What is the adjusted cash in bank as of March 31 per bank and per books? Following the information pertains to the Cash in Bank account of Mango Company for themonth of April, 2018:a. Balances per bank statement March 31, P21,560, and April 30, P23,040.b. Balances of Cash in Bank account in Company's books: March 31, P16,545, and April30, P22,680.Total receipts per books were P222,190 of which P1,210 was paid in cash to a creditoron April 16.C.d. Total charges in the bank statement during April were P218,970.e. Undeposited receipts were: March 31, P9,060 and April 30, P10,120.f.Outstanding checks were: March 31, P2,675 and April 30, P1,930, of which a check forP500 was certified by the bank on April 22.NSF checks returned, recorded as reductions of cash receipts were:1. Returned by Bank in April, recorded also in April, P1,0402. Returned by Bank in April but recorded in May, P860.g.h. Collections by Bank not recorded by company were P12,150 in March, and P11,640 inApril.i.Bank service charges not entered in company's books were: March 31, P750, and April30 P420.j.A check for P950 of Marang Company was charged to Mango Company in error.k. A check drawn for P840 was erroneously entered in the books as P480.

The bank reconciliation statement is prepared to adjust the balances of cash book and passbook to…

Answered: What is the adjusted cash in bank as of…

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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Question. At April 30, Kessler Company has the following bank information: Cash balance per bank $6,900Outstanding checks $420Deposits in transit $825Credit memo for interest $15Bank service charge $30 What is Kessler's adjusted cash balance on April 30?
At April 30, Marigold Company has the following bank information: cash balance per bank $2360; outstanding checks $394; deposits in transit $275; credit memo for interest $53; bank service charge $8. What is Marigold's adjusted cash balance on April 30? O $2532 O $2241 O $2302 O $2360
Using the following information, determine the adjusted bank balance. Bank balance: $6,925 Deposits in transit: $1,932 Outstanding checks: $584 Interest income: $130 NSF check: $275
The cash account of Sheffield Co. showed a ledger balance of $7,088.13 on June 30, 2020. The bank statement as of that date showed a balance of $7,470. Upon comparing the statement with the cash records, the following facts were determined. 1. 2. 3. 4. 5. 6. 7. (a) There were bank service charges for June of $45. A bank memo stated that Bao Dai's note for $2,160 and interest of $64.80 had been collected on June 29, and the bank had made a charge of $9.90 on the collection. (No entry had been made on Sheffield's books when Bao Dai's note was sent to the bank for collection.) Receipts for June 30 for $6,102 were not deposited until July 2. Checks outstanding on June 30 totaled $3,844.89. The bank had charged the Sheffield Co.'s account for a customer's uncollectible check amounting to $455.76 on June 29. A customer's check for $162 (as payment on the customer's Accounts Receivable) had been entered as $108 in the cash receipts journal by Sheffield on June 15. Check no. 742 in the amount…
At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000, outstanding checks Rp1.462.000, deposits in transit Rp1.211.000, and a bank debit memo Rp110.000. Determine the adjusted cash balance per bank at July 31. Cash balance per bank Rp 5.200.000,00 Add : Deposits in Transit Rp 1.211.000,00 Rp 6.411.000,00 Less Outstanding Checks Rp 1.462.000,00 Adjusted cash balance per bank Rp 4.949.000,00 The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp 10.094.000 Rp 884.000 Collection of electronic funds transfer Interest earned on checking accounts NSF check: R. Doll Rp 26.000 Rp 245.000 Safety deposit box rent Rp 35.000 Cash balance per books Rp10.094.000 Add: *** ... Less NSF Check Rp245.000 Adjusted cash balance per books
The new balance from a bank statement is $16,835.55. The deposits not yet recorded by the bank are $2058.05, $92.91 and $1052.27. The checks outstanding are $352.85, $188.14, $144.73 and $81.20. Determine the adjusted bank balance.
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
Given the following information, determine the adjusted cash balance per books from the following information: a. Balance per books as of June 30, $8,600. b. Outstanding checks, $820. с NSF check returned with bank statement, $130. d. Deposit mailed the afternoon of June 30, $300. e Check printing charges, $30. Interest earned on checking account, $12. Adjusted cash balance per books $
Winson Company reported the following information related to its 31 August 2019 bank statement: i) The bank statement's balance is $3267. ii) The cash account balance is $3193. iii) The outstanding checks total $612. iv) The deposits in transit amount to $1415. v)The bank service charge is $27. vi) Winson's accountant issued a check for $153 (inpayment on an account payable) that was erroneously recorded in the ledger as $135. vii)Bank debit memorandum for$138 NSF (not sufficient funds)check from one of its customers. viii) The bank collected an account receivable in the amount of $1060 on. behalf if Winson Company. Required; Prepare Winson Company's bank reconciliation on 31 August 2019.
As of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028. The following information is available: 1. Deposit in transit, $2,795. 2. Credit memo in bank statement for interest earned in June: $14. 3. Outstanding check: $3,946. 4. Debit memo for service charge: $12. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ $ 18,181 18,181 4 0
please answer
The following information was available to reconcile A.C. Forrest Company's book cash balance with its bank statement as of June 30, 2020: The June 30 cash balance according to the accounting records was $14,630. Oustanding checks from May's bank reconciliation: Check # 229 $770 Check # 230 540 Below is a record of the cash receipts and cash payments for June: Cash Deposits Cash Payments Date Amount Check# Amount Jun 2 $3,600 231 $1,500 Jun 5 4,210 232 7,510 Jun 11 5,230 233 1,800 Jun 17 4,500 234 3,230 Jun 23 3,350 235 1,100 Jun 27 5,100 236 1,250 Jun 30 5,390 237 6,270 238 1,650 239 820 240 1,430 241 740 242 1,310 243 2,190 244 5,300 Continued…

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