14. The books of Hotsilog Service Inc. disclosed a cash balance of P48,757 on June 30. The bank statement as of June 30 showed a balance of P54,780. Additional information that might be useful in reconciling the two balances follows: a. Outstanding checks totaled P9,885 as of June 30. b. Deposit in transit totaled P13,425 as of June 30. С. There were bank service charges for June of P210 not yet recorded on the books. d. Hotsilog's account had been charged on June 26 for a customer's NSF check for P1,296. A bank memo stated that a customer's note for P9,000 and interest of P164 had been collected on е. June 27. f. Check payable to creditors for P3,000 was erroneously recorded on the books as P4,500. g. The deposit of June 24 was recorded on the books as P2,895, but it was actually a deposit of P2,700. h. Hotsilog's account had been credited by the bank for P600. This amount should have been credited to Langsilog. How much is the correct cash balance at the end of the month? A. 57,720 B. 57,270 C. 58,920 D. 58,290

Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20Y5 , were as follows:   Instructions  1. Journalize the selected transactions. 2. Based on the following data, prepare a bank reconciliation for December of the current year: Balance according to the bank statement at December 31, $283,000. Balance according to the ledger at December 31, $245,410. Checks outstanding at December 31. $68,540. Deposit in transit, not recorded by bank, $29,500. Bank debit memo for service charges , $750. A check for $12,700 in payment of an invoice was incorrectly recorded in the accounts as $12,000. 3. Based on the bank reconciliation prepared in (2), journalise the entry or entries to be made by Kornett Company.Use the Miscellaneous Administrative Expense account to record bank service charges. 4. Based on the following selected data, journalize the adjusting entries as of December 31 of the current year:  A. Estimated uncollectible accounts at December…

The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company’s records at July 31, $49,910. 2. Cash balance according to the bank statement at July 31, $48,250. 3. Checks outstanding, $4,460. 4. Deposit in transit, not recorded by bank, $6,450. 5. A check for $590 issued in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $30.   Required:   Journalize the entry or entries that should be made by the company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. CHART OF ACCOUNTSNakajima Co.General Ledger   ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes…

Using the following information:  The bank statement balance is $3,093. The cash account balance is $3,305. Outstanding checks amounted to $767. Deposits in transit are $815. The bank service charge is $155. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 31 Cash balance according to bank statement   $fill in the blank 1 Adjustments:       $- Select -     - Select -   Total adjustments   fill in the blank 6 Adjusted balance   $fill in the blank 7 Cash balance according to company's records   $fill in the blank 8 Adjustments:       $- Select -     - Select -   Total adjustments   fill in the blank 13 Adjusted balance   $fill in the blank 14

The Cash account of Ranger Security Systems reported a balance of $2,550 at December 31, 2025. There were outstanding checks totaling $800 and a December 31 deposit in transit of $100. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,910. Included in the bank balance was a collection of $670 on account from Sally Jones, a Ranger Security Systems customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger Security System earned on its bank balance. Prepare Ranger Security System's bank reconciliation at December 31. Ranger Security Systems Bank Reconciliation Bank: Balance, December 31, 2025 ADD: Deposit in transit December 31, 2025 LESS: Outstanding checks Adjusted bank balance, December 31, 2025 Book: Balance, December 31, 2025 ADD: LESS: Service charge Adjusted book balance, December 31, 2025

Prepare a bank reconciliation from the following information:a. Balance per bank statement as of May 31, $17,755.44b. Balance per books as of May 31, $12,211.94c. Deposits in transit, $2,254.81d. Outstanding checks, $7,819.16e. Bank service charge, $20.85

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The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $188,438. The bank statement indicated a balance of $195,688 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $19,427. b. A deposit of S12,300, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $28,500 on a $25,000 note, including interest of $1,500. d. A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. f. Bank service charges for June amounted to $55 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.…

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $89,775. The bank statement indicated a balance of $125,160 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: A. Checks outstanding totaled $31,540. B. A deposit of $18,000, representing receipts of June 30, had been made too late to appear on the bank statement. C. The bank collected $24,075 on a $22,500 note, including interest of $1,575. D. A check for $1,700 returned with the statement had been incorrectly recorded by Pala Medical Co. as $170. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. E. A check drawn for $290 had been erroneously charged by the bank as $920. F. Bank service charges for June amounted to $70.     Instructions 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact…

Refer to the information given below: a. The August 31 balance shown on the bank statement is $9,050. b. There is a deposit in transit of $1,300 at August 31. c. Outstanding checks at August 31 totaled $1,620. d. Interest credited to the account during August but not recorded on the company's books amounted to $68. e. A bank charge of $44 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $142 had been recorded as a disbursement of $412. g. The August 31 balance in the general ledger Cash account, before reconciliation, is $8,436. Required: a-1. Show the reconciling items in a horizontal model that should be prepared to reflect the reconciling items as on August 31. (Use amounts with + for increases and amounts with for decreases.) Cash Assets…