The following information pertains to Carla Vista Corporation.1.Balance per bank, July 31, $8,655.2.July bank service charge not yet recorded by Carla Vista, $25.3.Balance per books, July 31, $9,039.4.Deposits in transit, July 31, $2,551.5.Electronic collection on account (EFT) from a customer, $1,689 not yet recorded by Carla Vista.6.Outstanding cheques, July 31, $903.7.Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge,$40. The charges will be added to the customer's account. Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)CARLA VISTA CORPORATIONBank Reconciliation2$$$..

Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

The following information pertains to Carla Vista Corporation. 1. Balance per bank, July 31, $8,655. 2. July bank service charge not yet recorded by Carla Vista, $25. 3. Balance per books, July 31, $9,039. 4. Deposits in transit, July 31, $2,551. 5. Electronic collection on account (EFT) from a customer, $1,689 not yet recorded by Carla Vista. Outstanding cheques, July 31, $903. Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge, $40. The charges will be added to the customer's account. 7. 6.

The following information pertains to Carla Vista Corporation. 1. Balance per bank, July 31, $8,655. 2. July bank service charge not yet recorded by Carla Vista, $25. 3. Balance per books, July 31, $9,039. 4. Deposits in transit, July 31, $2,551. 5. Electronic collection on account (EFT) from a customer, $1,689 not yet recorded by Carla Vista. Outstanding cheques, July 31, $903. Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge, $40. The charges will be added to the customer's account. 7. 6.

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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The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998. a. Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495. b. Deposits in transit not recorded by bank, $778. c. Bank debit memo for service charges, $40. d. Bank credit memo for note collected by bank, $23,985 plus $885 interest. e. Bank debit memo for $756 NSF (not sufficient funds) check from Calin Sams, a customer. f. Checks outstanding, $1,860. Record the appropriate journal entries that would be necessary for Jeffrey Co. Record the entry that increases cash first. If an amount box does not require an entry, leave it blank.
How do I journalize this in the genral journal, what accounts would I use?
prepare journa entries and bank rencoliation
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31 $27,900. Cash balance according to the bank statement at July 31, $29,040. Checks outstanding, $5,660. Deposit in transit, not recorded by bank, $4,550. A check for $340 in payment of an account was erroneously recorded in the check register as $430. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 14.
Mc Graw Hill Nolan Company's cash account shows a $24,659 debit balance and its bank statement shows $23,918 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,619. b. The June 30 bank statement lists $22 in bank service charges; the company has not yet recorded the cost of these services. c. In reviewing the bank statement, a $80 check written by the company was mistakenly recorded in the company's books as $89. d. June 30 cash receipts of $3,373 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. e. The bank statement included a $26 credit for interest earned on the company's cash in the bank. The company has not yet recorded interest earned. Prepare a bank reconciliation using the above information. Bank statement balance. Add: Deduct: Adjusted bank balance NOLAN COMPANY Bank Reconciliation June 30 $ 0 0 Book balance Add: Deduct: 0 0 Adjusted book balance $ 0 0 0 0
The bank statement for ABC Corp. shows a balance of $14300. Use the following reconciling items to determine the company's adjusted (corrected) book balance. Outstanding checks: $600 Deposits in Transit: $590 Interest earned on deposits: $23 EFT's from ABC Corp Customers: $1370 Customer's check returned due to NSF: $1550 A
Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August 31, $25,940. 2. Cash balance according to the bank statement at August 31, $27,390. 3. Checks outstanding, $5,270. 4. Deposit in transit not recorded by bank, $4,230. 5. A check for $270 in payment of an account was erroneously recorded in the check register as $720. 6. Bank debit memo for service charges, $40. Journalize the entries that should be made by the company that (a) increase cash and (b) decrease cash. a. 20Y6 Aug. 31 b. Aug. 31
The following information pertains to Moon designing Company. 1. Cash balance per bank, July 31, $8,000. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $8,021. 4. Deposits in transit, July 31, $1,500. 5. Bank collected $900 note for Moon in July, plus interest $36, less fee $20. The collection has not been recorded by Moon, and no interest has been accrued. 6. Outstanding checks, July 31, $600. Required (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Moon designing Company.
Accompanying a bank statement for Santee Company is a credit memo for $24,516 representing the principal ($22,700) and interest ($1,816) on a note that had been collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries. Required: On March 1, journalize the entry that should be made by the company to bring the accounting records up to date. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
The following information pertains to Lance Company. Cash balance per bank, July 31, $ 8,732. July bank service charge not recorded by the depositor $45. Cash balance per books, July 31, $8,768. Deposits in transit, July 31, $3,500. $2,023 collected from a customer for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. Outstanding checks, July 31, $1,486. Prepare a bank reconcilliation at july 31, 2025 The following information pertains to Lance Company 1. Cash balance per bank, July 31, $8,732. 2. July bank service charge not recorded by the depositor $45. 3. Cash balance per books, July 31, $8,768. 4. Deposits in transit, July 31, $3,500. 5. 6. $2,023 collected from a customer for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. Outstanding checks, July 31, $1,486