Homework Answers
Bank balance 12000
Add: Note Collected by the bank $1500
Add: deposit in transit $5000
$18500
Less: Cheque outstanding $4000
Less: service fee $20
Less: NFS check $480
Cash balance in balance sheet : $14000
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The following information was taken from BammerCo's bank reconciliation at the end of the year: Bank...
Prepare a bank reconciliation for March 31, 2012, given the following
Prepare a bank reconciliation for March 31, 2012, given the followingA. The bank statement balance is $4,000B. The cash account balance is $3,000C. The Outstanding checks total $1,500D. Deposits in transit are $500E. The bank service charge is $20F. Interest reported on the bank statement was $10G. A check for $10 was recorded as $100 in the ledgerH. A NSF for $80 was returned with the statement. This was not known until it came in the bank statement.
#1. Inventory records for Kapital Inc revealed the following Date Transaction # of units Unit Cost...
#1. Inventory records for Kapital Inc revealed the following Date Transaction # of units Unit Cost Mar 1 Beginning Inventory 1000 $ 7.20 Mar 10 Purchase 600 7.25 Mar 16 Purchase 800 7.30 Mar 23 Purchase 600 7.35 Kapital sold 2200 units of inventory during the month. Costs of goods sold assuming FIFO would be ? A) 16,660 B)15,930 C)16,040 D) 5,130 E) 16,760 #2. The following information was taken from Apex's bank reconciliation at the end of the year...
Schwinn Company assembled the following information in completing its March bank reconciliation: Balance per bank Outstanding...
Schwinn Company assembled the following information in completing its March bank reconciliation: Balance per bank Outstanding checks Deposits in transit NSF check Bank service charges Cash balance per books $12,224 $2,480 $4,000 $256 $80 $14,080 As a result of this reconciliation, Schwinn will reduce its cash account by $1,520. reduce its cash account by $80. increase its cash account by $176. reduce its cash account by $336. > Moving to another question will save this response. << < Question 18...
wir work) Prob#3: Use the following Information to Answer the Questions Below using a Bank Reconciliation...
wir work) Prob#3: Use the following Information to Answer the Questions Below using a Bank Reconciliation A. Assume Any Differences Found are Errors made by the Bank B. Items included on the Books (General Ledger) of the JW-Corp For May were as follows: 1. Ending GL Cash Balance at May 31st was $53,000 2. Deposits made During the month were on May 22nd=$11,000, May 28th $29,000, and May 30th=$30,000. 3. Checks written from our GL account were #302=$12,000, #303=$13,000, #304=$5,000,...
he following information was taken from a company’s bank reconciliation at the end of the year:...
he following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 8,900 Checks outstanding $ 7,700 Note collected by the bank $ 1,300 Service fee $ 25 Deposits outstanding $ 4,100 NSF check $ 300 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? a.$5,275. b.$9,900. c.$5,300. d.$8,600. 2 At December 31, Gill Co. reported accounts receivable of $292,000 and...
Exercise 3: The following information pertains to Noura Company. 1. Cash balance per bank, July 31,...
Exercise 3: The following information pertains to Noura Company. 1. Cash balance per bank, July 31, R$29000. 2. July bank service charge not recorded by the depositor R$125. 3. Cash balance per books, July 31, R$25,358. 4. Deposits in transit, July 31, R$2,200. 5. Bank collected R$4,986 note for Noura in July, plus interest R$245, less fee R$35. The collection has not been recorded by Noura, and no interest has been accrued. 6. Outstanding checks, July 31, R$771. You are...
33. Wilson Company gathered the following reconciling information in preparing its August bank reconciliation: $7,000 300...
33. Wilson Company gathered the following reconciling information in preparing its August bank reconciliation: $7,000 300 1,700 40 4,000 340 Cash balance per books, 8/31 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check The adjusted cash balance per books on August 31 is a. $8,320. b. $8,020. c. $4,620. d. $4,920. 34.An adjusting entry is not required for a. outstanding checks. b. collection of a note by the bank....
E7.24 (LO6) (Bank Reconciliation and Adjusting Entries) Kipling plc deposits all receipts and makes all payments by chec...
E7.24 (LO6) (Bank Reconciliation and Adjusting Entries) Kipling plc deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation Balance per bank ￡7,000 Add: Deposits in transit 1,540 Deduct: Outstanding checks 2,000 Balance per books ￡6,540 Month of July Results Per Bank Per Books Balance July 31 ￡8,650 ￡9,250 July deposits 4,500 5,810 July checks 4,000 3,100 July note collected (not included in July deposits) 1,500 — July...
Marta Company gathered the following information in preparing its August bank reconciliation: Cash balance per books,...
Marta Company gathered the following information in preparing its August bank reconciliation: Cash balance per books, 8/31 (unadjusted) $87,000 Deposits in transit 300 Notes receivable and interest collected by bank 1,700 Bank charge for check printing 40 Outstanding checks 4,000 NSF check 340 The adjusted cash balance per books on August 31 is: O$84,620 O $88,020 o $88,320 O $84,920
Shown below is the bank reconciliation for Marvelous Company for May 2019: Balance per bank, May...
Shown below is the bank reconciliation for Marvelous Company for May 2019: Balance per bank, May 31, 2019 P75,000 Add: Deposits in transit 12,000 Total 87,000 Less: Outstanding checks P14,000 Bank credit recorded in error 5,000 19,000 Cash balance per books, 5/31/19 P68,000 The bank statement for June 2019 contains the following data: Total deposits P55,000 Total charges, including an NSF check of P4,000 and a service charge of P200 48,000 All outstanding checks on May 31, 2019, including the...
Schwinn Company assembled the following information in completing its March bank reconciliation: Balance per bank Outstanding checks Deposits in transit NSF check Bank service charges Cash balance per books $12,224 $2,480 $4,000 $256 $80 $14,080 As a result of this reconciliation, Schwinn will reduce its cash account by $1,520. reduce its cash account by $80. increase its cash account by $176. reduce its cash account by $336. > Moving to another question will save this response. << < Question 18...
wir work) Prob#3: Use the following Information to Answer the Questions Below using a Bank Reconciliation A. Assume Any Differences Found are Errors made by the Bank B. Items included on the Books (General Ledger) of the JW-Corp For May were as follows: 1. Ending GL Cash Balance at May 31st was $53,000 2. Deposits made During the month were on May 22nd=$11,000, May 28th $29,000, and May 30th=$30,000. 3. Checks written from our GL account were #302=$12,000, #303=$13,000, #304=$5,000,...
Exercise 3: The following information pertains to Noura Company. 1. Cash balance per bank, July 31, R$29000. 2. July bank service charge not recorded by the depositor R$125. 3. Cash balance per books, July 31, R$25,358. 4. Deposits in transit, July 31, R$2,200. 5. Bank collected R$4,986 note for Noura in July, plus interest R$245, less fee R$35. The collection has not been recorded by Noura, and no interest has been accrued. 6. Outstanding checks, July 31, R$771. You are...
33. Wilson Company gathered the following reconciling information in preparing its August bank reconciliation: $7,000 300 1,700 40 4,000 340 Cash balance per books, 8/31 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check The adjusted cash balance per books on August 31 is a. $8,320. b. $8,020. c. $4,620. d. $4,920. 34.An adjusting entry is not required for a. outstanding checks. b. collection of a note by the bank....
Marta Company gathered the following information in preparing its August bank reconciliation: Cash balance per books, 8/31 (unadjusted) $87,000 Deposits in transit 300 Notes receivable and interest collected by bank 1,700 Bank charge for check printing 40 Outstanding checks 4,000 NSF check 340 The adjusted cash balance per books on August 31 is: O$84,620 O $88,020 o $88,320 O $84,920
Shown below is the bank reconciliation for Marvelous Company for May 2019: Balance per bank, May 31, 2019 P75,000 Add: Deposits in transit 12,000 Total 87,000 Less: Outstanding checks P14,000 Bank credit recorded in error 5,000 19,000 Cash balance per books, 5/31/19 P68,000 The bank statement for June 2019 contains the following data: Total deposits P55,000 Total charges, including an NSF check of P4,000 and a service charge of P200 48,000 All outstanding checks on May 31, 2019, including the...
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