CaksundrBank ReconciationAn accounting clerk for Chesner Co. prpared the following bank reconcilationChesner CaBank ReconcilliationS,170Cash balance according to company's recordsoze'tsspp tupur O YEror by Chener Co. in recording CheckNote for $12,a00 collected by bark, including interest13,310O6'stsIE tny uo uen odeg prpegozt'sBank ervice charges09oer'Cash balance according to bank sateent09s'1sa From the datan thes bank reconcution, pripare a new bank reconalation for Chener Co, useng the format showe in the uratChesner Co.Bank ReconcilationAdd daposit in trait on August 31Deduct outaanding checksAllad balaneAundam tupaeAdd rror in rconding Chack No. 10 as S710 inted of s0Add note for S12.00 collected by bank, indading ntartDeduct bank ervice charges

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…

Answered: Caksundr Bank Reconciation An…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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.
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Azalea Company: Balance per bank $ 23,360 Balance per company records 19,490 Bank service charges 110 Deposit in transit 3,440 NSF check 1,270 Outstanding checks 8,690 a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Azalea Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $ 18,250 Balance per company records 8,500 Bank service charges Deposit in transit Note collected by bank with $190 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 50 2,650 5,150 7,300
7. The following information pertains to Mekka Company. a. Cash balance as per bank, July 31, RO 14,526 b. July bank service charges not recorded by the depositor RO 56 c. Cash balance as per books, July 31, RO 14,568 d. Deposit in transit, July 31, RO 3,000 e. Bank collected RO 1800 note for Mekka in July, plus interest RO 72, less fee RO 40. The collection has not been recorded by Mekka, and no interest has been accrued. f. Outstanding checks, July 31, RO 1182. Instruction: Prepare bank reconciliation at July 31
Prepare adjusting journal entries to reconcile the book and bank balances
Bank reconcjliation Instructions Chart of Accounts First Question Journal Instructions The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $17,350 Balance pir company records 10,035 Bank service charges 35 Deposit in transit 3,350 Note collected by bank with $190 interest 4,600 Outstanding checks 6,100 Instructions a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wordina of Check My Work
Rakesh
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30:1. Balance per Cash account, June 30, $15,875.55.2. Balance per bank statement, June 30, $16,425.56.3. Deposits not reflected on bank statement, $1,631.25.4. Outstanding checks, June 30, $2,836.01.5. Service charge on bank statement not recorded in books, $24.75.6. Error by bank—Yertel Company check charged on Young Company’s bank statement, $1,237.50.7. Check for advertising expense, $562.50, incorrectly recorded in books as $1,170.00.
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Bradford Company: Balance per bank $ 17,400 Balance per company records 8,195 Bank service charges Deposit in transit Note collected by bank with $130 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 45 3,100 4,900 7,450 b. Journalize any necessary entries for Bradford Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 1 Cash balance according to company’s records $10,639.00 2 Adjustments: 3 Outstanding checks $3,670.00 4 Error by Chesner Co. in recording Check No. 1056 as $730 instead of $370 360.00 5 Note for $12,700 collected by bank, including interest 13,208.00 6 Deposit in transit on July 31 (6,001.00) 7 Bank service charges (20.00) 8 Total adjustments 11,217.00 9 Cash balance according to bank statement $21,856.00 A. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the Let’s Review section. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or…
Please answer required a,b

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