Wiley Coyote started Acme, Inc on June 1, 2020. Acme's Chart of Accounts is below. Chart of Accounts Cash Accounts Receivable Supplies Prepaid Rent Office Equipment Accounts Payable Notes Payable Unearned Fees Common Stock Retained Earnings Dividends Fees Earned Salary Expense Rent Expense Supplies Expense Interest Expense Utility Expense During the month of June, Acme Inc. entered into the following transactions: 1 Transferred cash from a personal bank account in exchange for stock, $100,000 3 Recorded services provided on account, $9,100 5 Received cash from clients as an advance payment for services to be provided in July, $12,500 7 Purchased Office Equipment for $5,000, paying $500 cash and signing a Note for the remainder. 9 Receive cash for services provided: $5,000 10 Paid part-time receptionist for two weeks' salary $1,750 12 Purchased office supplies from Staples on account, $1,200 14 Billed clients for fees earned; $2,500 16 Paid $1,000 for 3 months rent for the months of July - September 18 Paid Staples, $600 24 Received cash from clients on account, $8,500. 26 Paid electricity bill for June, $810. 28 Paid $50 interest on the Note 30 Paid dividends, $7,500.

The accountant of Universe Manufacturing collected the following information: The balance as per bank statement is $2,560.32 on 30 June 2020. On this date, the balance of the company’s book is $3,730.32. In addition, the accountant found the following items: a) Deposits in transit    $1,460 b) Outstanding checks: $730 c) Bank statement shows a bank collection from bill receivables $1,000 d) Bank statement shows Interest received of $150 e) Bank service charge in the bank statement is $340 Required: prepare bank reconciliation statement at 30 June 2020.

A company's Cash account shows a balance of $3,420 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($60), an NSF check from a customer ($400), a customer's note receivable collected by the bank $(1,400), and interest earned $(170). Prepare the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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The cash account of Sheffield Co. showed a ledger balance of $7,088.13 on June 30, 2020. The bank statement as of that date showed a balance of $7,470. Upon comparing the statement with the cash records, the following facts were determined. 1. 2. 3. 4. 5. 6. 7. (a) There were bank service charges for June of $45. A bank memo stated that Bao Dai's note for $2,160 and interest of $64.80 had been collected on June 29, and the bank had made a charge of $9.90 on the collection. (No entry had been made on Sheffield's books when Bao Dai's note was sent to the bank for collection.) Receipts for June 30 for $6,102 were not deposited until July 2. Checks outstanding on June 30 totaled $3,844.89. The bank had charged the Sheffield Co.'s account for a customer's uncollectible check amounting to $455.76 on June 29. A customer's check for $162 (as payment on the customer's Accounts Receivable) had been entered as $108 in the cash receipts journal by Sheffield on June 15. Check no. 742 in the amount…

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Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Cash on hand Cash refund due from IRS 8,710 Cash to be reported $ 33,800 What amount should be reported as cash? Checking account balance Postdated checks Certificates of deposit (180-day) $22,500 850 94,980

Infinity Emporium Company received the monthly statement for its bank account, showing a balance of $67,300 on August 31. The balance in the Cash account in the company's accounting system at that date was $72,628. The company's accountant reviewed the statement and the company's accounting records and noted the following. 1. 2. 3. After comparing the cheques written by the company with those deducted from the bank account in August, the accountant determined that all six cheques (totalling $6,180) that had been outstanding at the end of July were processed by the bank in August. However, five cheques written in August, totalling $4,500, were outstanding on August 31. A review of the deposits showed that a deposit made by the company on July 31 for $11,532 was recorded by the bank on August 1, and an August 31 deposit of $13,300 was recorded in the company's accounting system but had not yet been recorded by the bank. The August bank statement also showed: a service fee of $24 a…

The cash records and bank statement for the month of July for Eagle Incorporated are shown below.  Description DEP Customer deposit INT Interest earned SF Service feesNOTE Note collected CHK Customer check NSF Nonsufficient fundsEFT Electronic funds transfer DC Debit card Additional information: The difference in the beginning balances in the company’s records and the bank statement relates to check number 530, which is outstanding as of June 30, 2024. The debit card transaction for the purchase of equipment on 7/19 is correctly processed by the bank. The EFT on July 26 in the bank statement relates to the purchase of office supplies.

Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash.