PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337117005
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Question
Chapter 4, Problem 6FPE
Summary Introduction
To determine: The checking account reconciliation of person C.
A checking account is an assortment of deposit accounts held by a bank or credit association that enables a customer to deposit as well as withdraw funds on a typical premise.
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For the following question, reconcile the bank
statement and check register. Would they need to
make an adjustment or does everything
reconcile?
Sylvia's checkbook balance on July 31 is $389.32.
The information on her bank statement is given
below. The outstanding checks, unrecorded
deposits, and unrecorded ATM transactions are
listed here also. From this information will her
account reconcile?
Bank statement: $434.30; Interest: $0.79;
Service charge: $2.75
Outstanding checks: #911: $53.29; #912:
$31.16; #913: $20.04; #920: $11.42; #923:
$24.50; #925: $16.90; #930: $33.30; #932:
$8.70; #933: $10.55. Unrecorded deposits
ATM: 7/30: $183.52; 7/31: $69.40.
Unrecorded ATM withdrawals: 7/30: $40.00;
7/31: $50.00
Bank Statement Reconcile Amount:
Check Register Reconcile Amount:
There should be three answers given.
For the following question, reconcile the bank statement and check register. Would they need to make an adjustment or does everything reconcile?
Sylvia’s checkbook balance on July 31 is $389.32. The information on her bank statement is given below. The outstanding checks, unrecorded deposits, and unrecorded ATM transactions are listed here also. From this information will her account reconcile?
Bank statement: $434.30; Interest: $0.79; Service charge: $2.75
Outstanding checks: #911: $53.29; #912: $31.16; #913: $20.04; #920: $11.42; #923: $24.50; #925: $16.90; #930: $33.30; #932: $8.70; #933: $10.55. Unrecorded deposits ATM: 7/30: $183.52; 7/31: $69.40. Unrecorded ATM withdrawals: 7/30: $40.00; 7/31: $50.00
Bank Statement Reconcile Amount:
Check Register Reconcile Amount:
On November 3, Micah Asuncion received from the bank her bank statement for the month of October. She compared her checkbook to the bank statement and discovered the following: Prepare a bank reconciliation.
CHECKBOOK Balance P333,203.50 Balance P369,725.56
Deposits: Deposits:
10/3 P59,600.00 10/3 P59,600.00
10/10 P53,740.00 10/10 P53,700.00
10/26 P27,610.00 10/16 P46,030.00
10/31 P30,260.00 10/26 P27,610.00
Check Issued and Recorded: Checks Cancelled:
No.3 P14,435.00 No.5 P38,206.00
No.5 P38,026.00 No.16 P17,300.00
No.16…
Chapter 4 Solutions
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
Ch. 4 - Prob. 1LOCh. 4 - Describe todays financial services marketplace,...Ch. 4 - Prob. 3LOCh. 4 - Prob. 4LOCh. 4 - Prob. 5LOCh. 4 - Develop a cash management strategy that...Ch. 4 - Adapting to a low-interest-rate environment. A...Ch. 4 - Prob. 2FPECh. 4 - Choosing a new bank. Youre getting married and...Ch. 4 - Prob. 4FPE
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