6. After comparing your bank statement, canceled checks, and checkbook register, complete thereconciliation statement shown below. What are the new and adjusted balances?Reconciliation StatementCheck Register BalanceService ChargeNEW BALANCE>285.14-8.10Reconciliation statementProvided for your convenienceStatement BalanceOutstanding Checks# 202# 203$35.92$28.75Total Checks > (-)Outstanding Deposits4/84/16$129.08$30.00Total Deposits> (+)ADJUSTED BALANCE182.63

Ideally cash balance as per cashbook and bank balance as per bank statement must reconcile with each…

Answered: 6. After comparing your bank statement,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Sal's Surf Shop deposits all receipts in the bank and makes all payments by check. On July 31 the cash account had a balance of $6,105.42. The bank statement on July 31 reported a balance of $4,146.46. Upon comparing the bank statement to the books, the following items were found. а. A bank debit memo issued for an NSF check from a customer of $21.25. b. A bank credit memo issued for interest of $8.50 earned during the month. С. During the evening of July 31, a deposit of $1,948.25 was made, which is not shown on the bank statement. d. A bank debit memo issued for $18.50 for bank service charges. е. Checks for the amounts of $34.00, $17.85, and $93.25 were written during July but have not yet been received by the bank. f. The reconciliation from the previous month, June, showed outstanding checks of $260.80. One of these checks in the amount of $7.38 has not yet been received by the bank. g. After comparing the canceled checks to the bank statement, it was discovered that a check…
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multiple choice quetion a.When preparing a bank reconciliation statement and the closing bank statement balance is an overdraft, we begin with the balance in the bank statement and then: add unpresented cheques and deduct outstanding receipts. add outstanding receipts and deduct unpresented cheques. add all receipts and deduct all payments. 4.add all payments and deduct all receipts
2. Your checkbook balance was $206.42 on March 3. The check register shows your transactions since then. What should your new balance be? Trans Type Date Description of Transaction or Check # 284 DEP AT Payment / Debit ✓ Deposit / Credit (+) (-) Balance Brought Forward 3/9 Osbourne Pharmacy 3/15 ATM Deposit 3/20 Auto trans: Gen Phone 19 32 50 80 120 49 Balance
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FHA-insured loans insure lenders against a. decline in real estate values. b. loss due to foreclosure. . loss due to borrowers losing their jobs, d. late payments by borrowers.
The accompanying table, Data table Date Deposit (Withdrawal) Date Deposit (Withdrawal) 1/1/20 $8,000 1/1/22 $3,272 1/1/21 $(6,540) 1/1/23 $5,255 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) , shows a series of transactions in a savings account. The account pays 5% simple interest, and the account owner withdraws interest as soon as it is paid. Calculate the following: a. The account balance at the end of each year. (Assume that the account balance at December 31, 2019, is zero.) b. The interest earned each year. c. The true rate of interest that the investor earns in this account. Question content area bottom Part 1 a. The account balance at the end of 2020 is $8,0008,000. (Round to the nearest dollar.) Part 2 The account balance at the end of 2021 is $1,9531,953. (Round to the nearest dollar.)
Current Attempt in Progress Identify whether each of the following items would be (a) added to the book balance, or (b) deducted from the book balance in a bank reconciliation. 1. 2 3. 4. 5. EFT transfer to a supplier. Bank service charge. Check printing charge. Error recording check # 214 which was written for $260 but recorded for $620. Collection of note and interest by the bank on the company's behalf.
do i add the opening balance after the difference of opening balance of bank statement and cash book gives me zero when i update the cash book?
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