What is the amount of cash receiptsper book in December?Chris Company presented the following bank reconciliation for the month of November:Balance per bank statement, November 30Add: Deposit in TransitLess: Outstanding checksBank credit recorded in errorBalance per book, November 301,200,000200,000Data per bank statement for the month of December follow:December deposits, including note collected of 1,000,000 for ChrisDecember disbursements, including NSF customer check350,000 & service charge 50,0003,600,000800,0004,400,0001,400,0003,000,0005,500,0004,400,0001 pointAll items that were outstanding on November 30 cleared through the bank in December, including thebank credit. In addition, checks amounting to 500,000 were outstanding and deposits of 700,000 were intransit on December 31.

To calculate the amount of cash receipts per book in December, we need to reconcile the book balance…

Answered: What is the amount of cash receipts per…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 1COMP

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Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?
Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book balance: $13,744. Deposits in transit: $2,509. Outstanding checks: $1,777. Bank charges: $125. Bank incorrectly charged the account for $412. The bank will correct the error next month. Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.
Cool Company prepared the following bank reconciliation for the month of November:Balance per bank statement, November 30 3,600,000Add: Deposit in transit 800,000 4,400,000Less: Outstanding checks 1,200,000Bank credit recorded in error 200,000 1,400,000Balance per book, November 30 3,000,000 Data per bank statement for the month of December: December deposits, including note receivablecollected of P 1,000,000 for Cool Company 5,500,000December disbursements, including NSF checkP350,000 and service charge P50,000 4,400,000 All items that were outstanding on November 30 cleared through the bank in December,including the bank credit. In addition, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. 1.…
Prepare the bank reconciliation on June 30 and July 31, and adjusting journal entries on July 31 * Sassy Company provided the following data for the month of July: Cash in bank Balance June 30 Book debits for July including June CM for note collected, P300,000 Book credits for July including June NSF of P100,000 and service charge of P4,000 1,000,000 4,000,000 3,600,000 Bank statement for July 1,650,000 Balance June 30 Bank debits for July including service charge of P1,000 and June outstanding checks of P854,000 Bank credits for July including CM for bank loan of P50,000 and June deposit in transit of P400,000 2,500,000 3,500,000 Your answer
Prepare bank reconciliation on October 31 and November 30, and adjusting entries on November 30. Beehive Company provided the following information: Balance per book October 31 Receipts per book for November (collection from customer, P100,000 recorded as P10,000) Disbursements per book for November (check for P300,000 in payment of account recorded as P30,000) Balance per bank statement November 30 Deposit in transit October 31 Outstanding checks November 30 Bank receipts for November including an erroneous credit of P100,000 which should have been credited to Beeline Company Bank disbursements for November including check of Beeline Company, P200,000 600,000 2,200,000 1,800,000 930,000 300,000 400,000 2,500,000 1,970,000 Your answer
Paul Company prepared the following bank reconciliation for the month of November: Balance per bank statement, November 30 Add: deposit in transit 3,600,000 800,000 4,400,000 Less: outstanding checks 1,200,000 Bank credit recorded in error 1,400,000 3,000,000 200,000 Balance per book, November 30 Data per bank statement for the month of December: December deposits, including note receivable collected of P1,000,000 for Paul Company December disbursements, including NSF check P350,000 and service charge P50,000 5,500,000 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks of P500,000 were outstanding and deposits of P700,000 were in transit on December 31. What is the adjusted cash in bank on December 31?
Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $5.750. The bank reconciliation for the month contained the following items: Deposits in transit Outstanding checks Interest earned NSF check returned to bank Bank service charge Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice $4,980. O $5,300. $ 770 495 20 120 20 $5,630.
Chris Company presented the following bank reconciliation for the month of November: Balance per bank statement, November 30 3,600,000 Add: Deposit in transit 800,000 Total 4,400,000 Less: Outstanding checks 1,200,000 Bank credit recorded in error 200,000 1,400,000 Balance per book, November 30 3,000,000 Data per bank statement for the month of December follow: December deposits, including note collected of P1,000,000 for Chris 5,500,000 December disbursements, including NSF customer check P350,000 and service charge P50,000 4,400,000 All items that were outstanding on November 30 cleared through the deposits of P700,000 were in transit on December 31. What is the adjusted ash in bank on December 31?
What is the unadjusted cash in bank per bank statement?
In preparing bank reconciliation for the month of August, Ken Company provided the following information: Balance per bank statement P1,805,000 Deposit in transit 325,000 Return of customer’s check for insufficient fund 60,000 Outstanding checks 275,000 Bank service charge for August 10,000 What is the adjusted bank balance? What is the unadjusted book balance?
What is the adjusting entries?
Please Provide a answer with Option Explanation

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