The following information is related to the bank reconciliation of the AcmeCompany:Balance per bank statement $1,951.20Balance per ledger 1,869.60Deposits in transit 271.20Outstanding checks 427.80NSF check 61.20Service charges 13.80 The adjusted/correct cash balance is- $1,794.60- $1,719.60- $1,638.00- $1,713.00- $1,876.20

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Answered: The following information is related 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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Based on the following information, what amount would be subtracted from the bank statement side of the bank reconciliation? ATM withdrawal $31; Outstanding checks $135; Interest $4; Deposit in-transit $87.Multiple Choice $139 $166 $87 $135 $31
Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,046 Deposits in transit: $320 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,500; interest: $35 Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book Balance
Using the following information, prepare a bank reconciliation. • Bank balance: $4,687 • Book balance: $5,690 • Deposits in transit: $1,546 • Outstanding checks: $956 • Interest income: $53 • NSF check: $466 Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book Balance
The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Using the following accounts: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks prepare the two correcting journal entries: DR [ Select ] ["Bank Service Charges", "Interest Expense", "Interest Income", "Bank Errors", "Cash"] [ Select ] ["$569", "$30", "$300", "$1,020", "$852"] CR [ Select ] ["Interest Expense", "Cash", "Bank Service Charges", "Interest Income", "Bank Errors"] [ Select ] ["$852", "$300", "$569", "$1,030", "$30"] and DR…
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Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $ 18,250 Balance per company records 8,500 Bank service charges Deposit in transit Note collected by bank with $190 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 50 2,650 5,150 7,300
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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
Review the information below: Cash balance per bank is $7,338. Bank service charge $40 Cash balance per book is $7,374 Deposits in transit $2,710 EFT $2,026 Outstanding checks $688 What is the adjusted balance for bank and books after reconciliation? $10,050 $10,048 $9,360 $9,400
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Bradford Company: Balance per bank $ 17,400 Balance per company records 8,195 Bank service charges Deposit in transit Note collected by bank with $130 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 45 3,100 4,900 7,450 b. Journalize any necessary entries for Bradford Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
Using the following information: Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35 and using the following accounts/items: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks you are to prepare a bank reconciliation: Bank Balance [ Select ] Book Balance [ Select] Add items: Add items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] Less items: Less items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select] [ Select ] Adjusted Bank Bal. [ Select ] Adjusted Book Bal. [ Select ] PLEASE NOTE: For the above reconciliation, if no dollar amount is needed, please use "$0" or if no item is needed, please use "None" - no quotation marks. You must enter the account and item names exactly as written above and all dollar amounts will be with "$" and commas…

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