The cash account for Brentwood Bike Co. at May 1 indicated a balance of $33,857. During May, the total cash deposited was $139,616, and checks written totaled $138,547. The bank statement indicated a balance of $43,270 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: A. Checks outstanding totaled $6,340. B. A deposit of $1,858 representing receipts of May 31, had been made too late to appear on the bank statement. C. The bank had collected for Brentwood Bike Co. $5,565 on a note left for collection. The face of the note was $5,300. D. A check for $590 returned with the statement had been incorrectly charged by the bank as $950. E. A check for $210 returned with the statement had been recorded by Brentwood Bike Co. as $120. The check was for the payment of an obligation to Adkins Co. on account. F. Bank service charges for May amounted to $36. G. A check for $1,217 from Jennings Co. was returned by the bank due to insufficient funds. Instructions 1. Prepare a bank reconciliation as of May 31. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Deduct:" or "Add:" will automatically appear if it is required. 2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles. 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash?

The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31 $14,720. Cash balance according to the bank statement at July 31, $15,730. Checks outstanding, $2,990. Deposit in transit, not recorded by bank, $2,400. A check for $270 in payment of an account was erroneously recorded in the check register as $720. Bank debit memo for service charges, $30. a.  Prepare a bank reconciliation, using the format shown in

The cash account for American Medical Co. at April 30 indicated a balance of $14,350. The bank statement indicated a balance of $16,340 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: Checks outstanding totaled $5,880. A deposit of $6,130, representing receipts of April 30, had been made too late to appear on the bank statement. The bank collected $3,190 on a $3,020 note, including interest of $170. A check for $880 returned with the statement had been incorrectly recorded by American Medical Co. as $800. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account. A check drawn for $90 had been erroneously charged by the bank as $900. Bank service charges for April amounted to $60. Required: 1.  Prepare a bank reconciliation.

The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company’s records at July 31, $49,910. 2. Cash balance according to the bank statement at July 31, $48,250. 3. Checks outstanding, $4,460. 4. Deposit in transit, not recorded by bank, $6,450. 5. A check for $590 issued in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $30.   Required:   Journalize the entry or entries that should be made by the company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. CHART OF ACCOUNTSNakajima Co.General Ledger   ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes…

Using the following information:  The bank statement balance is $3,093. The cash account balance is $3,305. Outstanding checks amounted to $767. Deposits in transit are $815. The bank service charge is $155. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 31 Cash balance according to bank statement   $fill in the blank 1 Adjustments:       $- Select -     - Select -   Total adjustments   fill in the blank 6 Adjusted balance   $fill in the blank 7 Cash balance according to company's records   $fill in the blank 8 Adjustments:       $- Select -     - Select -   Total adjustments   fill in the blank 13 Adjusted balance   $fill in the blank 14

Peterson Company's general ledger shows a cash balance of $7,720 on May 31. May cash receipts of $1,340, 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 for $190 and a service fee of $60. The bank processes all checks written by the company by May 31 and lists them on the bank statement, except for one check totaling $1,710. The bank statement shows a balance of $7,840 on May 31. Prepare a bank reconciliation to calculate the correct ending balance of cash on May 31. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Before reconciliation After reconciliation PETERSON COMPANY Bank Reconciliation May 31 SA Company's Cash Balance Before reconciliation 0 After reconciliation SA 0

Instructions The cash account for Brentwood Bike Co. at May 1 indicated a balance of $32,991. During May, the total cash deposited was $139,960, and checks written totaled $137,747. The bank statement indicated a balance of $43,370 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,476. b. A deposit of $1,779 representing receipts of May 31 had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $5,250 on a note left for collection. The face of the note was $5,000. d. A check for $580 returned with the statement had been incorrectly charged by the bank as $850. e. A check for $210 returned with the statement had been recorded by Brentwood Bike Co. as $120. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $28. g. A check for $1,393 from…

Brangelina Adoption Agency's general ledger shows a cash balance of $4,586. The balance of cash in the March-end bank statement is $7,331. A review of the bank statement reveals the following information: checks outstanding of $2,796, bank service fees of $78, and interest earned of $27.  Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.)

The book balance in the checking account of Kyri Enterprises as of November 30 is $2,964. The bank statement shows an ending balance of $2,525. The following information is discovered by (1) comparing last month’s deposits in transit and outstanding checks with this month’s bank statement, (2) comparing deposits and checks written per books and per bank in the current month, and (3) noting service charges and other debit and credit memos shown on the bank statement. Deposits in transit: 11/29 $125   11/30 200 Outstanding checks: No. 322 17   No. 324 105   No. 327 54 Unrecorded ATM withdrawal:*   100 Bank service charge:   25 NSF check:   185   Error on Check No. 321 Checkbook shows it was for $64, but it was actually written for $44. Accounts Payable was debited.   *Funds were withdrawn by Susan Kyri for personal use.     Kyri Enterprises Bank Reconciliation November 30, 20-- 1 Bank statement balance, November 30     2…

cash account for Norwegian Medical Co. at April 30 indicated a balance of $403,784. The bank statement indicated a balance of $468,460 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $73,870. b. A deposit of $51,230, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $50,630 on a $48,220 note, including interest of $2,410. d. A check for $9,160 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $916. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $680 had been erroneously charged by the bank as $860. f. Bank service charges for April amounted to $170.     Required: 1. Prepare a bank reconciliation. Be sure to complete the statement heading. Refer to the Labels and…