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 ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Company developed the following reconciling information and preparing it's April bank recognition: cash balance per bank for 15400, note receivable collected by Bank 8400, outstanding checks 12,600 deposit in transit 6300; bank service charge 150 NSF check 1680; using the above information determine The cash balance per books before adjustment for the company
The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998. a. Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495. b. Deposits in transit not recorded by bank, $778. c. Bank debit memo for service charges, $40. d. Bank credit memo for note collected by bank, $23,985 plus $885 interest. e. Bank debit memo for $756 NSF (not sufficient funds) check from Calin Sams, a customer. f. Checks outstanding, $1,860. Record the appropriate journal entries that would be necessary for Jeffrey Co. Record the entry that increases cash first. If an amount box does not require an entry, leave it blank.
Alexa Company had the following bank reconciliation on June 30: Balance per bank statement, June 30 - 3,000,000; Deposit in transit - 400,000; Outstanding checks - 900,000. The bank statement for the month of July showed the following: Deposits, including 200,000 note collected for Alexa - 9,000,000; Disbursements, including 140,000 NSF customer check and 10,000 service charge - 7,000,000. All reconciling items on June 30 cleared through the bank in July. The outstanding checks totaled 600,000 and the deposit in transit amounted to 1,000,000 on July 31. What is the adjusted cash in bank on July 31?
Saved Help Save & Exit Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $9,500. The bank reconciliation for the month contained the following items: $ 920 Deposits in transit Outstanding checks 720 Interest earned 20 NSF check returned to bank 270 Bank service charge 95 Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? Multiple Choice Next > Prev 1 of 10 $9,155. $8,580. $8,900. $9,755. I Submit
Bank Reconciliation and Related Journal Entries The book balance in the checking account of Lyle's Salon as of November 30 is $3,337.11. The bank statement shows an ending balance of $2,136.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: An ATM withdrawal of $153.00 on November 18 by Lyle for personal use was not recorded on the books. A bank debit memo issued for an NSF check from a customer of $19.40. A bank credit memo issued for interest of $19.00 earned during the month. On November 30, a deposit of $1,201.00 was made, which is not shown on the bank statement. A bank debit memo issued for $18.00 for bank service charges. Checks No. 549, 561, and 562 for the amounts of $167.00, $23.00, and $9.60, respectively, were written during November but have not yet been received by the bank.…
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 Add : ... Less : ... Adjusted cash balance per bank The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp10.094.000 Collection of electronic funds transfer Rp884.000 Interest earned on checking accounts Rp26.000 NSF check: R. Doll Rp245.000 Rp35.000 Safety deposit box rent Cash balance per books Add: *** *** Less *** Adjusted cash balance per books
Proof of Cash Problems 1. Lazer Company had the following bank reconciliation on June 30: Balance per bank statement, June 30 Deposit in transit Total Outstanding checks Balance per book, June 30 The bank statement for the month of July showed the following: The month Deposits, including P200,000 note collected for Lazer Disbursements, including P140,000 NSF customer check And P10,000 service charge P3,000,000 400,000 What is the cash balance per book on July 31? What is the amount of cash receipts per book in July ? What is the amount of cash disbursements per book in July? 3,400,000 (900,000) P2,500,000 P9,000,000 7,000,000 All reconciling items on June 30 cleared through the bank in July. The Outstanding checks totaled P600,000 and the deposit in transit amounted to P1,000,000 on July 31.
Karlin Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $ 17,600 Deposits in transit 2,400 Notes receivable and interest collected by bank 5,920 Bank charge for check printing 200 Outstanding checks 12,000 NSF check 1,120 The adjusted cash balance per books on April 30 is: Answers: $24,600. $23,520. $22,200. $24,440.
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.
Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,450, outstanding checks of $3,900, an NSF check of $2,600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3,400. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)?
Use the following data the answer questions 11 to 14 The cash records of Company Inc. show the following: 3. The August 31 bank reconciliation indicated that deposits in transit totaled $390. During September the general ledger account "Cash" shows deposits of $11,800, but the bank statement indicates that only $9,540 in deposits were received during the month. 4. The August 31 bank reconciliation also reported outstanding cheques of $850. During the month of September, the Company books show that $11,670 of cheques were issued, yet the bank statement showed that $10,500 of cheques cleared the bank in September. There were no bank debit or credit memoranda and no errors were made by either the bank or the Company. 11) What were the deposits in transit at September 30? f) $2,260 g) $2,150 h) $1,960 i) $2,650 j) None of the above 12) What were the outstanding cheques at September 30? f) $2,020 g) $2,120 h) $1,170 i) $1,980 j) None of the above FlDage 13) Which of the following is are the…
Sharon Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the c records. June 30 Bank Reconciliation Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $35,000 7,700 (10,000) $32,700 Month of July Results Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank (recorded by bank as a charge) Per Bank Per Books $43,250 22,500 20,000 7,500 75 1,675 $46,250 29,050 15,500 | I

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