Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: Date December 1 December 6 Checks BANK STATEMENT Deposits Other Balance $ 55,200 $ 7,680 47,520 December 11 610 $ 28,000 74,910 December 17 16,900 58,010 December 23 37,000 95,010 December 26 610 94,400 December 30 23,400 19,000 NSF* $ 360 89,640 December 31 December 31 Interest earned Service charge 80 89,720 210 89,510 NSF check from J. Left, a customer. December 1 Debit Balance Deposits December 11 December 23 December 30 December 31 December 31 Balance Cash (A) Credit 55,200 28,000 Checks written during December: 7,680 37,000 610 19,000 16,900 14,000 610 210 23,400 5,400 98,390 There were no deposits in transit or outstanding checks at November 30. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B C D E Record the interest of $80 received from the bank. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit >

Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: Date December 1 December 6 Checks BANK STATEMENT Deposits Other Balance $ 55,200 $ 7,680 47,520 December 11 610 $ 28,000 74,910 December 17 16,900 58,010 December 23 37,000 95,010 December 26 610 94,400 December 30 23,400 19,000 NSF* $ 360 89,640 December 31 December 31 Interest earned Service charge 80 89,720 210 89,510 NSF check from J. Left, a customer. December 1 Debit Balance Deposits December 11 December 23 December 30 December 31 December 31 Balance Cash (A) Credit 55,200 28,000 Checks written during December: 7,680 37,000 610 19,000 16,900 14,000 610 210 23,400 5,400 98,390 There were no deposits in transit or outstanding checks at November 30. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B C D E Record the interest of $80 received from the bank. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit >

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 2E

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Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance: $10,595 Deposits in transit: $2,588 Outstanding checks: $489 Interest income: $121 NSF check: $966
Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 36,000 December 6 $ 7,520 28,480 55,030 December 11 450 $ 27,000 December 17 8,900 46,130 December 23 34,000 80,130 December 26 450 79,680 December 30 12,200 18,000 NSF* $ 200 85,280 December 31 Interest earned 20 85,300 December 31 Service charge 50 85,250 NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 36,000 Checks written during Deposits December: December 11 27,000 7,520 December 23 34,000 450 December 30 18,000 8,900 December 31 11,000 450 50 12,200 5,700 December 31 Balance 90,730 There were no deposits in transit or outstanding checks at November 30.
[The following information applies to the questions displayed below.]The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance Dec. 1 $ 45,600 6 $ 7,600 38,000 11 530 $ 27,000 64,470 17 12,900 51,570 23 35,000 86,570 26 530 86,040 30 17,800 18,000 NSF* $ 280 85,960 31 Interest earned 60 86,020 31 Service charge 130 85,890 * NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 45,600 Deposits Checks written during December: Dec. 11 27,000 7,600 23 35,000 530 30 18,000 12,900 31 12,000 530 130 17,800 4,500 Dec. 31 Balance 93,610 There were no deposits in transit or outstanding checks at November 30. After the reconciliation journal…
[The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance $ 48,000 40, 380 67,830 53,930 ৪9,938 ৪৪, 978 88,470 88,520 88,370 Dec. 1 $ 7,620 550 $28,000 13,900 11 17 23 36, 800 26 960 NSF Interest earned 30 19, eee $300 5e 19, 200 31 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 48, e00 28,e00 36, e00 19,e09 13, еев Checks written during December: 7,620 550 13,900 960 23 30 31 150 19, 200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $300 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the…
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 Checks Deposits Other Balance $ 7,200 25,200 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $18,000 $19,100 6,100 6,070 6,070 $30 Cash (A) June 1 Balance 6,800 June Deposits 19,000 19,400 Checks written June June 30 Balance 6,400
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Required Information [The following information applies to the questions displayed below.] The September bank statement and cash T-account for Terrick Company follow: BANK STATEMENT Date September 1 September 6 September 13 September 23 September 28 September 29 September 30 September 30 *NSF check from B. Frank, a customer. September 1 Deposits September 11 September 23 September 29 September 30 September 30 ? $28,000 ?$37,000 ?$19,000 ?$21,600 ?$4,180 ?$1,010 Checks ? $13,090 ? $560 $ 4,180 1,010 13,090 1,010 5,330 ? $5,330 Debit Balance ?$6.900 Deposits Balance $ 28,000 37,000 19,000 There were no deposits in transit or outstanding checks at August 31. NSF* Interest earned. service charge Cash (A) 83,100 28,000 37,000 19,000 21,600 equired: . Identify and list the deposits in transit at the end of September. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to…
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 Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Deposits Other Balance $ 7,200 25,200 6,100 6,070 6,070 $18,000 $19,100 $30 Cash (A) June 1 Balance 6,800 June Deposits 19,000 19,400 Checks written June June 30 Balance 6,400
The following data pertaining to the cash transactions and bank account of ABC Company for May 2022 are available to you:Cash balance, per accounting records, May 31, 2022 - 51,582Cash balance, per bank statement, May 31, 2022 - 95,874Bank service charge for May - 327Outstanding checks, May 31, 2022 - 20,184Deposit of May 30 not recorded by bank until June 1 - 14,610Debit memo for the cost of printed checks delivered by the bank; the charge has not been recorded in the accounting records - 375Proceeds of bank loan on May 30, not recorded in the accounting records, net of interest of P900 - 17,100Proceeds from a customer’s promissory note; principal amount P24,000, collected by the bank, taken up in the books with interest - 24,300Check No. 1086 issued to a supplier entered in the accounting records as P6,300 but deducted in the bank statement at an erroneous amount of - 3,600Stolen check lacking an authorized signature, deducted from ABC’s account by the bank in error - 2,400Customer’s…
In connection with your examination, the Caliao Company presented to you the following information regarding its Cash in Bank account for the month of December 2020: A. Balances per bank statements: November 30, P215,600 and December, P230,400. B. Balances of cash in bank account in company's books: November 30, P165,450 and December 31, P226,800. C. Total receipts per book were P2,221,900 of which P12,100 was paid in cash to a creditor on December 24. D. Total charges in the bank statement during December were P2,189,700. E. Undeposited receipts were: November 30, P90 600 and December 31, P101,200. F. Outstanding checks were: November 30, P26,750 and December 31, P19,300, of which a check for P5,000 was certified by the bank on December 26. G. NSF checks returned, recorded as reduction of cash receipts were: Returned by bank on December and recorded also in December P10,400. Returned by bank on December but recorded also in January P8,600. H. Collections by bank not recorded by…
In connection with your examination, the Caliao Company presented to you the following information regarding its Cash in Bank account for the month of December 2020: A. Balances per bank statements: November 30, P215,600 and December, P230,400. B. Balances of cash in bank account in company’s books: November 30, P165,450 and December 31, P226,800. C. Total receipts per book were P2,221,900 of which P12,100 was paid in cash to a creditor on December 24. D. Total charges in the bank statement during December were P2,189,700. E. Undeposited receipts were: November 30, P90 600 and December 31, P101,200. F. Outstanding checks were: November 30, P26,750 and December 31, P19,300, of which a check for P5,000 was certified by the bank on December 26. G. NSF checks returned, recorded as reduction of cash receipts were:  Returned by bank on December and recorded also in December P10,400.  Returned by bank on December but recorded also in January P8,600. H. Collections by bank not recorded by…
Required Information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: Date December 1 December 6 December 11 December 17 December 23 December 26 December 30 December 31 December 31 NSF check from J. Left, a customer. December 1 Deposits December 11 December 23 December 30 December 31 December 31 Checks $ 7,540 9,900 13,600 Debit Balance Balance BANK STATEMENT Deposits $ 27,000 34,000 18,000 Cash (A) 38,400 27,000 34,000 18,000 11,000 90,950 Other NSF* Interest earned Service charge Credit Checks written during December: 7,540 9,900 470 - $ 220 30 13,600 5,400 There were no deposits in transit or outstanding checks at November 30. Balance $ 38,400 30,860 57,390 47,490 81,490 81,020 85,200 85,230 85,160 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the…