DoneBalance per bankAdd:The bookkeeper did the following bank reconciliation.Ch 6 Bank Reconciliation.docxDeduct:Required:Bank ReconciliationDeposit in transitService Charge for MonthBookkeeper error made in recording checkwritten for $180 in payment of an accountspayable. check was recorded at $18.Balance per booksOutstanding checksNote collected by bank(includes interest of $12)a. Reconcile the bank balance to the correct cash balance.$6,844b. Reconcile the book balance to the correct cash balance.1,50016220(274)(252)1. Redo the bank reconciliation to calculate the correct cash balance.$8,000c. Record any journal entries that should be made to the company's books.

The bookkeeper did the following bank reconciliation. Balance per bank Add: Deposit in transit Service Charge for Month Bookkeeper error made in recording check written for $180 in payment of an accounts payable. check was recorded at $18 Deduct: Outstanding checks Note collected by bank (includes interest of $12) Balance per books $6,844 1,500 162 20 (274) (252) $8,000

The bookkeeper did the following bank reconciliation. Balance per bank Add: Deposit in transit Service Charge for Month Bookkeeper error made in recording check written for $180 in payment of an accounts payable. check was recorded at $18 Deduct: Outstanding checks Note collected by bank (includes interest of $12) Balance per books $6,844 1,500 162 20 (274) (252) $8,000

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Internal Control And Cash

Section: Chapter Questions

Problem 7.3BE

See similar textbooks

Similar questions

The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance: $6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
The bank reconciliation revealed that one deposit had cleared the bank two weeks after the date of the deposit. Should this be of concern? Why, or why not?
Which of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transit
Domingo Company received the following bank statement. Using PA9, prepare the bank reconciliation.
Hajun Company received the following bank statement. Using the information from PB9 and PB10, prepare the bank reconciliation.