**Bank Reconciliation for December****STEWART COMPANY** Bank Reconciliation At December 31 | Bank Statement | Company’s Books ||-----------------------------------------------------|-----------------------------------------------------|| **Ending Balance Per Bank Statement** | **Ending Balance Per Cash Account** || | Additions: || Additions: | || | || | || | || 0 | 0 || Deductions: | Deductions: || | || | || | || | || 0 | 0 || **Up-to-Date Cash Balance** | $0 || | **Up-to-Date Cash Balance** || | $0 |This table is a template for preparing a bank reconciliation. It consists of two main sections: the Bank Statement and the Company’s Books. Each section includes lines for recording additions and deductions.- **Bank Statement:** This side is for reconciling the bank's records. It starts with the ending balance per the bank statement and provides spaces to list additions (such as deposits in transit or bank errors in the company’s favor) and deductions (such as outstanding checks or bank errors in the bank's favor).- **Company’s Books:** This side represents the company's cash account records. Similarly, it starts with the ending balance per cash account, with spaces for additions (such as interest income or company errors in the bank's favor) and deductions (such as service charges or company errors in the company’s favor).Both sections ultimately lead to an up-to-date cash balance, representing the reconciled amount that should match once all additions and deductions are accounted for. **Required Information**[The following information applies to the questions displayed below.]The December bank statement and cash T-account for Stewart Company follow:**BANK STATEMENT**| Date | Checks | Deposits | Other | Balance ||--------------|---------|----------|--------------------|---------|| December 1 | | | | $36,000 || December 6 | $7,520 | | | $28,480 || December 11 | $450 | $27,000 | | $55,030 || December 17 | $8,900 | | | $46,130 || December 23 | | $34,000 | | $80,130 || December 26 | $450 | | | $79,680 || December 30 | $12,200 | $18,000 | NSF* | $85,280 || December 31 | | | Interest earned $20 | $85,300 || December 31 | | | Service charge $50 | $85,250 |*NSF check from J. Left, a customer.**Cash (A)**| Debit | Credit ||--------------|--------|| December 1 | Balance $36,000 | | Deposits | || December 11 | $27,000 || December 23 | $34,000 || December 30 | $18,000 || December 31 | $11,000 || December 31 | Balance $90,730 || | Checks written during December: || | $7,520 || | $450 || | $8,900 || | $450 || | $50 || | $12,200 || | $5,700 |There were no deposits in transit or outstanding checks at November 30.

Working Note; Outstanding checks = 50+5700 = 5750

Answered: [The following information applies to…

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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prepare journa entries and bank rencoliation
The ending bank statement balance at November 30 is $6,850. The bank statement shows a service charge of $85, electronic funds receipts of $500, and a NSF check for $350. Deposits in transit total $2,350 and outstanding checks are $1,535. The balance per books at November 30 is $7,600. What is the adjusted bank balance at November 30? A. $8,415 B. $6,915 C. $6,850 D. $7,665
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
1
Brown Company's bank statement for Septermber 30 showed: Bank statement balance Book balance of cash $4,210 $6,560 The following information was also available as of September 30: a. A customer's check for $950 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $30 processing fee. b. The September 30 cash receipts, $6,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c. Outstanding checks amounted to $3,910. d. A check for rent expense was written for $2,198 but by mistake was recorded in the accounting records as $2,918. Required: Prepare bank reconciliation as of September 30. Your Answer should be in the following format:
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Cash (A) Debit June 1 Checks $ 19,900 Deposits Other $ 18,800 Credit Balance 7,360 June Deposits 20,600 20,200 Checks written June June 30 Balance 7,760 $31 Balance $ 7,360 26,160 6,260 6,229 6,229 1. In addition to the balance in its bank account, Hills Company also has $420 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30?
! Required information [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 September 1 September 10 September 30 Debit Balance September 30. Balance Checks Total Amount of Cash # 101 # 102 # 103 BANK STATEMENT Deposits $ 810 1,720 2,310 Cash (A) 2,020 3,030 810 2,550 1,720 2,310 50 2,710 $ 3,030 NSF check EFT deposit Service charge Credit Other September 10 September 15. September 22 September 28 # 101 # 102 # 103 # 104 $ 100 155 20 Balance $ 2,020 1,920 4,950 4,140 2,420 110 265 245 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company's customers. 4. If the company also has $420…
What is the cash balance per books at November 30, 2021?
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Required information Skip to question [The following information applies to the questions displayed below.]The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,600 August 2 $ 120 13,480 August 3 $ 9,300 22,780 August 4 220 22,560 August 5 160 22,400 August 9 530 21,870 August 10 130 21,740 August 15 3,100 24,840 August 21 220 24,620 August 24 15,500 9,120 August 25 5,650 14,770 August 30 620 14,150 August 30 Interest earned $ 20 14,170 August 31 Service charge 10 14,160 Cash (A) Debit Credit August 1 Balance 13,600 Deposits Checks written August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4 530 August 5 200 August 15 280 August 17 620 August 18 220 August 19…
Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, June 1 $ 7,320 Deposits during June $ 18,600 25,920 Checks cleared during June $ 19,700 6,220 Bank service charges $ 31 6,189 Balance, June 30 6,189 Cash (A) Debit Credit June 1 Balance 7,320 June Deposits 20,200 20,000 Checks written June June 30 Balance 7,520 E5-5 (Algo) Part 2 Prepare any journal entries that should be made as a result of the bank reconciliation.

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