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Determination of the Bank balance prior to adjustments and balance on the books prior to adjustments
|Adjusted Cash Balance||$ 4,968.05|
|Less: Deposit in transit||$ (396.06)|
|Add: Outstanding checks||$ 502.15|
|Bank balance prior to adjustments||$ 5,074.14|
|Adjusted Cash Balance||$ 4,968.05|
|Add: NSF Checks||$ 231.79|
|Less: Interest earned||$ (99.48)|
|Add: Bank service charges||$ 25.00|
|Balance on the book prior to adjustments||$ 5,125.36|
eBook Calculator Working Backward: Bank Reconciliation Dexter Company's bank reconciliation shows an adjusted cash balance of...
Working Backward: Bank Reconciliation Dexter Company's bank reconciliation shows an adjusted cash balance of $4,968.05. The following items also appear on the reconciliation NSF check $231.79 Deposit in transit 396.06 Interest earned 99.48 Outstanding checks 502.15 Bank service charges 25.00 Required: 1. Determine the balance on the bank statement prior to adjustment. Round your answer to the nearest cent. 2. Determine the balance on the books prior to adjustment. Round your answer to the nearest cent.
Calculator Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation Cash balance per books, 9/30 Deposits in transit Notes receivable and interest collected by bank 630 Bank charge for check printing Outstanding checks NSF check Calculate the adjusted cash balance per books on September 30. Oa. $3,040. Ob. $5,130. Oc. $1,590. $2,750 200 50 1,250 290 All work saved
eBook Calculator Cornerstone Exercise 4-17 (Algorithmic) Bank Reconciliation The accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items were identified: Bellows' book balance $28,750 Outstanding checks 900 77 Interest earned on checking account Customer's NSF check returned by the bank 332 In addition, Bellows made an error in recording a customer's check; the amount was recorded in cash receipts as $370; the bank recorded the amount correctly as $730. Required: What amount will...
bank reconciliation Bank Reconciliation The following information is available to assist you in preparing a bank reconciliation for Burgoon Enterprises on May 31: a. The balance on the May 31 bank statement is $8,432.11. b. Not included on the bank statement is a $1,250 deposit made by Burgoon Enterprises late on May 31. c. A comparison between the canceled checks returned with the bank statement and the company records indicated that the following checks are outstanding at May 31: No....
Help Following is a bank reconciliation for Zocar Enterprises for June 30, 2018 points Cash Bank Account Statement $23,895 $19,905 5,000 (490) 1,340 (20) (800) $24,415 $ 24, 415 Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 eBook References As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient...
Based on the following information, prepare a bank reconciliation to determine the adjusted corrected balance: (nput each amount as a positive value) S 12 Bank balance Checkbook balance Outstanding checks Direct deposits 680 Account fees 642 ATM withdrawals $ 112 Deposit in transit $ 70 Interest earned Bank Statement Your Checkbook Bank balance Checkbook balance AddAddT 11 - Less TI Adjusted bank statement balance Adjusted checkbook balance
Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation for the period showed an adjustment for a deposit in transit of $1,200, outstanding checks of $1,600, a NSF check of $560, bank service charges of $24 and the EFT from a customer in payment of the customer's account of $1,200. What journal entry should be recorded by Egrane for the NSF check returned? MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
Cheyenne is unable to reconcile the bank balance at January 31. Cheyenne's reconciliation is as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $4,300.20 320.00 34.00 $4,586.20 Cash balance per books $4,615.20 Less: Deposits in transit 900.00 Add: Outstanding checks 939.00 Adjusted balance per books $4,654.20 Prepare a correct bank reconciliation. (List items that increase cash balance first. Reconcile cash balance per bank first. Round answers to 2 decimal places, e.g. 52.75.)...
1. What is the purpose of a Bank Reconciliation Statement? 2.Preparing a bank Reconciliation Statement: •The July 31 bank statement for Parkview Company indicated a cash balance of $5,000.17. •The cash ledger account on that date shows a balance of $4,262.83. •Four outstanding checks totaled $717.75. •A $410.90 deposit made after banking hours on July 31 does not appear in the bank statement. •On July 30, the bank returned J.B. Ball’s NSF check for $50.25, received as payment of an...
E7-9Anna Pelo is unable to reconcile the bank balance at January 31. Anna's reconciliation is as follows.Cash balance per bank $3,560.20Add: NSF check 690.00Less: Bank service charge 25.00Adjusted balance per bank $4,225.20Cash balance per books $3,875.20Less: Deposits in transit 530.00Add: Outstanding checks 930.00Adjusted balance per books $4,275.20Prepare a correct bank reconciliation. (List amounts from largest to smallest eg 10, 5, 3, 2. Enter all amounts as positive amounts and subtract wherenecessary.)