What total amount should be reported as cash at year-end? Affable Company provided the following information at year-end comprising the cash account: Cash in bank – demand deposit 5,000,000 400,000 5,000 1,500,000 50,000 100,000 1,000,000 500,000 Cash on hand Postage stamps unused Certificate of time deposit Money order Manager's check Traveler's check Postdated customer check

What total amount should be reported as cash at year-end? Affable Company provided the following information at year-end comprising the cash account: Cash in bank – demand deposit 5,000,000 400,000 5,000 1,500,000 50,000 100,000 1,000,000 500,000 Cash on hand Postage stamps unused Certificate of time deposit Money order Manager's check Traveler's check Postdated customer check

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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 cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS Cash Debit P 208,700 20,350 27,950 109,350 92,700 53,000 16,850 CASH PAYMENTS Check No. 4113 Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 4114 10 4115 16 4116 22 4117 29 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 9 12 17 22 23 92,700 543,750 Less: Checks and other debits: P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 Apr. 7 13 14 15 18 21 26 30 50,000 30 1,000 Service charge 335,300 P 304,000 Ending balance
The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS CASH PAYMENTS Cash Debit Check No. Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 P 208,700 20,350 27,950 109,350 92,700 4113 4114 10 4115 16 4116 22 4117 29 53,000 16,850 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 92,700 4 9 12 17 22 23 543,750 Less: Checks and other debits: Apr. 7 13 P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 50,000 1,000 Service charge 14 15 18 21 26 30 30 335,300 P 304,000 Ending balance
The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): Balance, April 1, Current. Year Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Debit April 1 Balance April Deposits BANK STATEMENT Cash balance Checks Cash (A) $45,500 270 150 Deposits $37,200 1,210 Credit 25,300 April Checks written 43,400 Balance $31,500 68,700 69,910 24,410 24,140 23,990 23,990 43,700 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,400 (including $2,600 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. 3. What was the beginning balance in the cash account in the ledger on May 1, Current Year?
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 IMMEDIATELY
Uramilaben
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…
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.
Bank reconciliation and entries The following information was available to reconcile Nelson Company's book cash balance with its bank statement as of September 30, 2021: The September 30 cash balance according to the accounting records was $21,870. Oustanding checks from August's bank reconciliation: Check # 356 $1,240 Check # 357 775 Check # 359 3,280 Check # 360 924 Below is a record of the cash receipts and cash payments for September: Cash Deposits Cash Payments Date Amount Check# Amount Sep 2 $8,359 361 $3,268 Sep 4 11,250 362 7,140 Sep 6 4,371 363 4,257 Sep 12 5,260 364 3,525 Sep 15 12,118 365 4,160 Sep 18 7,493 366 1,789 Sep 22 5,395 367 6,285 Sep 27…
Thailand Company provided the following data relating to the cash transactions and bank account for July: Cash balance per ledger ??? Cash balance per bank statement ??? Debit memo for July service charge P3,500 Deposit of July 31 not recorded by the bank until August is P298,500 Outstanding checks (including certified check amounting to P25,000) P180,500 A customer note collected by the bank amounting to P120,600 A check issued to the supplier had been entered in the book as P86,500 and was erroneously deducted by the bank at P85,600. A Book error on a check issued by the company and recorded at P97,600 was cleared by the bank at an amount of P79,600. A customer check was returned by the bank marked as NSF P50,000. The…
Compute the adjusted cash balance as at September 30, 2019 of Guyana Corp where it was preparing a bank reconciliation statement as of September 30, 2019. The company has provided the following details:Deposit in Transit = $4,300Book balance =$32,800Customer NSF check returned by bank =$400Outstanding checks = $2,200Interest earned on checking account =$100