash balance can be calculated using…

Answered: Question:-Realistic Sound's unadjusted…

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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Using the following information: The bank statement balance is $4,044. The cash account balance is $4,369. Outstanding checks amounted to $676. Deposits in transit are $927. The bank service charge is $65. A check for $68 for supplies was recorded as $59 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $ Adjustments: $ Total adjustments Adjusted balance $ Cash balance according to company's records $ Adjustments: $ Total adjustments Adjusted balance $
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Using the following information, determine the adjusted bank balance. Bank balance: $6,925 Deposits in transit: $1,932 Outstanding checks: $584 Interest income: $130 NSF check: $275
Using the following information: a. The bank statement balance is $4,340. b. The cash account balance is $4,999. c. Outstanding checks amount to $607. d. Deposits in transit are $1,197. e. The bank service charge is $60. f. A check for $36 for supplies was recorded as $27 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Line Item Description Cash balance according to bank statement Candace Co. Bank Reconciliation May 31 Adjusted balance Cash balance according to company's records Total deductions Adjusted balance Amount Amount $
As of June 30, Year 2, the bank statement showed an ending balance of $17,806. The unadjusted Cash account balance was $16,167. The following information is available: 1. Deposit in transit, $2,195. 2. Credit memo in bank statement for interest earned in June, $14. 3. Outstanding check, $3,834. 4. Debit memo for service charge, $14. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 21
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
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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?
18 )
Using the following information: a. The bank statement balance is $4,144. b. The cash account balance is $4,565. c. Outstanding checks amounted to $807. d. Deposits in transit are $1,198. e. The bank service charge is $21. f. A check for $72 for supplies was recorded as $63 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.
please make it book balance of cash and bank balance of cash clearly
Using the following information: a. The bank statement balance is $5,050. b. The cash account balance is $5,612. c. Outstanding checks amounted to $655. d. Deposits in transit are $1,133. e. The bank service charge is $75. f. A check for $62 for supplies was recorded as $53 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 Adjustments: Total adjustments Adjusted balance Cash balance according to company's records $1 Adjustments: Total adjustments Adjusted balance %24 %24 %24 %24

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Question:-Realistic Sound's unadjusted bank balance amounted to $3,000. Outstanding checks amounted to $500 and deposits in transit totaled $300. Based on this information alone, Realistic's adjusted cash balance is: a. $3,200 b. $3,300 c. $2,800 d. $2,700