The following information is available for the ABC Company for its March 31 bankreconciliation:From the March 31 bank statement:PreviousBalance$9,908Total Checks and Total Deposits andDebits$7,805Current BalanceCredits$11,905$14,008Checks and DebitsDate03/0303/1103/1503/2503/2903/30Deposits and Credits Daily BalanceDateNo.28742906290529092908Amount1,2103,8501707251,350500 NSFAmount4,3407,270Amount9,90814,2481,0389,1889,0188,29315,56314,213Date03/0203/0103/0203/2703/31295 IN 03/0303/1103/1503/2503/2703/2903/3003/31NSF: A check from a customer, Booker Co. in payment of their account.13,71314,008IN: Interest earned on the account.Check 2874 was outstanding at the end of last month.From the ABC Company's accounting records:Cash Receipts DepositedCash Debit4,3407,2702,09013,700Cash PaymentsCheck No. Cash Credit290529062907290829092910DateMarch27311703,8504601,3507253406,895CashAcct. No. 101DateExplanationBalancePRDebitCredit BalanceFebruary 28March8,69822,39815,50331Total receipts13,7006,895R431Total payments D51. Based on the above information, prepare a bank reconciliation for the ABC Company.2. Prepare the necessary general journal entries to bring cash to the reconciled balance.

The bank reconciliation statement is prepared to equate the balance of cash book and pass book with…

The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Credits $11,905 Current Balance $14,008 Deposits and Credits Daily Balance Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Amount 1,210 3,850 170 725 1,350 500 NSF Date Amount 03/02 03/27 03/31 Date 03/01 03/02 295 IN 03/03| 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 13,713 14,008 No. 2874 2906 2905 2909 2908 4,340 7,270 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 ashAcct. No. 101 ate bruary 28 Explanation Balance PR Debit Credit Balance 8,698 22,398 31 Total receipts R4 D5 13,700 arch 31 Total pavments 6 895 15. 503

The following information is available for the ABC Company for its March 31 bank reconciliation: From the March 31 bank statement: Previous Balance $9,908 Total Checks and Total Deposits and Debits $7,805 Credits $11,905 Current Balance $14,008 Deposits and Credits Daily Balance Checks and Debits Date 03/03 03/11 03/15 03/25 03/29 03/30 Amount 1,210 3,850 170 725 1,350 500 NSF Date Amount 03/02 03/27 03/31 Date 03/01 03/02 295 IN 03/03| 03/11 03/15 03/25 03/27 03/29 03/30 03/31 NSF: A check from a customer, Booker Co. in payment of their account. Amount 9,908 14,248 1,038 9,188 9,018 8,293 15,563 14,213 13,713 14,008 No. 2874 2906 2905 2909 2908 4,340 7,270 IN: Interest earned on the account. Check 2874 was outstanding at the end of last month. From the ABC Company's accounting records: Cash Receipts Deposited Cash Debit 4,340 7,270 2,090 13,700 Cash Payments Check No. Cash Credit 2905 2906 2907 2908 2909 2910 Date March 27 31 170 3,850 460 1,350 725 340 6,895 ashAcct. No. 101 ate bruary 28 Explanation Balance PR Debit Credit Balance 8,698 22,398 31 Total receipts R4 D5 13,700 arch 31 Total pavments 6 895 15. 503

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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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.
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Based on the following information, prepare a bank reconciliation to determine the adjusted (corrected) balance: (Input each amount as a positive value.) Bank balance $ 776 Account fees $ 27 Checkbook balance $ 732 ATM withdrawals $ 116 Outstanding checks $ 148 Deposit in transit $ 69 Direct deposits $ 98 Interest earned $ 10
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Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation: Cash balance per company's records, May 31 Deposits in transit Note receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check $4,461 213 855 38 1,599 164 Determine the adjusted balance that would appear in the company section of the bank reconciliation on May 31. Oa. $3,075 Ob. $5,114 Oc. $1,068 Od. $3,766
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