Peterson Company's general ledger shows a cash balance of $7,480 on May 31. May cash receipts of $1,320, included in the general ledger balance, are placed in the night depository at the bank on May 31 and processed by the bank on June 1. The bank statement dated May 31 shows an NSF check from a customer for $160 and a service fee of $70. The bank processes all checks written by the company by May 31 and lists them on the bank statement, except for one check totaling $1,830. The bank statement shows a balance of $7,760 on May 31. Required: Prepare a bank reconciliation to calculate the correct balance of cash on May 31. (Amounts to be deducted should be indicated with a minus sign.)

Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $6,988 Book balance: $8,923 Deposits in transit: $1,875 Outstanding checks: $569 and $1,423 Bank service charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $123 but posted in the accounting records as $213. This check was expensed to Utilities Expense. If an amount box does not require an entry, leave it blank.

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.

On April 30, the bank reconciliation of Metlock, Inc. shows three outstanding checks: no. 254, $630; no. 255, $870; and no. 257, $500. The May bank statement and the May cash payments are shown as follows. Date 5/4 5/2 5/17 5/12 5/20 5/29 5/30 Date 5/2 Bank Statement 5/5 5/10 5/15 5/22 5/24 5/29 Checks Paid Check No. 254 257 258 259 261 263 262 Cash Payments Checks Issued 258 259 260 261 262 263 264 Amount Check No. Amount $630 Check No. " 500 289. 215 590 460 770 $289 215 980 590 770 460 Using Step 2 in the reconciliation procedure, list the outstanding checks at May 31. 540 Total $ Amount

Franklin Company deposts all cash receipts on the day they are received and makes all cash payments by check. At the dove of business on August 31. as Cash account shows a debit balance of $13362 Franke's August tiank statement shows a $14.237 balance in the bank Determine the adjusted cash balance using the following information Deposit in transit Outstanding checks Bank service fees, not yet recorded by company The bank collected on a note receivable, not yet recorded by the company The adjusted cash balance should be O O O C $1873 $10.333 SHUBEY saja Help Seve&ait $4,500 $3,000 $50 $1,725

The cash account for Brentwood Bike Co. at May 1 indicated a balance of $12,830. During May, the total cash deposited was $64,190 and checks written totaled $59,600. The bank statement indicated a balance of $21,760 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: Checks outstanding totaled $9,690. A deposit of $7,900, representing receipts of May 31, had been made too late to appear on the bank statement. The bank had collected for Brentwood Bike Co. $4,170 on a note left for collection. The face of the note was $3,850. A check for $490 returned with the statement had been incorrectly charged by the bank as $940. A check for $970 returned with the statement had been recorded by Brentwood Bike Co. as $790. The check was for the payment of an obligation to Adkins Co. on account. Bank service charges for May amounted to $30. A check for $960 from Jennings Co. was returned by the bank…

The Cash account of Ranger Security Systems reported a balance of $2,550 at December 31, 2025. There were outstanding checks totaling $800 and a December 31 deposit in transit of $100. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,910. Included in the bank balance was a collection of $670 on account from Sally Jones, a Ranger Security Systems customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger Security System earned on its bank balance. Prepare Ranger Security System's bank reconciliation at December 31. Ranger Security Systems Bank Reconciliation Bank: Balance, December 31, 2025 ADD: Deposit in transit December 31, 2025 LESS: Outstanding checks Adjusted bank balance, December 31, 2025 Book: Balance, December 31, 2025 ADD: LESS: Service charge Adjusted book balance, December 31, 2025

Hathaway Company’s general ledger shows a cash account balance of $23,290 on July 31, 2024. Cash sales of $1,839 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $51 and an NSF check from a customer of $310. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,470. The bank statement shows a balance of $22,560 on July 31. Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash.

Oscar Myer receives the March bank statement for Jam Enterprises on April 11, 2018. The March 31 bank statement shows an ending cash balance of $67,566. A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following.   O. Myer notices that the bank erroneously cleared a $500 check against his account in March that he did not issue. The check documentation included with the bank statement shows that this check was actually issued by a company named Jam Systems. On March 25, the bank lists a $50 charge for the safety deposit box expense that Jam Enterprises agreed to rent from the bank beginning March 25. On March 26, the bank lists a $102 charge for printed checks that Jam Enterprises ordered from the bank. On March 31, the bank lists $33 interest earned on Jam Enterprises' checking account for the month of March. O. Myer notices that the check he issued for $128 on March 31, 2018, has not yet cleared the bank. O. Myer verifies that all deposits…

The beginning checkbook balance of Shamma Co. was $5,559.10. The bank statement showed a bank balance of $7,888.44. The bookkeeper of Shamma Co. noticed a $111.10 deposit in transit along with check numbers 90 and 97 for $499.88 and $1,256.45, respectively, as outstanding. The bank statement credited Shamma's account for $750.99 for a note collected. The bank statement revealed a check printing charge of $66.88. The reconciled balance is: