A check for the amount of (100,000) was bought by Al-Amriya branch vithout reservation by phone, but after the check arrived at the Mosul branch, it was found that it could not be collected, so the check was returned to the Al-Amriya branch, so the Mosul branch did not register.
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- On June 15, we Received notice from the bank that the $5,000 check received from customer Arlene Burnet (10300) on June 14 has not cleared due tolack of funds. The $,5000 balance of this NSF check plus anadditional $80 handling fee will be charged back to Ms. Burnet'saccount (sales invoice number G4016). The $80 handling feecharged by Granite Bay Jet Ski will be entered as MiscellaneousRevenue. At the check number prompt enter BADCK for badcheck. Please enter the following journal entries for the above.Braun issued a $35 check to Rice. Rice took the check to Braun’s bank and had it certified. Rice then raised the amount to $350 and negotiated it to Turner. Turner presented the check for payment and received $350. When Braun received her canceled checks, she noticed the alteration and notified the bank. Who will suffer the loss?Samba Corporation operates in an industry with high collectability issues. Recently, one of Samba's customers wrote a check for $235 for services performed. Samba's bank later informed Samba that its customer did not have cash available in his account to cover the $235 charge. As a result, Samba's bank assesses a $30 fee as the result of the NSF check received. Samba has not yet adjusted its books for the bank fee or the NSF check. Required: Record the appropriate journal entry to update Samba's books. If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9
- On November 1, 2022, Broom Company received a bank statement that showed a $2,950 balance. Broom showed a $4,010 checking account balance. The bank did not return check number 124 for $1,080 and check number 138 for $720. A $3,200 deposit made on October 30 was in transit. The bank charged Broom $12 for check printing and $18 for an NSF check. Broom forgot to record a $30 withdrawal at the ATM. The bank also collected a $400 note for Broom. Prepare bank reconciliation.Samba Corporation operates in an industry with a high collectability issues. Recently, one of Samba's customers wrote a check for $235 for services performed. Samba's bank later informed Samba that its customer did not have cash available in his account to cover the $235 charge. As a result, Samba's bank assesses a $30 fee as the result of the NSF check received. Samba has not yet adjusted its books for the bank fee or the NSF check. Required: Hide Record the appropriate journal entry to update Samba's books. For a compound transaction, if an amount box does not require an entry, leave it blank.On April 1, 2021, Adobo Co. established a petty cash fund for P80,000 by writing a check drawn against general checking account. On April 30, the funds contained the following:Currency and coins- P24,000Receipts for office supplies- P32,000Receipts for postage still unused- P16,000 Receipts for transportation- P4,800On April 30, the company write a check to replenish the fund.What is the amount of replenishment under the imprest fund system?
- BAT LLC had an opening balance of RO 400 in the petty cash fund. During the month the receipts were RO 125 petrol, RO 55 office stationery, RO135 staff welfare and RO 65 travelling and there was RO 15 left in the petty cash box. If the petty cash fund is raised to RO 500 per month then how much is the amount required to be refill? a. RO 485 b. RO 385 c. RO 380 d. RO 480Math Corp's checkbook balance on Dec 31 was P27,200. In addition ABC held the following items in its safe: 1. A check for P450 from a customer received on Dec 30 and not yet recorded in the books 2. An NSF check from another customer, P700 was returned by the bank on Dec29. The check was redeposited the following month. 3. Coins and currencies, P1,450 The proper amount to be reported on ABC 's balance sheet for cash at Dec 31 is? 26,950 27,500 27,950 28,400In June 30, 2023, ABC Company has the following information (Amounts in Saudi Riyal) Bank statement indicated a balance of 100,000 The cash general ledger account on that date shows a balance of 120,000 The ABC’s accountant provided Additional information necessary for preparing the ABC’s reconciliation statement: • A 10,000 check sent to the bank for deposit but has not yet reached the bank at the statement date. • The bank returned a customer’s NSF check for 26,000 received as payment on account receivable. • A 500 deposit by Z Company was erroneously credited to ABC account by the bank. • The bank statement showed 500 interest earned during June. • Outstanding checks totalled 15,000. Required: a. Prepare a June 30 bank reconciliation statement for ABC Company. b. Prepare adjusting entries Please dont give imaged with solutions thnaks
- The Marnie Department produced the following data for Amy Company as of December 31, 2021: Checkbook balance P 475,000Collectibles balance 500,000Cash in sinking fund 500,000Petty cash fund balance 5,000There was also a check drawn on Amy's account, payable to supplier amounting to P10,000, dated and recorded on December 31, 2014, but was mailed only on January 15, 2022. On December 31, 2021, how much should be reported as "cash and cash equivalents"? A. 990,000 B. 490,000 C. 980,000 D. 480,000The smallest branch of Super Fresh Cosmetics in Iloilo City employs Mary Santos, the branch manager, and her sales assistant, Jane Reyes. The branch uses as bank account in Iloilo City to pay expenses. The account is kept in the name of "Super Fresh Cosmetics Special Account". To pay expenses, checks must be signed by Mary Santos or by the treasurer of Super Fresh Cosmetics, Juan Dy. Mary receives the cancelled checks and bank statements. She reconciles the branch account herself and files cancelled checks and bank statements in her records. She also periodically prepares reports of cash disbursements and sends them to the home office. a. What are the control weaknesses you noted? b. Give internal control activities to prevent/detect/correct the said weaknesses.The smallest branch of Super Fresh Cosmetics in Iloilo City employs Mary Santos, the branch manager, and her sales assistant, Jane Reyes. The branch uses as bank account in Iloilo City to pay expenses. The account is kept in the name of "Super Fresh Cosmetics Special Account". To pay expenses, checks must be signed by Mary Santos or by the treasurer of Super Fresh Cosmetics, Juan Dy. Mary receives the cancelled checks and bank statements. She reconciles the branch account herself and files cancelled checks and bank statements in her records. She also periodically prepares reports of cash disbursements and sends them to the home office. What are the control weaknesses you noted? Give internal control activities to prevent/detect/correct the said weaknesses.