Core Company provided the following data for the purpose of reconciling the cash balance per book with the cash balance per bank statement on December 31: Balance per book                                                                        850,000 Balance per bank statement                                                       2,000,000 Outstanding checks, including certified check of P100,000       500,000 Deposit in transit                                                                        200,000 December NSF checks, of which P50,000 had been redeposited and cleared on December                             27 150,000 Erroneous credit to Core’s account, representing proceeds of loan granted to another company                          300,000 Proceeds of note collected by bank for Core, net of service charge of P20,000                                                  750,000 What amount should be reported as cash in bank at year-end?

The cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $32,991. During October, the total cash deposited was $139,960, and checks written totaled $137,747. The bank statement indicated a balance of $43,370 on October 31, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,476. b. A deposit of $1,779 representing receipts of October 31, had been made too late to appear on the bank statement. c. The bank had collected for Coastal Bike Co. $5,250 on a note left for collection. The face of the note was $5,000. d. A check for $580 returned with the statement had been incorrectly charged by the bank as $850. e. A check for $210 returned with the statement had been recorded by Coastal Bike Co. as $120. The check was for the payment of an obligation to Rack Pro Co. on account. f. Bank service charges for October amounted to $28. g. A check for…

Please explain how to calculate the results to the below problem.   Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below:   BANK STATEMENT   Checks Deposits Balance Balance, June 1                   $ 6,500   Deposits during June           $ 16,200       22,700   Checks cleared during June   $ 16,600               6,100   Bank service charges     40               6,060   Balance, June 30                     6,060       Cash (A) June 1 Balance 6,500   June Checks written 19,000 June Deposits 18,100         Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,400. A deposit of $1,900 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that…

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31.    On July 31, the company’s Cash account has a $25,507 debit balance, but its July bank statement shows a $27,043 cash balance. Check No. 3031 for $1,180, Check No. 3065 for $366, and Check No. 3069 for $1,948 are outstanding checks as of July 31. Check No. 3056 for July rent expense was correctly written and drawn for $1,280 but was erroneously entered in the accounting records as $1,270. The July bank statement shows the bank collected $7,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. The July statement shows a $11 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received.…

The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,127 debit balance, but its July bank statement shows a $27,260 cash balance. b. Check Number 3031 for $1,420, Check Number 3065 for $486, and Check Number 3069 for $2,188 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,290 but was erroneously entered in the accounting records as $1,280. d. The July bank statement shows the bank collected $9,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $14 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification…

Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash account balance for Rexrode is $21,245.75. The following data were gathered by Rexrode's accountant: Outstanding checks as of January 31: $4,895.44 ● NSF check from customer: $183.62 • Debit memo related to the returned deposit: $20.00 Credit memo for interest earned: $12.00 • Deposits in transit: $1,236.77 Required: a. Prepare a bank reconciliation for Rexrode Company at January 31. b. Indicate how each of the required adjusting entries impact the financial statements. . • Complete this question by entering your answers in the tabs below. Required A Required B Indicate how each of the required adjusting entries impact the financial statements. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Round your answers to 2 decimal places. Item Outstanding checks NSF check from a customer Debit memo related to the…

In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30 Deposits in transit at month-end Outstanding checks at month-end Bank charge Note collected by bank on Donahue's behalf A check paid to Donahue during the month by a customer is returned by the bank as NSF The adjusted cash balance per the books on April 30 is: $6,275 $1,300 $ 620 $ 45 $770 $ 480

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31. On July 31, the company’s Cash account has a $25,242 debit balance, but its July bank statement shows a $27,378 cash balance. Check Number 3031 for $1,420, Check Number 3065 for $486, and Check Number 3069 for $2,188 are outstanding checks as of July 31. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. The July bank statement shows the bank collected $7,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. The July statement shows a $11 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been…

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As of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028. The following information is available: 1. Deposit in transit, $2,795. 2. Credit memo in bank statement for interest earned in June: $14. 3. Outstanding check: $3,946. 4. Debit memo for service charge: $12. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ $ 18,181 18,181 4 0