The following information is for Ivanhoe Company in September. 1. Cash balance per bank, September 30, $6,900. 2. Cash balance per books, September 30, $5,330. 3. Outstanding cheques, $3,020. 4. Bank service charge, $23. 5. NSF cheque from customer, $220. 6. Deposits in transit, $1.350. 7. EFT receipts from customers in payment of their accounts, $80. 8. Cheque #212 was correctly written and posted by the bank as $429. Ivanhoe Company had recorded the cheque as $492 in error. The cheque was written for the purchase of supplies

The following information is for Ivanhoe Company in September. 1. Cash balance per bank, September 30, $6,900. 2. Cash balance per books, September 30, $5,330. 3. Outstanding cheques, $3,020. 4. Bank service charge, $23. 5. NSF cheque from customer, $220. 6. Deposits in transit, $1.350. 7. EFT receipts from customers in payment of their accounts, $80. 8. Cheque #212 was correctly written and posted by the bank as $429. Ivanhoe Company had recorded the cheque as $492 in error. The cheque was written for the purchase of supplies

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

Hilltop Company's monthly bank statement shows a balance of $54,000. Reconciliation of the statement with company books reveals the following information: Bank service charge............ ...... $ 10 NSF Check......... 650 Checks outstanding............ ...1,500 Deposits in transit... 350 What was the adjusted bank balance on the bank reconciliation? a b с d $53,077 $53,050 $53,023 $52,363
At November 30, Mazaya Company has the following bank information: cash balance per book R 04,600; outstanding checks R.O 28o; deposits in transit R.O 550, credit memo for interest R.O10, bank service charge RO.20 What is Mazaya's adjusted cash balance on November 30? Select one: a. RO4.590 b. R.O.4.320 CRO4.870 d. RO.4.870
At April 30, Marigold Company has the following bank information: cash balance per bank $2360; outstanding checks $394; deposits in transit $275; credit memo for interest $53; bank service charge $8. What is Marigold's adjusted cash balance on April 30? O $2532 O $2241 O $2302 O $2360
The following information pertains to Coronado Video Company. 1. Cash balance per bank, July 31, $8,163. 2. July bank service charge not recorded by the depositor $34. 3. Cash balance per books, July 31, $8,184. 4. Deposits in transit, July 31, $1,950. 5. Bank collected $1,350 note for Coronado in July, plus interest $42, less fee $26. The collection has not been recorded by Coronado, and no interest has been accrued. 6. Outstanding checks, July 31, $597. (a) Prepare a bank reconciliation at July 31. (List items that increase cash balance first.) CORONADO VIDEO COMPANYBank ReconciliationChoose the accounting period Select an opening name for section one $Enter a dollar amount Select between addition and deduction…
The following data were accumulated for use in reconciling the bank account for Mathers Co. For July: 1. Cash balance according to the company's record at July 31, $25,470. 2. Cash balance according to the bank statement at July 31, $26,890. 3. Checks outstanding, $5,170. 4. Deposit in transit, not record it by bank, $4,150. 5.a check for a $270 and payment of an account was erroneously recorded in the check register at $720. 6. Bank debit memo for service charges, $50. Journalize the entries that should be made up by the company, part (a )error and part ( b) service charge A. July 31 _______ _______ B. July 31 ______ _____
The following information has been extracted from the accounting records of the Simplicity Corporation:a. Cash on hand ( undeposited collections) P1,020b. Certificates of deposit 25,000c. Customer’s notes receivable 1,000d. Reconciled balance in Uno Bank checking account (350)e. Reconciled balance in Trese Bank payroll account 9,350f. Balance in Rural bank savings account 8,560g. Customer’s postdated checks 1,350h. Employee travel advances 1,600i. Cash in bond sinking fund 1,200j. Bond sinking fund investments 8,090k. Postage stamps 430 Required:a. What is the adjusted cash balance?b. Discuss the treatment of the items not included as cash.
The following extract from the cash book of Jon for the month of January shows thecompany’s bank transactions:RM RM01 Jan Balance b/f 600 18 Jan Ali 14513 Jan Uno 224 28 Jan PBA 7231 Jan Latif 186 30 Jan TNB 10931 Jan Balance c/f 6841,010 1,010…3/-3The company’s bank statement for the same period is as follows:Debit (RM) Credit (RM) Balance (RM)01 Jan Balance 63503 Jan Halim 35 60013 Jan Uno 224 82423 Jan Ali 145 67931 Jan Standing order 30 649Required:a. Prepare a corrected cash book using the information given above b. Draw up a bank reconciliation statement.
At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000, outstanding checks Rp1.462.000, deposits in transit Rp1.211.000, and a bank debit memo Rp110.000. Determine the adjusted cash balance per bank at July 31. Cash balance per bank Rp 5.200.000,00 Add : Deposits in Transit Rp 1.211.000,00 Rp 6.411.000,00 Less Outstanding Checks Rp 1.462.000,00 Adjusted cash balance per bank Rp 4.949.000,00 The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp 10.094.000 Rp 884.000 Collection of electronic funds transfer Interest earned on checking accounts NSF check: R. Doll Rp 26.000 Rp 245.000 Safety deposit box rent Rp 35.000 Cash balance per books Rp10.094.000 Add: *** ... Less NSF Check Rp245.000 Adjusted cash balance per books
Conway Company reported the following information: Cash balance on balance sheet (12/31) $22,066 Pre-reconciliation cash account balance (12/31) 23,916 Bank statement (12/31) 23,220 Bank service charges 350 Bank debit memos (utility payments) 1,500 Deposits in transit (12/31) 9,160 Required: Question Content Area 1. Calculate the amount of outstanding checks as of December 31.
Singleako Company has the following data for the Month of December. November 30 December 31 Cash in bank Account Statement 2,032,000 3,160,000 Bank Statement 1,890,000 2,900,000 Bank Debits 1,080,000 Bank Credits ? Book Debits ? Book Credits 1,440,000 Outstanding Checks Deposit in Transit Check erroneously charged by the bank against Entity's account (corrected in subsequent month) Bank service charge Note recorded as cash receipt by the entity when Placed with bank for collection 180,000 592,000 80,000 498,000 40,000 50,000 2,000 4,000 (Note is actually collected by the bank in subsequent Month and credited by bank to entity's account in same Month) 200,000 300,000 Required: Prepare four-column reconciliation showing the adjusted balances. Prepare adjusting entry/ies.
give answer of this question please
Using the following information: The bank statement balance is $3,093. The cash account balance is $3,305. Outstanding checks amounted to $767. Deposits in transit are $815. The bank service charge is $155. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 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