You have been asked to help out a small Landscaping company by preparing their month-end bank reconciliation for February, 2022. You have gathered the following information: Balance per the bank statement, February 28, 2022 $5,033 Unadjusted balance per books (G/L), February 28, 2022 $1,950 A deposit made on February 28th not yet recorded by the bank $6,375 Outstanding cheques (total) as of February 28, 2022 $4,928 You found the following items on the bank statement that were either not included in the books (G/L) o were entered incorrectly: Bank Service Charges $35 NSF cheque from R. Bounce was returned by the bank $685 (this was for an outstanding account receivable) Note and interest collected by the bank on behalf of the company $5,250 ($5,000 is for the note and $250 is interest that was collected) Required – а. Prepare the adjusting entries required for the cash account. Calculate the adjusted balance per books. b. Prepare a bank reconciliation as at February 28.

You have been asked to help out a small Landscaping company by preparing their month-end bank reconciliation for February, 2022. You have gathered the following information: Balance per the bank statement, February 28, 2022 $5,033 Unadjusted balance per books (G/L), February 28, 2022 $1,950 A deposit made on February 28th not yet recorded by the bank $6,375 Outstanding cheques (total) as of February 28, 2022 $4,928 You found the following items on the bank statement that were either not included in the books (G/L) o were entered incorrectly: Bank Service Charges $35 NSF cheque from R. Bounce was returned by the bank $685 (this was for an outstanding account receivable) Note and interest collected by the bank on behalf of the company $5,250 ($5,000 is for the note and $250 is interest that was collected) Required – а. Prepare the adjusting entries required for the cash account. Calculate the adjusted balance per books. b. Prepare a bank reconciliation as at February 28.

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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devrat
Your firm’s cash book shows a credit bank balance of $1,240 at 30 April 2021. On comparison with the bank statement, you determine that there are unpresented cheques totalling $450, and a receipt of $140 which has not yet been passed through the bank account. The bank statement shows bank charges of $75 which have not been entered in the cash book.Please provide solution. The balance on the bank statement is: ______ Dr./Cr.
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In preparing its bank reconciliation for the month of April 2019, Haskins, Inc. has available the following information. Balance per bank statement, 4/30/19 $27,280 NSF check returned with 4/30/19 bank statement 900 Deposits in transit, 4/30/19 7,000 Outstanding checks, 4/30/19 10,400 Bank service charges for April 40 What should be the adjusted cash balance at April 30, 2019? Select one: a. $23,840 b. $23,880 c. $22,980 d. $22,940
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PROBLEM Corona Company's bank statement for the month of March 2021, included the following information : Ending balance, March 31, P 280,460 Bank service charge for March, P 1.300 Interest paid by bank to Corona for March, 1,070 In comparing the bank statement to its own cash records , Corona found the following : Deposits made but not yet recorded by the bank, P 36,890 Checks written and mailed but not yet recorded by the bank, 47,860 In addition Corona discovered that it had erroneously recorded a check for P 460 that should have been recorded for P 640. QUESTION What is Corona's correct cash balance at March 31 2020 ?
Beta corp was preparing a bank reconciliation statement as of September 30, 2018. The following were identified: Book balance =$32,800, Deposit in Transit = $4,300 Outstanding checks = $2,200 ,Interest earned on checking account =$100 Customer NSF check returned by bank =$400 Find adjusted cash balance as at September 30, 2018?
Dinesh bhai
Good day please assist with this question Show the adjustments that would be required in the cashbook receipts by completing the following table in your work book from the information provided. Thank you
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