The following information relates to the Clearwater Lake Restaurant checking account for the month of April: found $3,735 3,528 the Balance of cash per books, 4/30/20X4 Balance of cash per bank, 4/30/20X4 Outstanding checks as of 4/30/20X4 Bank service charges for April Deposit in transit at 4/30/20X4 NSF check returned with statement 256 toabarb 12 422 boxiupa Error in recording check #1568- (Office Supplies) 38 Snd X0odmovo 98 recorded as should be 89 Aed Required: Prepare a bank reconciliation for the restaurant for April 30, 20X4.

The following information relates to the Clearwater Lake Restaurant checking account for the month of April: found $3,735 3,528 the Balance of cash per books, 4/30/20X4 Balance of cash per bank, 4/30/20X4 Outstanding checks as of 4/30/20X4 Bank service charges for April Deposit in transit at 4/30/20X4 NSF check returned with statement 256 toabarb 12 422 boxiupa Error in recording check #1568- (Office Supplies) 38 Snd X0odmovo 98 recorded as should be 89 Aed Required: Prepare a bank reconciliation for the restaurant for April 30, 20X4.

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 following information relates to the bank account of Doug's Sky Diving Supply Store on June 30. Balance per bank statement $5,327 Balance per books as of June 30 9,265 Outstanding checks: #1007 $ 241 #1008 67 #1009 597 Deposits in transit 229 4,111 Bank service charges 98 NSF check 412 Credit memo for interest earned 16 Error: Check written and recorded by bank as $454 was subtracted from the checkbook as $445. The check was used to pay the telephone bill. Required: Prepare a bank reconciliation as of June 30. Doug's Sky Diving Supply Store Bank Reconciliation June 30, 20-- Bank statement balance $fill in the blank 1 Deduct deposits in transit: $fill in the blank 3 fill in the blank 4 fill in the blank 5 $fill in the blank 6 $fill in the blank 9 fill in the blank 11 fill in the blank 13 fill in the blank 14 Adjusted bank balance $fill in the blank 15 Book…
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Beverly Hills, Inc. developed the following information in recording its bank statement for the month of November. Balance per books November 30 $22,014 Balance per bank statement November 30 $24,635 1. Checks written in November but still outstanding $1,450. 2. Checks written in October but still outstanding $1,107. 3. Deposits of November 29th and 30th not yet recorded by bank $5,496. 4. NSF check of customer, A. Lincoln, returned by bank, $704. 5. The bank statement contained an electronic funds transfer received from customer Theodora Company for $6,150 plus interest for $150. 6. Check No. 151 for $562 was correctly issued and paid by bank, but incorrectly entered in the Cash Payments Journal as $526. It was a payment made to vendor, Smith Concrete. A. Prepare a Bank Reconciliation Statement at November 30. B. For Beverly Hills, Inc. prepare the next journal entry from the bank reconciliation. C. For Beverly Hills, Inc. prepare the final journal entry from the bank…
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Cash (A) Debit June 1 Checks $ 19,900 Deposits Other $ 18,800 Credit Balance 7,360 June Deposits 20,600 20,200 Checks written June June 30 Balance 7,760 $31 Balance $ 7,360 26,160 6,260 6,229 6,229 1. In addition to the balance in its bank account, Hills Company also has $420 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30?
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Del Gato Clinic's cash account shows a $15,374 debit balance and its bank statement shows $15,539 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,735. b. The June 30 bank statement lists a $55 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $289 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $298. d. The June 30 cash receipts of $2,524 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 Bank reconciliation LO P3 "repare its bank reconciliation using the above information. DEL GATO CLINIC Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: Deduct:…
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The Leo Company cash account had a balance of $962 on August 31. This included a bank deposit of $87 that was in transit on the 31st. The August 31 bank statement contained the following information: NSF Check Bank statement balance $ 1,089 $ 16 $ 7 $ 68 Bank service charge Collection of notes receivable Leo also had checks outstanding of $169. What is Leo's reconciled balance? a. $920 b. $962 c. $1,007 d. $1,089
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Please prepare a bank reconciliation and journal entries for the month ended April 30th for Bannon Co. 1) Balance per bank statement $ 9,915 2) Balance per cash general ledger account (books) $ 8,954 3) April 30th deposit of $ 2,600 is not on the bank statement (Deposit in Transit) 4) Check numbers #219 for $ 1000 and # 222 for $ 1,100 written in April do not appear on the April bank statement (Outstanding Checks) 5) Debit memo for a $ 20 service charge appeared on the bank statement 6) The bank incorrectly deducted $ 400 from Bannon's checking account 7) The bank collected a note on behalf of the company in April, a credit memo for net proceeds óf $ 2,000 included the principal of $1,900, interest of $ 150, less a collection fee of $ 50 accompanied the bank statement 8) A check from Apple Co. for $ 150 was returned by the bank marked NSF 9) The bank added $40 of interest earned directly to the checking account balance 10) A Cash Sale in the amount of $ 297 was erroneously journalnized…
3. The April 30 bank statement of 10A Company showed a balance of $$24,635 and the following memoranda: Credits Collection of $1,250 note plus interest $50 Interest earned on checking account $65 Debits $75 NSF check: Banana Wang $635 Safety deposit box rent: 10A Company's cash account in the general ledger had a balance of $26,100 on April 30 and other information is as follows: (1) Cash receipts for April 30 recorded on the company's books were $6,695 but this amount does not appear on the bank statement. (2) The total amount of checks still outstanding at April 30 amounted to $6,575, including $2,000 certified checks. (3) Check No. 119 payable to 10B Company was recorded in the cash payments journal and cleared the bank for $248 but the payment should be $284. Instructions (a) (b) Prepare the bank reconciliation at April 30. Prepare any adjusting entries necessary as a result of the bank reconciliation. (Hint: Record Safety deposit box rent as Miscellaneous (Misc.) Expense)