The bookkeeper of Drogon Co. recently prepared the following bank reconciliation: Santa Clara Co. Bank Reconciliation December 31 Balance per bank statement 175,000 Add: Deposit in transit 8,000 Checkbook printing charge 210 Error made in recording check no. 25 (issued in December) 1,500 NSFcheck 5,000 14,710 189,710 Deduct: Outstanding checks 4,500 Note collected by bank (includes P50 interest) 8,000 12,500 Balance per book 177,210 Santa Claire has P9,000 cash on December 31. The amount Drogon should report as cash on the balance sheet as of December 31 should be

The bookkeeper of Drogon Co. recently prepared the following bank reconciliation: Santa Clara Co. Bank Reconciliation December 31 Balance per bank statement 175,000 Add: Deposit in transit 8,000 Checkbook printing charge 210 Error made in recording check no. 25 (issued in December) 1,500 NSFcheck 5,000 14,710 189,710 Deduct: Outstanding checks 4,500 Note collected by bank (includes P50 interest) 8,000 12,500 Balance per book 177,210 Santa Claire has P9,000 cash on December 31. The amount Drogon should report as cash on the balance sheet as of December 31 should be

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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.
Need help
Oakwood Company gathered the following reconciling information inpreparing its June bank reconciliation:Cash balance per books, 6/30 $12,600 Deposits in transit 900 Notes receivable and interest collected by bank 2,220 Bank charge for check printing 75 Outstanding checks 4,500 NSF check 420 The adjusted cash balance per books on June 30 is a. $15,225b. $14,820c. $14,325d. $15,165
Do not give answer in image
Hello please give me Answer
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation: Line Item Description Amount Cash balance per company’s records, September 30 $3,019 Deposits in transit 450 Note receivable and interest collected by bank 895 Bank charge for check printing 31 Outstanding checks 1,286 NSF check 169 Determine the adjusted balance that would appear in the company section of the bank reconciliation on September 30. a. $3,047. b. $2,183. c. $2,878. d. $3,714.
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company's records $7,150 Adjustments: Outstanding checks $3,430 Error by Chesner Co. in recording Check No. 1056 as $830 instead of $380 450 Note for $11,200 collected by bank, including interest 11,650 Deposit in transit on July 31 (7,280) Bank service charges (40) Total adjustments 8,210 Cash balance according to bank statement $15,360 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., use the format shown in the Let’s Review section. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to bank statement $fill in the blank acc4df036010fde_1 fill in the…
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 Using the following accounts: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks prepare the two correcting journal entries: DR [ Select ] ["Bank Service Charges", "Interest Expense", "Interest Income", "Bank Errors", "Cash"] [ Select ] ["$569", "$30", "$300", "$1,020", "$852"] CR [ Select ] ["Interest Expense", "Cash", "Bank Service Charges", "Interest Income", "Bank Errors"] [ Select ] ["$852", "$300", "$569", "$1,030", "$30"] and DR…
1
The folowing Information was gathered by Superior Landscaping in order to prepare its Bank Reconciliation at the end of October: Balance in Cash Ledger account at end of Oct 31 $4,450 Balance of Cash in Bank Statement at end of Oct 31 3,900 Electornic Funds Transfer deposited into your Bank account late Oct 31 600 Outstanding Cheques at end of Oct 31 1,200 Deposits in Transit 2,000 NSF cheque received from a customer 350 Prepare the October 31st Bank Reconciliation