Wilson Company had the following cash balance items listed in its trial balance at 12/31/2021: Peterson Savings and Loan: $ 64, 000 Right Bank: Clinton County Trust Bank: (12,000) 24,000 If Wilson reports under IFRS, its 12/31/2021 balance sheet would show what cash balance?
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- Bank reconciliation and entriesThe cash account for Coastal Bike Co. at October 1, 2019, indicated abalance of $5,140. During October, the total cash deposited was $39,175,and checks written totaled $40,520. The bank statement indicated abalance of $8,980 on October 31, 2019. Comparing the bank statement,the canceled checks, and the accompanying memos with the recordsrevealed the following reconciling items: A. Checks outstanding totaled $5,560.B. A deposit of $1,050 representing receipts of October 31 had beenmade too late to appear on the bank statement.C. The bank had collected for Coastal Bike Co. $2, 120 on a note leftfor collection. The face of the note was $2,000. D. A check for $370 returned with the statement had beenincorrectly charged by the bank as $730.E. A check for $310 returned with the statement had been recordedby Coastal Bike Co. as $130. The check was for the payment of anobligation to Rack Pro Co. on account. F. Bank service charges for October amounted to $25.G. A…The company records a deposit of $34,956 as $33,956 in the book. What isthe entry to correct the cash balance?Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2 Service Fee Expense selected answer correct 85 selected answer correct Notes receivable incorrect answer please help me finish the problem i keep getting stuck. Its not -85 for credit and its not -35 so what is it
- A company's Cash account shows a balance of $3,460 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($50), an NSF check from a customer ($370), a customer's note receivable collected by the bank ($1,600), and interest earned ($130). Required: Record the necessary entry(ies) to adjust the company's balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the items that increase cash. 2 Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general JournalOn July 31, 2022, Carla Vista Co. had a cash balance per books of $6,335.00. The statement from Dakota State Bank on that date showed a balance of $7,885.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $19.00. 2. The bank collected $1,715.00 from a customer for Carla Vista Co. through electronic funds transfer. 3. The July 31 receipts of $1,394.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $347.00. 5. Checks outstanding on July 31 totaled $2,046.10. 6. On July 31, the bank statement showed an NSF charge of $770.00 for a check received by the company from W. Krueger, a customer, on account.…The following data were available for Nina School of Rock at Dec 31, 2022:Cash in bank - BPI (per books) 75,000Cash in bank - Metrobank (1,000)Payroll fund 25,000Petty cash fund, 3,000 (includes 500 unreplenished vouchers)Additional information at Dec 31:a. Outstanding checks, P1,200b. Service charge for Dec P200 (unrecorded by books)c. Deposit in transit, P2,000How much is the amount of cash at Dec 31, 2022? 102,000 102,300 102, 800 103,100
- Headlands has the following assets at December 31, 2017. Cash in bank-savings account 138,800 Certificates of deposit (270-day) 244,000 Cash on hand 1,200 Postdated checks 6,500 Cash refund due from State Taxing Authority 31,500 Checking account balance 10,800 What amount should be reported as cash? Cash to be reported 2$On July 31, 2020, Concord Company had a cash balance per books of $6,043.75. The statement from Dakota State Bank on that date showed a balance of $7,738.05. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2. 3. 4. 5. 6. The bank service charge for July was $25. The bank collected $1,680 for Keeds Company through electronic funds transfer. The July 31 receipts of $1,225.50 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $361 that cleared the bank in July was incorrectly entered as a cash payment on July 10 for $316. Checks outstanding on July 31 totaled $1,888.80. On July 31, the bank statement showed an NSF charge of $579 for a check received by the company from W. Krueger, a customer, on account.At July 31, Sunland Company has the following bank information: cash balance per bank $8,380, outstanding checks $712, deposits in transit $1,211, and a bank service charge $26. Determine the adjusted cash balance per bank at July 31. What is the adjusted cash balance per bank?
- The are the auditor of CK Company for the year ended, Dec. 31, 2020. The finance manager of the company presented the following information relating to cash balances: Petty Cash (Imprest fund balance) - P20,000 Cash in Bank – LBP (checking account) - 526,000 Cash in Bank – BDO (savings account) - 700,000 Cash in Bank – Metrobank (peso savings acct) - 200,000 Cash in Bank – Metrobank (dollar savings acct) - $2,000 The following information was gathered during the conduct of your audit: The total bills and coins as per cash count amounts to P3,000 A total of receipts amounting to P16,240 relating to travel expenses were unreplenished from PCF as of Dec, 31, 2020 The LBP account has the following transactions and details: Bank Statement Balance as of Dec. 31, 2020 – P700,000 A total of P50,000 Deposits in Transit Outstanding Checks amounting to P300,000 Total deposits already included in the bank but not yet recorded in the book, P70,000 A check that…Jessie has a cash account per general ledger that shows a balance of $78,659 atOctober 31, 2021. Bank statement from Ocean Paradise Bank on that dateshows the following date shows the following balance. 31 October Amount $88,080 Comparison of checking account details with cash account details reveals factsas follows.1. A note receivable of $13,070 was invoiced by the bank for Jessie on the 14thOctober plus $713 interest and the bank has charged $137 on the billing. No interest has been recognized on these notes.2. Check No. 175 the amount of $5,741 was entered in the cash journal as $5,471and Check No. 189 of $2,040 was entered in the cash journal as$2,400. Both checks have been issued to pay for the purchase of supplies.3. The bank has charged Jessie account. for customer unbilled checks amounting to $789 on October 23. 4. Deposit in progress is $7,388 and outstanding check no. 123 on October 28totaling $5,309.5. There was a canceled check issued by Kenny to Leo for $2,079 that was…