Outstanding cheques were # 421 for $157, #485 for $257, # 492 for $167, and #494 for $1,157.Cheque #421 was also outstanding on July 31 and was included on July's bank reconciliation. 1. 2. Included with the statement were EFT deposits totalling $1,727 during August in payment of accounts receivable. These deposits have not been recorded by the company. 3. Cheque #490 was correctly written and paid by the bank for $206. The cheque had been issued to pay accounts payable and the company had recorded it as $266. 4. The bank statement showed a cheque #4832 for $787, which did not appear on the company's books. Investigation revealed that the cheque was actually issued by Wally's Water Works and was charged to Sunland's Sweet Shop's account in error. 5. The bank returned an NSF cheque from a customer for $377. 6. The bank statement showed two debit memoranda for service charges: one for $17 related to the NSF cheque (see item [5] above) and one for $37 for cheque printing charges. The company's policy is to pass on all NSF processing fees to the customer. The company's records showed the August 15 deposit as $4,69O. On the bank statement, it was correctly recorded as $4,990. The deposit was for cash sales. 7. 8. The company has a pre-authorized EFT payment for its monthly utilities for $237 scheduled for the last day of each month. As August 31 was a Sunday this year, the bank posted it on September 1. The company recorded it in August. 9. The $1,347 July 31 bank deposit was recorded on August 1 on the bank statement. The August 31 bank deposit of $2,522 was not included on the August bank statement. Prepare a bank reconciliation. (List items that increase balance as per bank & books first.)

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AB Ltd. had $3,602 in outstanding cheques at the end of July and half of that amount in deposits in transit. Bank service charges are $64 for July and there are no other reconciling items in the July bank reconciliation. Required 1: By how much the adjusted balance shown on the balance sheet is higher or lower than the trial balance? $ Required 2: What is the total credits on the cash account because of the Adjusting Journal entries based on the above information? $

Bridgeport Ltd. had the following information regarding its bank transactions for the month of April 2024: Unadjusted balance per books April 30 Balance per bank statement April 30 1. 2 3. 4. 5. $2,775 11,700 8. Cheques written in April but still outstanding. $6,600. Cheques written in March but still outstanding. $2,800. Deposits of April 30 not yet recorded by bank, $6,200. A customer's cheque for $770 was returned by the bank as NSF. Cheque # 210 for $594 was correctly issued and paid by bank but incorrectly entered in the general journal as a payment on account for $549. 6. Bank service charge for April was $50. 7. A payment on account (Cheque #318) was incorrectly entered in the general journal and posted to the general ledger as $824. However, it had been correctly prepared for $284. The cheque cleared the bank in April. Electronic collections on account totalled $6,050, and have not yet been recorded by the company. Prepare a bank reconciliation for Bridgeport Ltd. at April 30.…

Given the following information to reconcile GCompany’s cash book balance with its bank statement balance as of July 31, 2021: a. Cheques #296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank reconciliation. Cheque #307 was returned with the October cancelled cheques, but cheque #296 was not. It was also found that cheque #315 for $893 and cheque #321 for $2,000, both written in July, were not among the cancelled cheques returned with the statement. b. In comparing the cancelled cheques returned by the bank with the entries in the accounting records, it was found that cheque #320 for the July rent was correctly written for $4,090 but was erroneously entered in the accounting records as $4,900. c. Also enclosed with the statement was a $74 debit memo for bank services. It had not been recorded because no previous notification had been received. d. A credit memo enclosed with the bank statement indicated that there was an electronic fund transfer related to a…

Coasters Co. issued a note receivable to a customer. The customer made payment directly to the Coaster’s bank. The payment appeared on the month-end bank statement. How would this payment be adjusted in the bank reconciliation?     Add to company records (book side)     Subtract from company records (book side)     Subtract from bank statement (bank side)     Add to bank statement (bank side)

the December bank statement has a balance of $5,300 before reconciliation. after reconciliation the adjust balance is 4100. if one deposit in transit amounted to 800 what was the total of the outstanding checks, assuming no other adjustments would be made to the bank statement

(a.) The June 30 balance shown on the bank statement is $5,796. (b.) Outstanding checks at June 30 totaled $330. (c.) A deposit of $424 made on June 30 was not included in the balance shown on the bank statement. (d.) The bank statement contained an adjustment of $410 for a note receivable collected by the bank on behalf of Show Me, Inc. ($382 principal and $28 interest). (e.) A bank charge of $34 was made to the account during June. Although the company was expecting a charge, the amount was not known until the bank statement arrived. (f.) The bank erroneously charged a $340 check of Shirt, Inc., against the Show Me, Inc., bank account. (g.) The June 30 balance in the general ledger Cash account, before reconciliation, is $6,026. (h.) The bank statement included a notice that a customer's check for $172 that had been deposited on June 14 had been returned NSF. (1.) Prepare the bank reconciliation for Show Me, Inc., as of June 30. (2.) Prepare the appropriate adjusting entry(ies) or…

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Bank Reconciliation and Adjusting Entries (Appendix 6.1) Odum Corporation’s cash account showed a balance of $17,198 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,924.55. The following additional information is available concerning Odum’s cash balance on March 31:  • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $173.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement.  • The bank service charge for March was $15. • A deposit of $951.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March 31: #429  $57.40 #432  $147.50 #433  $214.80 #434 $191.90 A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank state-ment had…