Homework Answers
| Balance per bank statement | $ 22,500 |
| Less: | |
| Checks outstanding | $ 3,600 |
| Add: | $ 18,900 |
| Deposits outstanding | $ 1,800 |
| Cash that should be reported in the balance sheet | $ 20,700 |
| Note: | |
| What is required is to complete the Bank portion of the reconciliation | |
| statement. Items to be shown as adjustment to the balance as per books | |
| are to be ignored. |
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The balance shown in the August bank statement of a company was $22,500. After examining the...
The balance shown in the August bank statement of a company was $23,700. After examining the...
The balance shown in the August bank statement of a company was $23,700. After examining the August bank statement and items included with it, the company's accountant found: Checks outstanding NSF check Note collected by bank for the Colt Company Deposits outstanding Bank service fees $4, eee 120 1,900 2,400 80 What is the amount of cash that should be reported in the balance sheet as of August 31? Multiple Choice O $18.600. O $24.700. $17.600. O $22,100. O Consider...
Help Save & Exit Submit The balance in a company's Cash account on August 31 was...
Help Save & Exit Submit The balance in a company's Cash account on August 31 was $19,500 before the bank reconciliation was prepared. After examining the August bank statement and items included with it, the company's accountant found Checks outstanding NSF check Note collected by bank for the Colt Company Deposits outstanding Bank service fees $3,800 180 1,850 3,300 200 What is the amount of cash that should be reported in the balance sheet as of August 31? Multiple Choice...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
requirea information [The following information applies to the questions displayed below) The bank statement for Tetra...
requirea information [The following information applies to the questions displayed below) The bank statement for Tetra Company contained the following items: a bank service charge of $70: a credit memo for Interest earned, $75; and a $170 NSF check from a customer. The company had outstanding checks of $400 and a deposit in transit of $900. Assuming that the unadjusted bank balance was $1,800, what is the unadjusted book balance? Book Multiple Choice 0 0 0 0 Rainey Company's true...
Problem 3 (20 pts) Using the following information, prepare the bank reconciliation for the Texas Company...
Problem 3 (20 pts) Using the following information, prepare the bank reconciliation for the Texas Company for March 31, 2016. Be sure to exclude items that do not belong on a bank reconciliation. a. The bank statement balance is $5,000. b. The cash account balance is $3,600. c. Outstanding checks totaled $1,800. d. Deposits in transit are $300. e. The bank service charge is $10. f. Interest reported on the bank statement was $20. g. A check for $100 was...
Nickleson Company had an unadjusted cash balance of $8,977 as of May 31. The company's bank...
Nickleson Company had an unadjusted cash balance of $8,977 as of May 31. The company's bank statement, also dated May 31, included a $55 NSF check written by one of Nickleson's customers. There were $468 in outstanding checks and $260 in deposits in transit as of May 31. According to the bank statement, service charges were $85, and the bank collected a $600 note receivable for Nickleson. The bank statement also showed $12 of interest revenue earned by Nickleson. Required...
Nickleson Company had an unadjusted cash balance of $8,875 as of May 31. The company's bank...
Nickleson Company had an unadjusted cash balance of $8,875 as of May 31. The company's bank statement, also dated May 31, included a $89 NSF check written by one of Nickleson's customers. There were $484 in outstanding checks and $205 in deposits in transit as of May 31. According to the bank statement, service charges were $35, and the bank collected a $1,000 note receivable for Nickleson. The bank statement also showed $12 of interest revenue earned by Nickleson Required...
Nickleson Company had an unadjusted cash balance of $8,742 as of May 31. The company's bank...
Nickleson Company had an unadjusted cash balance of $8,742 as of May 31. The company's bank statement, also dated May 31, included a $58 NSF check written by one of Nickleson's customers. There were $528 in outstanding checks and $280 in deposits in transit as of May 31. According to the bank statement, service charges were $45, and the bank collected a $800 note receivable for Nickleson. The bank statement also showed $18 of interest revenue earned by Nickleson. Required...
Nickleson Company had an unadjusted cash balance of $9,593 as of May 31. The company's bank...
Nickleson Company had an unadjusted cash balance of $9,593 as of May 31. The company's bank statement, also dated May 31, included a $63 NSF check written by one of Nickleson's customers. There were $983 in outstanding checks and $270 in deposits in transit as of May 31. According to the bank statement, service charges were $70, and the bank collected a $550 note receivable for Nickleson. The bank statement also showed $21 of interest revenue earned by Nickleson. Required...
Jones Company collected the following information to prepare its August bank reconciliation: Cash balance per books,...
Jones Company collected the following information to prepare its August bank reconciliation: Cash balance per books, August 31, $9.400. Deposits in transit, $1,100. Notes receivable with interest collected by bank, $2,500. Bank service charges, $50. Outstanding checks, $1,450. NSF check, $400. How much is the adjusted cash balance per books on August 312 $7,030 $11,450 $10,000 $11,100 $10,650
The balance shown in the August bank statement of a company was $23,700. After examining the August bank statement and items included with it, the company's accountant found: Checks outstanding NSF check Note collected by bank for the Colt Company Deposits outstanding Bank service fees $4, eee 120 1,900 2,400 80 What is the amount of cash that should be reported in the balance sheet as of August 31? Multiple Choice O $18.600. O $24.700. $17.600. O $22,100. O Consider...
Help Save & Exit Submit The balance in a company's Cash account on August 31 was $19,500 before the bank reconciliation was prepared. After examining the August bank statement and items included with it, the company's accountant found Checks outstanding NSF check Note collected by bank for the Colt Company Deposits outstanding Bank service fees $3,800 180 1,850 3,300 200 What is the amount of cash that should be reported in the balance sheet as of August 31? Multiple Choice...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
requirea information [The following information applies to the questions displayed below) The bank statement for Tetra Company contained the following items: a bank service charge of $70: a credit memo for Interest earned, $75; and a $170 NSF check from a customer. The company had outstanding checks of $400 and a deposit in transit of $900. Assuming that the unadjusted bank balance was $1,800, what is the unadjusted book balance? Book Multiple Choice 0 0 0 0 Rainey Company's true...
Problem 3 (20 pts) Using the following information, prepare the bank reconciliation for the Texas Company for March 31, 2016. Be sure to exclude items that do not belong on a bank reconciliation. a. The bank statement balance is $5,000. b. The cash account balance is $3,600. c. Outstanding checks totaled $1,800. d. Deposits in transit are $300. e. The bank service charge is $10. f. Interest reported on the bank statement was $20. g. A check for $100 was...
Nickleson Company had an unadjusted cash balance of $8,977 as of May 31. The company's bank statement, also dated May 31, included a $55 NSF check written by one of Nickleson's customers. There were $468 in outstanding checks and $260 in deposits in transit as of May 31. According to the bank statement, service charges were $85, and the bank collected a $600 note receivable for Nickleson. The bank statement also showed $12 of interest revenue earned by Nickleson. Required...
Nickleson Company had an unadjusted cash balance of $8,875 as of May 31. The company's bank statement, also dated May 31, included a $89 NSF check written by one of Nickleson's customers. There were $484 in outstanding checks and $205 in deposits in transit as of May 31. According to the bank statement, service charges were $35, and the bank collected a $1,000 note receivable for Nickleson. The bank statement also showed $12 of interest revenue earned by Nickleson Required...
Nickleson Company had an unadjusted cash balance of $8,742 as of May 31. The company's bank statement, also dated May 31, included a $58 NSF check written by one of Nickleson's customers. There were $528 in outstanding checks and $280 in deposits in transit as of May 31. According to the bank statement, service charges were $45, and the bank collected a $800 note receivable for Nickleson. The bank statement also showed $18 of interest revenue earned by Nickleson. Required...
Nickleson Company had an unadjusted cash balance of $9,593 as of May 31. The company's bank statement, also dated May 31, included a $63 NSF check written by one of Nickleson's customers. There were $983 in outstanding checks and $270 in deposits in transit as of May 31. According to the bank statement, service charges were $70, and the bank collected a $550 note receivable for Nickleson. The bank statement also showed $21 of interest revenue earned by Nickleson. Required...
Jones Company collected the following information to prepare its August bank reconciliation: Cash balance per books, August 31, $9.400. Deposits in transit, $1,100. Notes receivable with interest collected by bank, $2,500. Bank service charges, $50. Outstanding checks, $1,450. NSF check, $400. How much is the adjusted cash balance per books on August 312 $7,030 $11,450 $10,000 $11,100 $10,650
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