The following information is for Sunland's Burger Company: 1. 2. 3. 4. 5. 6. 7. 8. 9. Cash balance per bank, July 31, $8,247. July bank service charge not recorded by the depositor, $35. The bank erroneously charged another company's $780 cheque against Sunland's Burger's account. Cash balance per books, July 31, $9,838. The bank charged Sunland's Burger's account $390 for a customer's NSF cheque. This included a $7 service charge. The company policy is to pass on all NSF charges to the customer. Deposits in transit, July 31, $2.460. Sunland's Burger recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. The bank collected a $1,400 note for Sunland's Burger in July, plus interest of $40, less a fee of $22. The collection has not been recorded by Sunland's Burger and no interest has been accrued. Outstanding cheques, July 31, $665. SUNLAND'S BURGER COMPANY Bank Reconciliation $ $ $ $

The following information is for Sunland's Burger Company: 1. 2. 3. 4. 5. 6. 7. 8. 9. Cash balance per bank, July 31, $8,247. July bank service charge not recorded by the depositor, $35. The bank erroneously charged another company's $780 cheque against Sunland's Burger's account. Cash balance per books, July 31, $9,838. The bank charged Sunland's Burger's account $390 for a customer's NSF cheque. This included a $7 service charge. The company policy is to pass on all NSF charges to the customer. Deposits in transit, July 31, $2.460. Sunland's Burger recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. The bank collected a $1,400 note for Sunland's Burger in July, plus interest of $40, less a fee of $22. The collection has not been recorded by Sunland's Burger and no interest has been accrued. Outstanding cheques, July 31, $665. SUNLAND'S BURGER COMPANY Bank Reconciliation $ $ $ $

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 2SEQ

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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 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.
• A bank service charge of $10 is deducted by the bank and appears on the November 30 bank statement. 1. The following information is available for Hapley Co. • November 30 bank statement shows a $1,895 balance. • The general ledger shows a $1,742 balance at November 30. • A $795 deposit placed in the bank's night depository on November 30 does not appear on the November 30 bank How will the customer's note appear on Hapley's November 30 bank reconciliation? a. $320 appears as an addition to the book balance of cash. b. $320 appears as a deduction from the book balance of cash. c. $320 appears as an addition to the bank balance of cash. d. $320 appears as a deduction from the bank balance of cash. e. $335 appears as an addition to the bank balance of cash. statement. • Outstanding checks amount to $638 at November 30. • A customer's $320 note was collected by the bank and deposited in Hapley's account in November.
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Acme Company has received its bank statement for the month ending May 31, which showed the following: Ending balance $10,650.05 NSF check 63.40 Service charge 10.70 After checking the bank statement and accounting records, the accountant has determined the following: The May cash balance per books is $10,781.76. The bank’s service charge and NSF check were not entered by the bookkeeper. A $354.60 deposit made on May 31 is not on the bank statement. Outstanding checks total $296.99. Prepare a proper bank reconciliation in proper format.
The following information pertains to Sheridan Video Company. 1. Cash balance per bank, July 31, $7,743. 2. July bank service charge not recorded by the depositor $36. 3. Cash balance per books, July 31, $7,764. 4. Deposits in transit, July 31, $1,740. 5. Bank collected $1,140 note for Sheridan in July, plus interest $44, less fee $28. The collection has not been recorded by Sheridan, and no interest has been accrued. 6. Outstanding checks, July 31, $599. 1. Prepare a bank reconciliation at July 31. (List items that increase cash balance first.) 2. Journalize the adjusting entries at July 31 on the books of Sheridan Video Company. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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The following information pertains to Concord Video Company. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. Bank collected $1,150 note for Concord in July, plus interest $45, less fee $29. The collection has not been recorded by Concord, and no interest has been accrued. 6. Outstanding checks, July 31, $600. (a) Prepare a bank reconciliation at July 31. (List items that increase cash balance first.) CONCORD VIDEO COMPANYBank ReconciliationChoose the accounting period Select an opening name for section one $Enter a dollar amount Select between addition and deduction :…