This information relates to the Cash account in the ledger of Cullumber Company.Balance September 1-$16,660; Cash deposited-$64,000Balance September 30-$17,860; Checks written-$62,800The September bank statement shows a balance of $16,760 at September 30 and the following memoranda.CreditsDebitsCollection of electronicfunds transferNSF check: H.$1,990$720KaneInterest earned onSafety depositbox rent5570checking accountAt September 30, deposits in transit were $4,908 and outstanding checks totaled $2,553.Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.)CULLUMBER COMPANYBank Reconciliation$1$4 Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditSept. 30(To record electronic funds transfer received by bank)Sept. 30(To record Interest earned on checking account)Sept. 30(To record NSF check)Sept. 30(To record charges for safety deposit box rent)

The statement of Bank reconciliation is a report that matches the money balance on an organization's…

Answered: This information relates to the Cash…

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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At June 30, Almond Co.'s cash balance was $10,012 before adjustments, while its ending bank statement balance was $10,772. Check number 101 was issued June 2 in the amount of $95, but was erroneously recorded in Almond's general ledger balance as $59. The check was correctly listed in the bank statement at $95. The bank statement also included a credit memo for interest earned in the amount of $35, and a debit memo for monthly service charges in the amount of $50. What was Almond's adjusted cash balance at June 30? O A. $9,598 O B. $9,961 C. $10,048 D. $10,462 O
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Can also do a journal entry when the on December 31 Record the adjustment entry for $40 interest earned. 2 entry Record the adjustment entry for $80 NSF check receivable. 3 entry Record the adjustment entry for $50 bank charges thank you all of that is just for the journal entry
Directions: Record checks, a check card payment, an ATM transaction and a deposit in the checkbook register below. Include the date, description, and amount of each entry. Calculate the balance. 1. May 26: write beginning balance of $527.96. 2. May 27: write check #107 to Mrs. Wilson. You pay your landlord your share of the rent payment: $225.00. May 28: make a check card payment to Foodland. You pay $22.52 for groceries. 3. 4. June 1: write check #108 to Bank of Illinois. You make a car payment of $165.23. 5. June 2: write check #109 to Interstate Phone Service for $62.77. 6. June 2: use your ATM card to withdraw $20.00. 7. June 15: you deposit your paycheck for $425.00. Write this amount in the DEPOSIT column.
Prepare the bank reconciliation of Harvey insurance at December 31, 2024 Journalize any required entries from the bank reconciliation
On March 20, Oriole's petty cash fund of $119 is replenished when the fund contains $12 in cash and receipts for postage $49, freight- out $21, and travel expense $32. Prepare the journal entry to record the replenishment of the petty cash fund. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 20 Debit Credit
please help find the multiple choice answer, the answer on the multiple choice image is incorrect.
Prepare journal entries to record the November transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit (To record cash deposits on personal bank account) (To open bank account)
When the bank statement is received on July 3, it shows a balance, before reconciliation, of $6,120 as of June 30. After reconciliation, the adjusted balance is $3,650. If one deposit in transit amounted to $1,470, what was the total of the outstanding checks assuming that no other adjustments would be made to the bank statement?
Sal's Surf Shop deposits all receipts in the bank and makes all payments by check. On July 31 the cash account had a balance of $6,105.42. The bank statement on July 31 reported a balance of $4,146.46. Upon comparing the bank statement to the books, the following items were found.
On March 31, Sigment Company had a $44,547.60 checkbook balance. The bank statement showed a balance on that date of $46,574.10, and the following information on the bank statement had not been entered in the checkbook: $24.75 Service charge $68.85 NSF charge A review of the company’s bank statement and checkbook showed a deposit in transit of $3,919.44 and outstanding checks as follows: Number 234 for $281.34 Number 236 for $445.12 Number 237 for $2,901.60 Number 238 for $2,411.48 Prepare a bank reconciliation in proper format. List and total the outstanding checks at the bottom of the bank reconciliation.
On June 30, the check register balance is $391.04. The service charge is $4.10, and interest earned is $1.23. Check #124 for $9.53 was not entered, and a debit purchase for $15.75 was incorrectly entered as $17.55. A deposit for $81.70 was not entered. Question 1 What is the total amount that should be deducted from the checkbook register balance? Answers A. $129.86 B. $31.18 C. $29.38 D. $19.85 Question 2 What is the corrected checkbook balance? Answers A. $465.14 B. $481.20 C. $462.14 D. $261.18 Question 3 On April 1, your checkbook balance is $442.22, and the bank statement balance is $542.33. The service charge is $2.80, and interest earned is $1.57. Outstanding are check #131 for $53.34 and debit purchases of $18.92 and $29.08. What is your available bank balance? Answers A. $440.99 B. $442.22 C. $437.85 D. $443.45

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