Question-Given the followinginformation, what amount would berecorded for cash on the balance sheet?Balance per bank $ 98,500Balance per books $103,150Auto pay on a loan $9,400Bank fees $350NSF check $1,200Outstanding checks $14,200Outstanding deposits $8,100Recorded a deposit for $1,000 that was really $1,200 (bank recorded itcorrectly)

Step 1: Define Bank Reconciliation:Bank Reconciliation is used to bring the cash balance in the book…

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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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5. The AA Company’s cash in bank for the year ended December 31, 2022, following information are available: November 30 December 31 Cash per books P530,500 ? Cash per bank statements 510,000 520,500 Deposits in transit 260,100 ? Outstanding checks 162,600 220,400 Bank service charges 2,500 2,700 Insufficient fund check 10,500 12,000 Company's notes receivable collected by bank 130,000 125,000 The bank statement and the company’s cash records show the following totals: Checks and debit memos per bank statement P470,500 Cash receipts per cash record 490,500 Cash disbursements per cash records 450,000 Deposits and credit memos per bank statement 481,000 Additional information: A P40,000 book debit error in November was corrected in December. A P25,000 withdrawal of AB Corporation…
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If balance in the bank statement shows $3000 Dr and there are deposits of $800 not yet credited and unpresented cheques totalling to $500, the balance in the cashbook should be Question 2 options: 2700 3300 1700 4300
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A deposit of $25,000 made by Federal Trading appeared on the bank statement of Fidel Trading. hello, i am working on a Cash Book and did this as the entry for the statement above. would that be correct? if so can you explain how? cashbook DATE ACCOUNT TITLE DEBIT DATE ACCOUNT TITLE CREDIT 30-November-10 Accounts receivable $25000
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please make it book balance of cash and bank balance of cash clearly
Required information [The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available: 1. Deposit in transit: $2,400. 2. Credit memo in bank statement for interest earned in June: $30. 3. Outstanding check: $6,690. 4. Debit memo for service charge: $20. b. Record in general journal format the adjusting entries necessary to correct the unadjusted book balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Checkbook balance:$1,792.50 Bank statement balance: $972.00 Checks outstanding (checks written which have not yet been cashed): Check No. 455 $50.00 Check No. 477 $88.00 Check No. 479$125.00 Deposits outstanding (deposits made but not yet recorded by the bank): 3/3$550.00 3/4$525.50 Bank service charge:$12.00 Interest earned on your account:$4.00 You have recorded all deposits in your checkbook. RECONCILIATION FORM Balance from bank statement $ Balance from checkbook $ Add outstanding deposits $ $ Add deposits not recorded $ Total outstanding deposits $ Total deposits not recorded $ Subtotal $ Subtotal $ Deduct outstanding checks $ $ $ Deduct bank fees $ Total outstanding checks $ Balance less fees $ Add interest earned $ Adjusted bank balance $ Adjusted checkbook balance $
Adjusted cash balance?
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