The following show the cash book and bank statement respectively for Material Plus Co. Ltd forAugust 31, 2011.DateDetailsFoli Amount DateDetailsFolio AmountBalanceJune IV. Nelson5002011Aug IAug 3b/f8 100Peter LucasTrevor MillerSalesGeorge Lee|Lenna Smith5 300Aug 4Materials & More300Aug 6Aug 16Aug 20Aug 31Fagan RayJay's GarmentsSandra HenryPerfect Wear LtdY Willis2 0003 500Aug 11Aug 14Aug 19Aug 22Aug 25Aug 27Aug 315402 9004 7007502908801 90018 59026 6503 050Andrew CollinsBalancec/d26 65018 590Sept 1Balanceb/dCash Book for Material PlusDebitCreditDateAug 1Aug 4Aug 4Aug 13 Fagan RayAug 14Aug 20Aug 24Balance8 10013 40013 10012 560DetailsBalancePeter Lucas5 300Material & More300540Trevor MillerLodgmentsStanding Order -2 0004 70014 56019 26017 4701 790insuranceAug 26Aug 30June 20Bank Statement for Material PlusPerfect Wear LtdBank chargesTrader's Credit29017 18016 81517 760365945You are required to prepare(a) The revised cash book for Material Plus Co. Ltd(b) A statement to reconcile the revised cashbook with the bank statementUpdated Cash BookDateDetailsFolio Amount DateDetailsFolio Amount

The bank reconciliation helps to equate the balances of cash book and pass book with various…

The following show the cash book and bank statement respectively for Material Plus Co. Lid for August 31, 2011. Date Details Foli Amount Date Details Folio Amount Balance 8 100 June I V. Nelson 500 2011 Aug I Aug 3 Aug 6 Aug 16 Aug 20 | Aug 31 b/f Peter Lucas 5 300 Aug 4 Materials & More 300 Fagan Ray Jay's Garments Sandra Henry Perfect Wear Ltd Y Willis Andrew Collins Balance 2 000 3 500 4 700 Trevor Miller Sales George Lee Lenna Smith Aug 11 Aug 14 Aug 19 Aug 22 Aug 25 Aug 27 Aug 31 540 2 900 750 3 050 290 880 1 900 18 590 26 650 c/d 26 650 18 590 Sept I Balance b/d

The following show the cash book and bank statement respectively for Material Plus Co. Lid for August 31, 2011. Date Details Foli Amount Date Details Folio Amount Balance 8 100 June I V. Nelson 500 2011 Aug I Aug 3 Aug 6 Aug 16 Aug 20 | Aug 31 b/f Peter Lucas 5 300 Aug 4 Materials & More 300 Fagan Ray Jay's Garments Sandra Henry Perfect Wear Ltd Y Willis Andrew Collins Balance 2 000 3 500 4 700 Trevor Miller Sales George Lee Lenna Smith Aug 11 Aug 14 Aug 19 Aug 22 Aug 25 Aug 27 Aug 31 540 2 900 750 3 050 290 880 1 900 18 590 26 650 c/d 26 650 18 590 Sept I Balance b/d

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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CASH A/C DATE PARTICULARS AMT. DATE PARTICULARS AMT. 1.1.2015 10000 2.1.2015 5000 7.1.2015 4000 4.1.2015 1500 15.1.2015 1500 31.1.2015 Balance C/D ? Complete the balancing of the above ledger of CASH Account and choose the correct balance answer on Feb 1. Select one: a. Credit balance 10000 b. Debit balance 14000 c. Credit balance 19000 d. Debit Balance 8000 e. Debit balance 6000 f. Credit Balance 9000
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
c) The followings are the cash book and the bank statement of Alison Baker for the month of November 2017: i) Date 2021 ii) Nov 16 G. Philip 21 J. Forker 31 S. O'Hare 31 Balance c/d REQUIRED: Date 2021 Nov 1 8 16 20 21 31 31 31 Details Balance T. MacLeod Cheque W. Milne Cash book Bank 292 369 192 1,682 5,048 Cheque G. Frank: trader's credit Standing Order Bank Charges Date 2021 Bank statement Illustrate the cash book up to date. Nov 1 6 30 W. Milne 29 S. Porter Balance T. MacLeod Debit 184 160 32 19 292 369 88 Bank Credit Balance Illustrate a bank reconciliation statement as at 31 November 2021. 4,200 184 160 504 5,048 4,200 O/D 4,384 O/D 4,092 O/D 4,252 O/D 3,883 O/D 3,795 0/D 3,827 0/D 3,846 O/D
The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 Dec 1 Balance b/d 1,900 20 Ceria 265 10 Luna 304 31 Baiti 325 19 Wilson 261 31 Balance c/d 1,682 29 Cikmah 37 2,502 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox : Standing Order 94 2,064 31 Rina : Trader’s Credit 102 1,962 31 Bank charges 72 2,304 Required: Prepare the updated cashbook Prepare the bank reconciliation statement as at 31 December 2020
Question Prepare the updated cash book for the month of April 2021.
Cash Over and Short Miller Enterprises deposits the cash received during each day at the end of the day. Miller deposited $48,287 on October 3 and $50,116 on October 4. Cash register records and other documents supporting the deposits are summarized as follows: 10/3 10/4 Cash sales $36,690 $40,310 Collections on account 10,875 9,813 Total receipts $47,565 $50,123 Required: 1. Calculate the amount of cash over or cash short for each day. Enter negative values as negative numbers. 2. Prepare the journal entry to record the receipt and deposit of cash on October 3. For those boxes in which no entry is required 3. Prepare the journal entry to record the receipt and deposit of cash on October 4. For those boxes in which no entry is required 4. CONCEPTUAL CONNECTION: If you were the manager with responsibility over the cash registers, how would you use this information?
The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,170 August 2 $ 100 13,070 August 3 $ 9,000 22,070 August 4 200 21,870 August 5 150 21,720 August 9 490 21,230 August 10 110 21,120 August 15 3,000 24,120 August 21 200 23,920 August 24 14,900 9,020 August 25 5,500 14,520 August 30 600 13,920 August 30 Interest earned $ 20 13,940 August 31 Service charge 10 13,930 Cash (A) Debit Credit August 1 Balance 13,170 Deposits Checks written August 2 9,000 100 August 1 August 12 3,000 200 August 2 August 24 5,500 150 August 3 August 31 4,000 110 August 4 490 August 5 190 August 15 250 August 17 600 August 18 200 August 19 14,900 August 23 August 31 Balance 17,480 No deposits were in transit and no checks were…
EX.08.160.ALGO The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Journalize the transactions for each of the two days of cash receipts from sales. a. Actual cash in cash register, $5,086 cash receipts per cash register tally, $5,087.b. Actual cash in cash register, $5,896 cash receipts per cash register tally, $5,770. If an amount box does not require an entry, leave it blank. a. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 b. fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18
Required information Skip to question [The following information applies to the questions displayed below.]The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,600 August 2 $ 120 13,480 August 3 $ 9,300 22,780 August 4 220 22,560 August 5 160 22,400 August 9 530 21,870 August 10 130 21,740 August 15 3,100 24,840 August 21 220 24,620 August 24 15,500 9,120 August 25 5,650 14,770 August 30 620 14,150 August 30 Interest earned $ 20 14,170 August 31 Service charge 10 14,160 Cash (A) Debit Credit August 1 Balance 13,600 Deposits Checks written August 2 9,300 120 August 1 August 12 3,100 220 August 2 August 24 5,650 160 August 3 August 31 4,100 130 August 4 530 August 5 200 August 15 280 August 17 620 August 18 220 August 19…
The bank column in the cash book for December 2020 and the bank statement for that month for King Trading are as follows: Cash Book (Bank Account only) 2020 RM 2020 RM Dec 6 Peypei 230 20 Ceria 265 31 Baiti 325 31 Balance c/d 1,682 2,502 Dec 1 Balance b/d 1,900 10 Luna 304 19 Wilson 261 29 Cikmah 37 2,502 Bank Statement Date Items Debit Credit Balance Dec 1 Balance 1,900 6 Cheque 230 1,670 13 Luna 304 1,974 20 Cheque 265 1,709 22 Wilson 261 1,970 30 Tox:Standing Order 94 2,064 31 Rina:Trader’s Credit 102 1,962 31 Bank charges 72 2,034 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020
Sammy Joe's cash book (bank columns only) for the month of 2021 June was as follows: $ $ June 01 5 000 June 09 Wages Balance b/d Cash deposit 500 450 16 700 10 Stationery 18 M. Panton 800 23 Big D Limited 1 000 20 Rory Richards 2 500 2 680 Electric Solutions Sweet Treat Pastry 26 Sadie Jones 1 900 880 5 390 10 900 10 900 July 01 Balance b/d 5 390 Sammy Joe's bank statement for 2021 June: June 01 Balance b/d 29 30 30 Balance c/d Payments Balance Receipts $ $ $ 5 000 05 Standing order 60 4 940 09 Wages 500 4 440 10 Stationery 450 3 990 16 Cash deposit 700 4 690 18 M. Panton 800 5 490 19 Sara Stamp 570 6 060 20 Dishonoured cheque 480 5 580 21 Bank charges 100 5 480 24 Direct transfer: J. Gordon 300 5 780 30 Sweet Treat Pastry 880 4 900 A. Bring the cash book up to date, starting with the balance at 2021 June 30. B. Prepare a statement to reconcile the difference between the amended cash book balance and the balance on the bank statement at 2021 June 30.
Is this correct in preparing for a proof of cash?