Financial Accounting Sunrise Enterprises gathered the following reconciling items for its cash account:-Cash balance per book on 6/30: $4,500-Deposit in transit: $300-Notes receivable and interest collected by the bank: $1,200-Bank charge for check printing: $30-Outstanding checks: $2,100-NSF check: $200Find the adjusted cash balance per book on June 30.

Step 1: Definition of Adjusted Cash Balance per BookThe adjusted cash balance per book refers to the…

Answered: Sunrise Enterprises gathered the…

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 7E

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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
Given the following information, determine the adjusted cash balance per books from the following information: a. Balance per books as of June 30, $8,600. b. Outstanding checks, $820. C. NSF check returned with bank statement, $130. d. Deposit mailed the afternoon of June 30, $300. e. Check printing charges, $30. f. Interest earned on checking account, $12. Adjusted cash balance per books $
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Given the following information, determine the adjusted cash balance per books from the following information: a. Balance per books as of June 30, $8,600. b. Outstanding checks, $820. с NSF check returned with bank statement, $130. d. Deposit mailed the afternoon of June 30, $300. e Check printing charges, $30. Interest earned on checking account, $12. Adjusted cash balance per books $
Given the following information, determine the adjusted cash balance per books. a. Balance per books as of June 30, RO 7,500.b. Interest earned on checking account, RO 25.c. Check printing charges, RO 60.d. Outstanding checks, RO 900.e. NSF check returned with bank statement, RO 250.f. Deposit mailed the afternoon of June 30, RO 1,000.
As of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028. The following information is available: 1. Deposit in transit, $2,795. 2. Credit memo in bank statement for interest earned in June: $14. 3. Outstanding check: $3,946. 4. Debit memo for service charge: $12. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ $ 18,181 18,181 4 0
At June 30, Mareska Company has the following bank information: cash balance per bank $3,600; outstanding checks $280; deposits in transit $550; credit memo for interest $10; bank service charge $20. What is Mareska's adjusted cash balance on June 30?
At April 30, Mazaya Company Has the following bank information: cash balance per book $7200; outstanding checks $560; deposits in transit $1100; credit memo for interest $20; bank service charge $40. What is Mazaya's Adjusted cash balance on April 30?
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
The information below relates to the Cash Account in the Ledger of Vaughn Company. Balance September 1-$17,060; Cash Deposited-$64,330. Balance September 30-$17,784: Checks written-$63,606. The September bank statement shows a balance of $16,802 on September 30 and the following memoranda. CREDITS Collection of $1684 note plus interest $36 $1720 Interest earned on checking account $51 DEBITS NSF check: Richard Nance $615 Safety Deposit box Rent $71 At September 20, Deposits in Transit were $4640, and outstanding checks totaled $2573 Make a bank Recociliation
At August 31, Sheridan Company has a cash balance per books of $7,750 and the following additional data from the bank statement: charge for printing Sheridan Company checks $58, interest earned on checking account balance $41, and outstanding checks $820.Determine the adjusted cash balance per books at August 31. Adjusted cash balance per books $

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