Using the following information, prepare the journal entries to reconcile the bank statement. • Bank balance: $6,788 • Book balance: $8,561 ● Deposits in transit: $1,803 ● Outstanding checks: $569 and $1,523 • Bank service charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense. If an amount box does not require an entry, leave it blank

Using the following information, prepare the journal entries to reconcile the bank statement. • Bank balance: $6,788 • Book balance: $8,561 ● Deposits in transit: $1,803 ● Outstanding checks: $569 and $1,523 • Bank service charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense. If an amount box does not require an entry, leave it blank

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

See similar textbooks

Similar questions

Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
Prepare the journal entry to reconcile the bank statement in EB7.
Leann Company received the following bank statement. Using the information from PB11 and PB12, prepare the bank reconciliation.
Hajun Company received the following bank statement. Using the information from PB9 and PB10, prepare the bank reconciliation.
Accounting Q/ Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of SR9,000. Cash account of SR7,500. Additional information for the reconciliation: Deposit in transit. NSF Check. Outstanding check. Collections made by the bank. Required: provide an amount of each information to bring the adjusted balances to be equal.
Using the following information, prepare the journal entries to reconcile the bank statement. • Bank balance: $3,678 • Book balance: $2,448 • Deposits in transit: $322 • Outstanding checks: $108 and $434 • Bank service charges: $25 • Notes receivable: $1,000; Interest income: $35 If an amount box does not require an entry, leave it blank. II II
Based on the he following information,preaper a blank reconciliation to determine the adjusted( corrected) balance; ( input each amount bas a positive value) Bank balance. $680 Checkbook balance. $642 Outstanding checks. $112 Direct deposit. $70 Account fees. $12 ATM withdrawal $80 Deposit in transit. $60 Interest earned. $8 Bank statement. Your checkbook
Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $4,178 Book balance: $2,849 Deposits in transit: $323 Outstanding checks: $108 and $534 Bank service charges: $25 Notes receivable: $1,000; Interest income: $35 If an amount box does not require an entry, leave it blank. 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 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15
Inner Resources Company received the following bank statement. Bank Statement Beginning balance A. D. Deposits $8,700 1,200 Total $9,900 Ending balance Prepare the journ Checks 101 102 103 106 Bank service charges $650 550 150 457 110 $1,917 $0 $7,983 required to reconcile the book balance to the bank balance. If amount box does not require entry field, leave it blank.
Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $4,687 Book balance: $404 Deposits in transit: $1,546 Outstanding checks: $958 Interest income: $52 NSF check: $456 If an amount box does not require an entry, leave it blank. 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 fill in the blank 11 fill in the blank 12
Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank Reconciliation Statement. Use the space provided after the illustrations for your answer. Cash-in-bank (IPB Bank) Dec. 4 Check No. 6 Check No. 8 Check No. 9 Check No. Dec. 1 Deposit 90,000 45,000 9,000 72,000 4,500 13,500 324003 36,000 9,100 324005 27,000 324006 22,500 324001 12 Deposit 324002 23 Deposit 27 Deposit 324004 12 Check No. 20 Check No. 28 Check No. 324007 45,000 Bank Statement Date Check No. Withdrawals Deposits 90,000 Balance 90,000 Dec. 1 10 324004 9,100 80,900 20 324001 4,500 22,500 76,400 53,900 22 324006 27 45,000 98,900 29 9,000 107,900 29 324003 36,000 71,900 29 27,000 CM 98,900 31 1800 SC 97,100 CM - Credit Memo DM - Debit Memo SC - Service Charge RT - Returned Check Legend: