E-25 (L08) (Bank Reconciliation and Adiusting Entries) Logan Bruno Company has just bank statement, which is summarized below. m ldli Balance Disbursements Receipts County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $40 interest Checks cleared during August Bank service charges Balance, August 31 $ 9,369 41,569 hos 42,609 8,109 8,089 8,089 $32,200 1,040 $34,500 20 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 Receipts during August 34,903 BRY lnd brut dao Disbursements in August 10,050 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,050. Cash on hand at August 3: $310 The bnnkkeener imnronorlu ontonod ono oboglc in tho books at $146 50 which was written for $164.50 for supplies (expen-

E-25 (L08) (Bank Reconciliation and Adiusting Entries) Logan Bruno Company has just bank statement, which is summarized below. m ldli Balance Disbursements Receipts County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $40 interest Checks cleared during August Bank service charges Balance, August 31 $ 9,369 41,569 hos 42,609 8,109 8,089 8,089 $32,200 1,040 $34,500 20 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 Receipts during August 34,903 BRY lnd brut dao Disbursements in August 10,050 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,050. Cash on hand at August 3: $310 The bnnkkeener imnronorlu ontonod ono oboglc in tho books at $146 50 which was written for $164.50 for supplies (expen-

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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Bank Raconciliation The folowing data were accumudated for use in raconciling the bark account of Mathers Ca. for Juy: 1. Cash balance according to the company's records at July 31, $32,110. 2. Cash balance according to the bank statament at uly 31, $31,350. 3. Checks outstanding, $2,870. 4. Diposit in transik, not recorded by bank, $4,150. S. A check for $170 in payment of an accout was orroneously recorded in the check regite as $710. 6. Bank debit memo for service charges, $20. a Propare a bank reconcilation, uing the format shown in Exhibit 14. Hathers Co. Bark Raconciliation Cash balance according to bark satement Add deposit in transit, not recorded by bank Deduct outstanding chacks Adustad batance Cash balance acording to company's ncords Add error in recording check as $710 instead of $170 Daduct bank service charge Aduilad balane DEVZE Petack YCheck My Wuk . Sup twO u cre for th cRmpa MTUn ad he uher lor he bark bance n Delamne he wf b. If the balarka stdprepur x ott're Must…
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The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Using the following accounts: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks prepare the two correcting journal entries: DR [ Select ] ["Bank Service Charges", "Interest Expense", "Interest Income", "Bank Errors", "Cash"] [ Select ] ["$569", "$30", "$300", "$1,020", "$852"] CR [ Select ] ["Interest Expense", "Cash", "Bank Service Charges", "Interest Income", "Bank Errors"] [ Select ] ["$852", "$300", "$569", "$1,030", "$30"] and DR…
Bank reconciliation and entries The following information was available to reconcile Nelson Company's book cash balance with its bank statement as of September 30, 2021: The September 30 cash balance according to the accounting records was $21,870. Oustanding checks from August's bank reconciliation: Check # 356 $1,240 Check # 357 775 Check # 359 3,280 Check # 360 924 Below is a record of the cash receipts and cash payments for September: Cash Deposits Cash Payments Date Amount Check# Amount Sep 2 $8,359 361 $3,268 Sep 4 11,250 362 7,140 Sep 6 4,371 363 4,257 Sep 12 5,260 364 3,525 Sep 15 12,118 365 4,160 Sep 18 7,493 366 1,789 Sep 22 5,395 367 6,285 Sep 27…
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
Hi please use the excel template
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
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.
Review the information below: Cash balance per bank is $7,338. Bank service charge $40 Cash balance per book is $7,374 Deposits in transit $2,710 EFT $2,026 Outstanding checks $688 What is the adjusted balance for bank and books after reconciliation? $10,050 $10,048 $9,360 $9,400
Using the following information: Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35 and using the following accounts/items: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks you are to prepare a bank reconciliation: Bank Balance [ Select ] Book Balance [ Select] Add items: Add items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] Less items: Less items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select] [ Select ] Adjusted Bank Bal. [ Select ] Adjusted Book Bal. [ Select ] PLEASE NOTE: For the above reconciliation, if no dollar amount is needed, please use "$0" or if no item is needed, please use "None" - no quotation marks. You must enter the account and item names exactly as written above and all dollar amounts will be with "$" and commas…