Swifty Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per books, 8/31 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check $18600 he adjusted cash balance per books on August 31 is O $10800. 890 4780 90 12400 1150

Swifty Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per books, 8/31 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check $18600 he adjusted cash balance per books on August 31 is O $10800. 890 4780 90 12400 1150

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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Michelle Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records June 30 Bank Reconciliation Balance per bank $36,400 Add Deposits in transit 8,008 Deduct: Outstanding checks (10.400) Balance per books $34,008 Month of July Results Per Bank Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge $44.980 Per Books $48.100 23,400 30.212 20.800 16,120 7.800 78 July NSF check from a customer, returned by the bank (recorded by bank as a chargel 1742 (a) Your answer is correct Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance, Outstanding checks from the June reconciliation cleared the bank in July
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Using the following information: The bank statement balance is $3,093. The cash account balance is $3,305. Outstanding checks amounted to $767. Deposits in transit are $815. The bank service charge is $155. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
What is the amount of cash receipts per book in December? Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add: Deposit in Transit Less: Outstanding checks Bank credit recorded in error Balance per book, November 30 1,200,000 200,000 Data per bank statement for the month of December follow: December deposits, including note collected of 1,000,000 for Chris December disbursements, including NSF customer check 350,000 & service charge 50,000 3,600,000 800,000 4,400,000 1,400,000 3,000,000 5,500,000 4,400,000 1 point All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to 500,000 were outstanding and deposits of 700,000 were in transit on December 31.
Derek Company gathered the following reconciling information in preparing its September bank reconciliation: Cash balance per books, 9/30 $2,945 Deposits in transit 568 Notes receivable and interest collected by bank 873 Bank charge for check printing 27 Outstanding checks 1,207 NSF check 145 Find the adjusted cash balance per books on September 30. Select the correct answer. $3,007 $2,306 $3,152 $3,646
Prepare a bank reconciliation from the following information:a. Balance per bank statement as of May 31, $17,755.44b. Balance per books as of May 31, $12,211.94c. Deposits in transit, $2,254.81d. Outstanding checks, $7,819.16e. Bank service charge, $20.85
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Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation: Cash balance per books, 9/30 $3,120 Deposits in transit 369 Notes receivable and interest collected by bank 721 Bank charge for check printing 28 Outstanding checks 1,595 NSF check 106 Calculate the adjusted cash balance per books on September 30. a.$2,481. b.$2,587. c.$3,707. d.$1,894.
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation. Calculate the adjusted cash balance per books on September 30. Cash balance per books, September 30 $2,750 Deposits in transit 200 Notes receivable and interest collected by bank 630 Bank charge for check printing 50 Outstanding checks 1,250 NSF check 290 a.$1,590 b.$5,130 c.$3,690 d.$3,040
Prepare the bank reconciliation for april and the journal entries that should be made as a result of the bank reconciliation. What should the cash account be after recording the journal entries?
From the give Problem 2, What is the adjusted cash in bank on December 31?