INSThe following information relating to the bank checking account is available forWild Bill's Texas Barbeque at May 31.EXERCISE 7-7Another ShortBank Reconcil-latlonBalance per bank statement at May 31Outstanding checksDeposit in transit..Service charge by bank...Interest credited by the bank.......$9,740.153,352.701,106.30Balance per depositor's accounting records at May 3110.0043.10INSTRUCTIONS Prepare a bank reconciliation at May 31.7,460.65 Showr below is the information needed to prepare a bank reconciliation for DataFlow, Inc., at December 31.EXERCISE 7-8Bank Reconcil-lation and En-trles to Updatethe AccountingRecordsAt December 31, cash per the bank statement was $15,981; cash per the compa-ny's records was $17,445.2 Two debit memoranda accompanied the bank statement: service charges forDecember of $24, and a $600 check drawn by Jane Jones marked "NSF."3 Cash receipts of $4,353 on December 31 were not deposited until January,4 The following checks had been issued in December but were not includedamong the paid checks returned by the bank: no. 620 for $978, no. 630 for$2,052, and no. 641 for $483.INSTRUCTIONSa Prepare a bank reconciliation at December 31.b Prepare the necessary jourual entry or entries to update the accounting recordsof Data Flow, Inc.

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The following information relating to the bank checking account is available for Wild Bill's Texas Barbeque at May 31. Balance per bank statement at May 31 Outstanding checks...... Deposit In transit..... Service charge by bank.. Interest credited by the bank.. $9,740.15 3,352.70 1,106.30 10.00 43.10 Balance per depositor's accounting records at May 31 7,460.65 Prepare a bank reconciliation at May 31.

The following information relating to the bank checking account is available for Wild Bill's Texas Barbeque at May 31. Balance per bank statement at May 31 Outstanding checks...... Deposit In transit..... Service charge by bank.. Interest credited by the bank.. $9,740.15 3,352.70 1,106.30 10.00 43.10 Balance per depositor's accounting records at May 31 7,460.65 Prepare a bank reconciliation at May 31.

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:
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On august 31, baginski aunt company receives its bank statement on below. The company deposit it’s receipts in the bank and makes all payments by check. The debit memo for $95 is for an NSF check written by L. Pets. Check number 925 for $47, payable to Jordan company(a creditor) was recorded in the checkbook and journal as $74. The ledger balance of cash as of august 31st are no. 928, $150 and no. 929, $292. The accountant notes that the deposit of august 31 for $599 did not appear on the bank statement. How would I prepare a bank reconciliation as of august 31, assuming that the debit memos have not been recorded, as well as journal the entries, as well as complete the bank form to determine the adjusted balance of cash?
Instructions The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance according to the company's records at August 31, $22,569. Cash balance according to the bank statement at August 31, $29,187. 3. Checks outstanding, $13,346. Deposit in transit not recorded by bank, $7,087. A check for $42 in payment of an account was erroneously recorded in the check register as $420. 6. Bank debit memo for service charges, $19. Journalize the entry or entries that should be made by the company. Refer to the Chart of Accounts for exact wording of account titles. 1. 2. m4. 5.
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The following data were accumulated for use in reconciling the bank account for Mathers Co. For July: 1. Cash balance according to the company's record at July 31, $25,470. 2. Cash balance according to the bank statement at July 31, $26,890. 3. Checks outstanding, $5,170. 4. Deposit in transit, not record it by bank, $4,150. 5.a check for a $270 and payment of an account was erroneously recorded in the check register at $720. 6. Bank debit memo for service charges, $50. Journalize the entries that should be made up by the company, part (a )error and part ( b) service charge A. July 31 _______ _______ B. July 31 ______ _____
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Based on the following information, determine the true balance in your checking account. Balance in your checkbook Balance on bank statement $ 453 597 23 Interest earned on the account Total of outstanding checks Deposits in transit Service charge and other fees True balance $6 223 62
Using the following information: The bank statement balance is $3,093. The cash account balance is $3,305. Outstanding checks amounted to $767. Deposits in transit are $815. The bank service charge is $155. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14