BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 200 4 #2 $ 10 $ 50 240 12 #4 100 NSF check $ 50 90 28 #5 20 70 30 #6 15 200 255 May 31 #8 55 Service charge 5 195 Cash (A) May 1 200 May 3 50 10 May 3 #2 70 May 4 #3 100 May 8 #4 20 May 11 #5 15 May 21 #6 May 29 200 25 May 29 #7 May 30 150 55 May 30 #8 May 31 305 How would i find the amount of outstanding deposits??

BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 200 4 #2 $ 10 $ 50 240 12 #4 100 NSF check $ 50 90 28 #5 20 70 30 #6 15 200 255 May 31 #8 55 Service charge 5 195 Cash (A) May 1 200 May 3 50 10 May 3 #2 70 May 4 #3 100 May 8 #4 20 May 11 #5 15 May 21 #6 May 29 200 25 May 29 #7 May 30 150 55 May 30 #8 May 31 305 How would i find the amount of outstanding deposits??

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 11MC

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Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 320 4 #2 $ 40 $ 80 360 12 #4 130 NSF check $ 80 150 28 #5 50 100 30 #6 45 320 375 May 31 #8 85 Service charge 35 255 Cash (A) May 1 320 May 3 80 40 May 3 #2 100 May 4 #3 130 May 8 #4 50 May 11 #5 45 May 21 #6 May 29 320 55 May 29 #7 May 30 210 85 May 30 #8 May 31 425
H7. What is ABC Company, Inc.'s cash balance as of March 31? Cash balance on depositor's books: $15,000 checks in circulation: $2,500 interest earned on account balance: $15 customer check returned for non-sufficient funds (“NSF”): $100 multiple choice a)$12,500 b)$14,885 c)$14,915 d)$17,385
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Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 340 May 4 #2 $ 45 $ 85 380 May 12 #4 135 NSF check $ 85 160 May 28 #5 55 105 May 30 #6 50 340 395 May 31 #8 90 Service charge 40 265 Cash (A) Debit Credit May 1 340 May 3 85 45 May 3 #2 105 May 4 #3 135 May 8 #4 55 May 11 #5 50 May 21 #6 May 29 340 60 May 29 #7 May 30 220 90 May 30 #8 May 31 445
M5-12 Preparing a Bank Reconciliation [LO 5-4] Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 260 4 #2 $ 25 $ 65 300 12 #4 115 NSF check $ 65 120 28 #5 35 85 30 #6 30 260 315 May 31 #8 70 Service charge 20 225 Cash (A) May 1 260 May 3 65 25 May 3 #2 85 May 4 #3 115 May 8 #4 35 May 11 #5 30 May 21 #6 May 29 260 40 May 29 #7 May 30 180 70 May 30 #8 May 31 365
M5-12 (Algo) Preparing a Bank Reconciliation [LO 5-4] Use the following bank statement and T-account to prepare the May 31 bank reconciliation. BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 380 May 4 #2 $ 55 $ 95 420 May 12 #4 145 NSF check $ 95 180 May 28 #5 65 115 May 30 #6 60 380 435 May 31 #8 100 Service charge 50 285 Cash (A) Debit Credit May 1 380 May 3 95 55 May 3 #2 115 May 4 #3 145 May 8 #4 65 May 11 #5 60 May 21 #6 May 29 380 70 May 29 #7 May 30 240 100 May 30 #8 May 31 485
Book balance 1,405,000 Add March 31 deposit 750,000 Collections of note 2,500,000 Interest on note 150,000 3,400,000 Total 4,805,000 Less: Raval Company’s deposit credited to Rizal account 1,100,000 Bank service charge 5,000 1,105,000 Adjusted book balance 3,700,000 Bank balance 5,630,000 Add: Error on check No. 175 45,000 Total 5,675,000 Less: Preauthorized payment for light and water 245,000 NSF check 220,000 Outstanding checks 1,650,000 2,115,000 Adjusted bank balance 3,560,000 Check No. 175 was made for the proper amount of 249,000 in payment of account. However, the check was entered in the cash disbursements journal as 294,000. Rizal Company authorized the bank to automatically pay its light and water bills as submitted directly to the bank. Required: a. Prepare a corrected bank reconciliation. b. Prepare adjusting entries on March 31.
The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, September 1 $ 1,800 September 7 NSF check $ 90 1,710 September 11 $ 2,700 4,410 September 12 #101 $ 700 3,710 September 17 #102 1,500 2,210 September 26 #103 2,200 10 September 29 EFT deposit 100 110 September 30 Service charge 10 100 Cash (A) Sep 1 Balance 1,800 Sep 10 2,700 700 Sep 10 #101 Sep 30 2,000 1,500 Sep 15 #102 2,200 Sep 22 #103 40 Sep 28 #104 Sep 30 Balance 2,060 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved…
The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, September 1 $ 1,800 September 7 NSF check $ 90 1,710 September 11 $ 2,700 4,410 September 12 #101 $ 700 3,710 September 17 #102 1,500 2,210 September 26 #103 2,200 10 September 29 EFT deposit 100 110 September 30 Service charge 10 100 Cash (A) Sep 1 Balance 1,800 Sep 10 2,700 700 Sep 10 #101 Sep 30 2,000 1,500 Sep 15 #102 2,200 Sep 22 #103 40 Sep 28 #104 Sep 30 Balance 2,060 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved…
The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance December 1 $ 57,600 December 6 $ 7,700 49,900 December 11 630 $ 28,000 77,270 December 17 17,900 59,370 December 23 37,000 96,370 December 26 630 95,740 December 30 24,800 19,000 NSF* $ 380 89,560 December 31 Interest earned 90 89,650 December 31 Service charge 230 89,420 * NSF check from J. Left, a customer. Cash (A) Debit Credit December 1 Balance 57,600 Deposits Checks written during December: December 11 28,000 7,700 December 23 37,000 630 December 30 19,000 17,900 December 31 14,000 630 230 24,800 5,700 December 31 Balance 98,010 There were no deposits in transit or outstanding checks at November 30. PA5-3 (Algo) Part 3 Prepare a bank reconciliation for December.
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Balance of cash in bank account 1,300,000Balance of bank statement 1,200,000Outstanding checks, August 31:Number 555 10,000761 55,000762 40,000763 25,000764 65,000765 70,000Receipts of August 31, deposited September 1 275,000The bank statement showed the following charges:a. Service charge for August 5,000b. NSF check received from a customer 85,000The cashier-bookkeeper had misappropriated 30,000 and an additional 10,000 by charging sales discounts and crediting accounts receivable.The stub for check number 765 and the invoice relating thereto show that it was for 50,000. The check was recorded incorrectly in the cash disbursements journal as 70,000. The check was drawn in payment of an account payable.Payment has been stopped on check number 555 which was drawn in payment of an account payable. The payee cannot be located.Required:a. Prepare a bank reconciliation on August 31 using the adjusted balance method.b. Prepare adjusting entries in the Susan Company book on August 31