The following information is available for Ellen's Fashions, Inc. for the current month. Book balance end of month $6,900 Outstanding checks 675 Deposits in transit 4,500 Service charges 105 Interest revenue 50 What is the adjusted book balance on the bank reconciliation? A. $6,845 B. $7,520 C. $10,570 D. $6745

The following information is available for Ellen's Fashions, Inc. for the current month. Book balance end of month $6,900 Outstanding checks 675 Deposits in transit 4,500 Service charges 105 Interest revenue 50 What is the adjusted book balance on the bank reconciliation? A. $6,845 B. $7,520 C. $10,570 D. $6745

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

Adjusted cash balance?
Q1: Outstanding check, June 30? Q2: Deposits in Transit, June 30? Q3: Cash per bank statement, June 30?
Saved Help Save & Exit Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $9,500. The bank reconciliation for the month contained the following items: $ 920 Deposits in transit Outstanding checks 720 Interest earned 20 NSF check returned to bank 270 Bank service charge 95 Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice Next > Prev 1 of 10 $9,155. $8,580. $8,900. $9,755. I Submit
Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,337.11. The bank statement shows an ending balance of $2,136.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: An ATM withdrawal of $153.00 on November 18 by Lyle for personal use was not recorded on the books. A bank debit memo issued for an NSF check from a customer of $19.40. A bank credit memo issued for interest of $19.00 earned during the month. On November 30, a deposit of $1,201.00 was made, which is not shown on the bank statement. A bank debit memo issued for $18.00 for bank service charges. Checks No. 549, 561, and 562 for the amounts of $167.00, $23.00, and $9.60, respectively, were written during November but have not yet been received by the bank.…
Using the following information: The bank statement balance is $5,175. The cash account balance is $5,503. Outstanding checks amounted to $712. Deposits in transit are $998. The bank service charge is $33. A check for $76 for supplies was recorded as $67 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $5.750. The bank reconciliation for the month contained the following items: Deposits in transit Outstanding checks Interest earned NSF check returned to bank Bank service charge Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice $4,980. O $5,300. $ 770 495 20 120 20 $5,630.
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
1
Determine the adjusted BANK balance using the following data provided by Ilustre Company: Balance per bank statement 3,800,000 Deposit in transit 520,000 Amount erroneously credited by bank to hanjipyeong’s account 40,000 Bank service Charge for December 5,000 Outstanding checks 675,000 NSF Checks 50,000 .
37)At Dec 31, Michael Corp has the following bank information: Cash balance per bank $4,500 Outstanding checks $200 Deposits in transit $1,000 Credit memo for interest $50 Bank service charge $25 What is Michael's adjusted cash balance on Dec 31? A)$5,425. B)$4,425. C)$5,325. D)$5,300
BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Lyle's Salon as of Novemeber 30 is $3,282.95. The bank statement shows an ending balance of $2,127. By examining last month's bank in novemeber and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: a) An ATM withdrawl of $150 on November 18 by Lyle for personal use was not recorded in the books b) A bank debit memo issued for an NSF check from a customer of $19.50 c) A bank credit memo issued for interest of $19 earned during the month d) on November 30, A deposit of 1,177 was made which is not shown on the bank statement. e) A bank debit memo issued for $17.50 for bank service charges. f) checks No. 549,561 and 562 for the amounts of $185, $21 and $9.40, respectively, were written during november but have not yet been received by the bank. g) The reconciliation from the previous month showed outstanding checks totaling $271.95…
Blue Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation Balance per bank $37,800 Add: Deposits in transit 8,316 Deduct: Outstanding checks (10,800 ) Balance per books $35,316 Month of July Results Per Bank Per Books Balance July 31 $46,710 $49,950 July deposits 27,000 31,374 July checks 21,600 16,740 July note collected (not included in July deposits) 5,400 July bank service charge 81 July NSF check from a customer, returned by the bank (recorded by bank as a charge) 1,809 Prepare a bank reconciliation going from the balance per bank and balance per book to correct cash balance.