T. Howard's Cash Book at 2020 September 30 showed debit balance at the bank of $1 024 but the Bank Statement at same date had a credit balance of $262.After comparing the Cash Book with the Bank Statement, the following differences were noted: i. An amount of $142 paid into the bank had not yet appeared on the Statement.ii. Bank interest of $60 in respect of an earlier overdraft had been charged by the bank. iii. Cheques issued for $560 had not been presented for payment.iv. A cheque received for $800 and debited in the Cash Book was returned unpaid by the bank because of lack of funds. v. Funds of $1 120 paid into the bank had been entered in the Cash Book as $1 000.vi. The bank had made a standing order payment for insurance of $480 which had not been recorded in the Cash Book.vii. The bank had received by direct credit transfer a payment of $40 due to Howard from G. Keith. Prepare the following:A. Updated Cash Book of T. Howard.B. Bank Reconciliation Statement as at 2021 September 30.

In comparing the processed checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $970 but was erroneously entered in the accounting records as $790. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? a) $970 increase to Cash and a $790 decrease to Utility Expense.   b) $180 increase to Cash and a $180 increase to Utility Expense.   c) $180 decrease to Cash and a $180 increase to Utility Expense.   d) $180 decrease to Cash and a $180 decrease to Utility Expense.   e) $180 increase to Cash and a $120 decrease to Utility Expense.

The following information was used in reconciling the bank account for Oscar Company on October 31: Balance per bank, October 31 Insufficient funds check Outstanding checks Utility bill paid by bank Check printing charge Deposits in transit Balance per books, October 31 Calculate the Adjusted Book Balance on October 31. A) $18,040 B) $18,640 $18,320 700 900 620 40 1,220 20,000 OC) $18,840 OD) $16,720

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The cash account of the Malpractice Medical Company at May 31, 2019 is $35,670. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank statement, the cancelled checks and the accompanying memos with the records revealed the following reconciling items: Checks outstanding totaled $6,440 A deposit of $1,850 representing receipts of May 31, had been made too late to appear on the bank statement. The bank collected for Malpractice Medical $5,250 on a note left for collection. The face amount of the note was $5,000 A check for $390 returned with the statement had been incorrectly charged by the bank as $930 A check for #210 returned with the bank statement had been incorrectly recorded by Malpractice Medical as $120. The check was for the payment of an obligation to XYZ Company on account Bank service charges for May amounted to $30 A check for $1,325 from DEF Company was returned by the bank due to insufficient funds Required: Prepare a bank reconciliation as of…

The cash account for Santiago Co. on May 31, 2021 indicated a balance of $15,515.00. The March bank statement indicated an ending balance of $20,245.00. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:   a. Checks outstanding totaled $4,820.00 b. A deposit of $3,796.00 had been made too late to appear on the bank statement. c. A check for $1,233.00 returned with the statement had been incorrectly recorded as $233.00.  The check was originally for a vendor payment on account. d. The bank collected $5,541.00 on a note left for collection. e. Bank service charges for May amounted to $45.00. f. A check for $790.00 was returned by the bank because of insufficient funds. Prepare a bank reconciliation as of May 31, 2021.  Journalize the necessary entries.

1) Prepare a bank reconciliation dated December 31, 2020, for Welcome Inc. based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2,150.00 were not returned with the bank statement. The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an NSF cheque written by Bill Broke to Welcome Inc. on December 11, 2020, for $169. A bank credit memo indicated a bank collection of $1,700 and interest revenue of $28 on December 15, 2020.

When the bank statement is received on July 3, it shows a balance, before reconciliation, of $6,120 as of June 30. After reconciliation, the adjusted balance is $3,650. If one deposit in transit amounted to $1,470, what was the total of the outstanding checks assuming that no other adjustments would be made to the bank statement?

Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the statement balance to the June 30, 2019, balance in the Cash account. The reconciled balance was determined to be $6,428. The reconciliation recognized the following items: 1. Deposits in transit were $3,335. 2. Outstanding checks totaled $2,612. 3. Bank service charges shown as a deduction on the bank statement were $80. 4. An NSF check from a customer for $671 was included with the bank statement. Beckett Co. had not been previously notified that the check had been returned NSF. 5. Included in the canceled checks was a check written for $770. However, it had been recorded as a disbursement of $940. Required: Prepare the Bank reconciliation statement for the month ending June 30, 2019. BECKETT COMPANY Bank Reconciliation June 30, 2019 Balance per bank Balance per books Add: Add: Deduct: Deduct: Reconciled balance $ O Reconciled balance

Ace Inc. made a recording error. The check written to a supplier for $650 was incorrectly recorded in the ledger as $560. During a bank reconciliation process, $90 should be 1. Added to the bank statement balance 2. Added to the depositor's balance 3. Subtracted to the bank statement balance 4. Subtracted to the depositor's balance 5. Both 1 and 2 6. Both 3 & 4 7. No adjustment is requirement *Enter the item number for your answer 1