!Required information[The following information applies to the questions displayed below.]Hills Company's June 30 bank statement and the June ledger account for cash are summarized here:BANK STATEMENTChecksBalance, June 1Deposits during JuneChecks cleared during JuneBank service chargesBalance, June 30Deposits Other Balance$ 7,20025,2006,1006,070$18,000$19,100$306,070Cash (A)June 1Balance6,800JuneDeposits19,00019,400Checks written JuneJune 30Balance6,4004. In addition to the balance in its bank account, Hills Company also has $300 of petty cash on hand. This amount isrecorded in a separate T-account called Petty Cash on Hand. What is the total amount of cash that should be reportedon the balance sheet at June 30?Total Amount of Cash

A bank reconciliation statement aligns a corporation's bank account with its accounting records by…

Required information [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Deposits Other Balance $ 7,200 25,200 6,100 6,070 6,070 Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,000 $19,100 $30 Cash (A) June 1 June Balance Deposits 6,800 19,000 19,400 Checks written June June 30 Balance 6,400 4. In addition to the balance in its bank account, Hills Company also has $300 of petty cash on hand. This amount is recorded in a separate T-account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30? Total Amount of Cash

Required information [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Deposits Other Balance $ 7,200 25,200 6,100 6,070 6,070 Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,000 $19,100 $30 Cash (A) June 1 June Balance Deposits 6,800 19,000 19,400 Checks written June June 30 Balance 6,400 4. In addition to the balance in its bank account, Hills Company also has $300 of petty cash on hand. This amount is recorded in a separate T-account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30? Total Amount of Cash

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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The following information was available to reconcile A.C. Forrest Company's book cash balance with its bank statement as of June 30, 2020: The June 30 cash balance according to the accounting records was $14,630. Oustanding checks from May's bank reconciliation: Check # 229 $770 Check # 230 540 Below is a record of the cash receipts and cash payments for June: Cash Deposits Cash Payments Date Amount Check# Amount Jun 2 $3,600 231 $1,500 Jun 5 4,210 232 7,510 Jun 11 5,230 233 1,800 Jun 17 4,500 234 3,230 Jun 23 3,350 235 1,100 Jun 27 5,100 236 1,250 Jun 30 5,390 237 6,270 238 1,650 239 820 240 1,430 241 740 242 1,310 243 2,190 244 5,300 Continued…
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! Required information [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 September 1 September 10 September 30 Debit Balance September 30. Balance Checks Total Amount of Cash # 101 # 102 # 103 BANK STATEMENT Deposits $ 810 1,720 2,310 Cash (A) 2,020 3,030 810 2,550 1,720 2,310 50 2,710 $ 3,030 NSF check EFT deposit Service charge Credit Other September 10 September 15. September 22 September 28 # 101 # 102 # 103 # 104 $ 100 155 20 Balance $ 2,020 1,920 4,950 4,140 2,420 110 265 245 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company's customers. 4. If the company also has $420…
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Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,320 Deposits during June $ 18,600 25,920 Checks cleared during June $ 19,700 6,220 Bank service charges $ 31 6,189 Balance, June 30 6,189 Cash (A) Debit Credit June 1 Balance 7,320 June Deposits 20,200 20,000 Checks written June June 30 Balance 7,520 E5-5 (Algo) Part 1 Required:1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June.
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