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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Using the following information, prepare a bank reconciliation for Cullumber Company for July 31, 2022. a. The bank statement balance is $3,700. b. The cash account balance is $4,100. C. Outstanding checks totaled $1,260. d. Deposits in transit are $1,620. e. The bank service charge is $31. f. A check for $87 for supplies was recorded as $78 in the ledger.
The bank statement for Clive Company indicates a balance of $30,000 on September 30, 2021. After the journals for September had been posted, the cash account in the depositor's books had a balance of $27,800. The following reconciling items are available to prepare a bank reconciliation for Clive Company. (i) Bank debit memorandum for service charges, $250. (ii) Bank credit memorandum for interest earned, $2,105. (iii) Bank debit memorandum for $300 NSF (not sufficient funds) check from a customer. (iv) Cash sales of $480 had been erroneously recorded in the cash account as $448. (v) A check paid for $1,250 was erroneously recorded by the bank in the bank statement as $1,350. (vi) Checks outstanding, $1,463. (vii) Deposits in transit not recorded by bank, $750. Required: Prepare the bank reconciliation for Clive Company as of September 30, 2021.
The following information pertains to Moon designing Company. Cash balance per bank, July 31, $8,000. July bank service charge not recorded by the depositor $37. Cash balance per books, July 31, $8,021. Deposits in transit, July 31, $1,500. 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. Outstanding checks, July 31, $600. Required Prepare a bank reconciliation at July 31. Journalize the adjusting entries at July 31 on the books of Moon designing Company.
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.
As on 30 April the Bank statement of CAT LLC reports a bank balance of RO 6,250, without recording a credit transfer from a customer of RO 4,200 and a standing order payment of RO 3,500. Deposits awaiting clearance were RO 3,400 and the value of cheques yet to be presented on this date was RO 3,780. The cash bank balance is. a. RO 4330 b. Ro 8170 c. RO 2830 d. RO 1920
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.
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 .
7. The following information pertains to Mekka Company. a. Cash balance as per bank, July 31, RO 14,526 b. July bank service charges not recorded by the depositor RO 56 c. Cash balance as per books, July 31, RO 14,568 d. Deposit in transit, July 31, RO 3,000 e. Bank collected RO 1800 note for Mekka in July, plus interest RO 72, less fee RO 40. The collection has not been recorded by Mekka, and no interest has been accrued. f. Outstanding checks, July 31, RO 1182. Instruction: Prepare bank reconciliation at July 31
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