Explanation Bank reconciliation : Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books. Prepare the bank reconciliation as at September 30 . Bank Reconciliation September 30 Balance as per bank statement, September 30 $3,400 Add: Deposits in transit 2,400 5,800 Less: Outstanding checks Check Number: 203 $1,500 Check Number: 205 350 Check Number: 208 25 Check Number: 210 425 Check Number: 211 500 2,800 Adjusted cash balance $3,000 Balance per depositor’s records, September 30 $3,001 Add: Interes...

18th Edition

ISBN: 9781260706307

Author: Jan Williams

Publisher: Mcgraw-hill Higher Education (us)

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Chapter 7, Problem 1E

To determine

Prepare the bank reconciliation as at September 30.

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Chapter 7, Problem 11BE

Chapter 7, Problem 2E

Chapter 7 Solutions

Financial Accounting

Ch. 7 - Prob. 1STQ Ch. 7 - Prob. 2STQ Ch. 7 - Prob. 3STQ Ch. 7 - Prob. 4STQ Ch. 7 - Prob. 5STQ Ch. 7 - 6. Which of the following best describes the...Ch. 7 - On January 1, Dillon Company had a $3,100 credit...Ch. 7 - Under the direct write-off method of accounting...Ch. 7 - Which of the following actions is least likely to...Ch. 7 - On October 1, 2018, Coast Financial loaned Barr...

Ch. 7 - Puget Sound Co. sold marketable securities costing...Ch. 7 - Prob. 1DQ Ch. 7 - Prob. 2DQ Ch. 7 - Prob. 3DQ Ch. 7 - 4. What are lines of credit? From the viewpoint of...Ch. 7 - Prob. 5DQ Ch. 7 - Prob. 6DQ Ch. 7 - Prob. 7DQ Ch. 7 - 8. Explain the fair value adjustment procedure for...Ch. 7 - Prob. 9DQ Ch. 7 - 10. Explain the relationship between the matching...Ch. 7 - 11. In making the annual adjusting entry for...Ch. 7 - 12. Must companies use the same method of...Ch. 7 - Prob. 13DQ Ch. 7 - Prob. 14DQ Ch. 7 - 15. What is the formula for computing interest on...Ch. 7 - BRIEF EXERCISE 7.1 Cash and Cash Equivalents The...Ch. 7 - Prob. 2BE Ch. 7 - Prob. 3BE Ch. 7 - BRIEF EXERCISE 7.4 Accounting for Marketable...Ch. 7 - Prob. 5BE Ch. 7 - BRIEF EXERCISE 7.6 Accounting for Uncollectible...Ch. 7 - BRIEF EXERCISE 7.7 Accounting for Uncollectible...Ch. 7 - BRIEF EXERCISE 7.8 Analyzing Accounts...Ch. 7 - BRIEF EXERCISE 7.9 Notes Receivable and...Ch. 7 - BRIEF EXERCISE 7.10 Industry Characteristics and...Ch. 7 - BRIEF EXERCISE 7.11 Analyzing Accounts...Ch. 7 - Prob. 1E Ch. 7 - EXERCISE 7.2 Financial Assets The following...Ch. 7 - Prob. 3E Ch. 7 - Prob. 4E Ch. 7 - Prob. 5E Ch. 7 - Prob. 6E Ch. 7 - EXERCISE 7.7 The Nature of Marketable...Ch. 7 - EXERCISE 7.8 Reporting Uncollectible Accounts The...Ch. 7 - EXERCISE 7.9 Industry Characteristics and...Ch. 7 - Prob. 10E Ch. 7 - Prob. 11E Ch. 7 - EXERCISE 7.12 Effects of Accounting...Ch. 7 - EXERCISE 7.13 Accounting for Marketable...Ch. 7 - Prob. 14E Ch. 7 - EXERCISE 7.15 Using the Financial Statements of...Ch. 7 - Prob. 1AP Ch. 7 - Prob. 2AP Ch. 7 - PROBLEM 7.3A Aging Accounts Receivable;...Ch. 7 - PROBLEM 7.4A Accounting for Uncollectible...Ch. 7 - Prob. 5AP Ch. 7 - PROBLEM 7.6A Notes Receivable Eastern Supply sells...Ch. 7 - Prob. 7AP Ch. 7 - Prob. 8AP Ch. 7 - Prob. 1BP Ch. 7 - Prob. 2BP Ch. 7 - PROBLEM 7.3B Aging Accounts Receivable;...Ch. 7 - PROBLEM 7.4B Accounting for Uncollectible...Ch. 7 - Prob. 5BP Ch. 7 - PROBLEM 7.6B Notes Receivable Midtown Distribution...Ch. 7 - Prob. 7BP Ch. 7 - Prob. 8BP Ch. 7 - CASE 7.1 Accounting Principles In each of the...Ch. 7 - CASE 7.2 If Things Get Any Better, We’ll Be...Ch. 7 - CASE 7.3 “Improving” the Balance Sheet Affections...

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