not use ai please The following data apply to Pro Beauty Supply Incorporated for May, Year 2:Balance per the bank on May 31, $12,315.Deposits in transit not recorded by the bank, $2,260.Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply's account, $800.The following checks written and recorded by Pro Beauty Supply were not included in the bank statement:3013 $ 1953054 4803056 1,780Note collected by the bank, $900.Service charge for collection of note, $20.The bookkeeper recorded a check written for $623 to pay for the May utilities expense as $533 in the cash disbursements journal.Bank service charge in addition to the note collection fee, $20.Customer checks returned by the bank as NSF, $157.Required:Determine the amount of the unadjusted cash balance per Pro Beauty Supply's books.

Step 1:The bank reconciliation statement is prepared to reconcile the difference between the cash…

Answered: The following data apply to Pro Beauty…

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 5E

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The bank reconciliation shows the following adjustments. Deposits in transit: $1,698 Notes receivable collected by bank: $2,500; interest: $145 Outstanding checks: $987 Error by bank: $436 Bank charges: $70 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book balance: $13,744. Deposits in transit: $2,509. Outstanding checks: $1,777. Bank charges: $125. Bank incorrectly charged the account for $412. The bank will correct the error next month. Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.
The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding checks: $558 Bank service charges: $50 NSF checks: $250 Prepare the correcting journal entry.
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.
The following data apply to Pro Beauty Supply Incorporated for May Year 1: 1. Balance per the bank on May 31: $10,885. 2. Deposits in transit not recorded by the bank: $1,510. 3. Bank error, check written by Best Beauty Supply was charged to Pro Beauty Supply's account: $900. 4. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement. 3013 3054 3056 $ 135 480 1,040 5. Note collected by the bank: $650. 6. Service charge for collection of note: $23. 7. The bookkeeper mistakenly recorded a check for $348 but the check was correctly written for May utilities in the amount of $438. 8. Bank service charge in addition to the note collection fee: $25. 9. Customer checks returned by the bank as NSF: $142. Required Determine the amount of the unadjusted cash balance per Pro Beauty Supply's books. Unadjusted cash balance
The following data apply to Pro Beauty Supply Incorporated for May, Year 2: 1. Balance per the bank on May 31, $12,020. 2. Deposits in transit not recorded by the bank, $2,350. 3. Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply's account, $850. 4. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement: 3013 3054 3056 $ 295 610 1,320 5. Note collected by the bank, $700. 6. Service charge for collection of note, $9. 7. The bookkeeper recorded a check written for $658 to pay for the May utilities expense as $568 in the cash disbursements journal. 8. Bank service charge in addition to the note collection fee, $25. 9. Customer checks returned by the bank as NSF, $139. Required: Determine the amount of the unadjusted cash balance per Pro Beauty Supply's books. Unadjusted cash balance
Balance per the bank on May 31: $11,295. Deposits in transit not recorded by the bank: $2,410. Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply’s account: $600. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement: 3013 $ 155 3054 590 3056 1,690 Note collected by the bank: $800. Service charge for collection of note: $18. The bookkeeper mistakenly recorded a check for $507 but the check was correctly written for May utilities in the amount of $597. Bank service charge in addition to the note collection fee: $50. Customer checks returned by the bank as NSF: $101. RequiredDetermine the amount of the unadjusted cash balance per Pro Beauty Supply’s books.
On March 31, Sigment Company had a $44,547.60 checkbook balance. The bank statement showed a balance on that date of $46,574.10, and the following information on the bank statement had not been entered in the checkbook: $24.75 Service charge $68.85 NSF charge A review of the company’s bank statement and checkbook showed a deposit in transit of $3,919.44 and outstanding checks as follows: Number 234 for $281.34 Number 236 for $445.12 Number 237 for $2,901.60 Number 238 for $2,411.48 Prepare a bank reconciliation in proper format. List and total the outstanding checks at the bottom of the bank reconciliation.
Hunter Company bank statement indicated a cash balance of $9,610, while the cash 11. chut ledger account on that date shows a balance of $7,430 in July 31. Outstanding checks totaled $2,417. A $500 check mailed to the bank for deposit had not reached the bank at the statement date. The bank returned a customer's NSF check for $225 received as payment of an account receivable. 2016092 FAT 2019302296 The bank statement showed $30 interest earned on 201504 20130022 2019002295 the bank balance for the month of July. 7090022 2019002295 20120
The following information is available for the Jacobs Company on March 31 of the current year: Bank statement balance, March 31 - P146,570Note collected by bank, including interest of P2,500, not yet taken up on the books - P62,500NSF check returned with the bank statement - P21,260Outstanding checks as of March 31 - P68,470Bank service charges for March - P1,285Credit memo for interest credited by bank for the month of March - P105 What is the correct cash balance at March 31?a. P38,145b. P78,100c. P78,205d. P76,815
The following information is for Pharoah Company: 1. Cash balance per bank, July 31, $6,185. 2. July bank service charge not recorded by the depositor, $17. 3. The bank erroneously charged another company’s $590 cheque against Pharoah’s account. 4. Cash balance per books, July 31, $7,379. 5. The bank charged Pharoah’s account $290 for a customer’s NSF cheque. 6. Deposits in transit, July 31, $1,850. 7. Pharoah recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. 8. The bank collected a $1,050 note for Pharoah in July, plus interest of $30, less a fee of $17. The collection has not been recorded by Pharoah and no interest has been accrued. 9. Outstanding cheques, July 31, $499. Prepare a bank reconciliation for July 31
The following information is for Pharoah Company: 1. Cash balance per bank, July 31, $6,185. 2. July bank service charge not recorded by the depositor, $17. 3. The bank erroneously charged another company’s $590 cheque against Pharoah’s account. 4. Cash balance per books, July 31, $7,379. 5. The bank charged Pharoah’s account $290 for a customer’s NSF cheque. 6. Deposits in transit, July 31, $1,850. 7. Pharoah recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. 8. The bank collected a $1,050 note for Pharoah in July, plus interest of $30, less a fee of $17. The collection has not been recorded by Pharoah and no interest has been accrued. 9. Outstanding cheques, July 31, $499 Journalize the adjusting entries for July 31 on the books of Pharoah Company.

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