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For questions 1 to 6, the following information is made available to you: Jan-22 Feb-22 Outstanding checks, end of the month 66,000 43,000 Deposits in transit, end of the month 55,500 44,700 Bank credit memo for note collected 123,500 97,800 Bank service charges 3,250 3,650 DAIF check returned by bank (recorded by the depositor in the month following the month when checks were returned) 25,000 19,000 Cash per general ledger, end of the month - 93,250 81,800 Cash per bank statement, end of the month 12,500 155,250 Total receipts per books 837,000 805,350 Total charges by bank 598,000 647,700

For questions 1 to 6, the following information is made available to you: Jan-22 Feb-22 Outstanding checks, end of the month 66,000 43,000 Deposits in transit, end of the month 55,500 44,700 Bank credit memo for note collected 123,500 97,800 Bank service charges 3,250 3,650 DAIF check returned by bank (recorded by the depositor in the month following the month when checks were returned) 25,000 19,000 Cash per general ledger, end of the month - 93,250 81,800 Cash per bank statement, end of the month 12,500 155,250 Total receipts per books 837,000 805,350 Total charges by bank 598,000 647,700

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EA: Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance:...
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1. What is the adjusted cash balance as of February 28, 2022?

A. 156,950
B. 157,950
C. 82,800
D. None of the options
 
2. What is the adjusted cash amount of cash receipts during February?

A. 779,650

B. 780,650

C. 761,650

D. 760,650

3. What is the adjusted amount of disbursements per bank during February?

A.624,700

B. 625,700

C. 606,700

D. 605,700

4. What is the adjusted cash balance as of January 31, 2022?

A. 2,000

B. 3,000

C. 13,500

D. None of the options

5. What is the unadjusted amount of cash receipts per bank during February

A. 790,450

B. 768,850

C. 779,650

D. None of the options

6. What is the unadjusted amount of cash disbursements per book during February?

A. 630,300

B. 647,700

C. 624,700

D. None of the options

For questions 1 to 6, the following information is made available to you: Jan-22 Feb-22 Outstanding checks, end of the month 66,000 43,000 Deposits in transit, end of the month 55,500 44,700 Bank credit memo for note collected 123,500 97,800 Bank service charges 3,250 3,650 DAIF check returned by bank (recorded by the depositor in the month following the month when checks were returned) 25,000 19,000 Cash per general ledger, end of the month 93,250 81,800 Cash per bank statement, end of the month 12,500 155,250 Total receipts per books 837,000 805,350 Total charges by bank 598,000 647,700
Transcribed Image Text:For questions 1 to 6, the following information is made available to you: Jan-22 Feb-22 Outstanding checks, end of the month 66,000 43,000 Deposits in transit, end of the month 55,500 44,700 Bank credit memo for note collected 123,500 97,800 Bank service charges 3,250 3,650 DAIF check returned by bank (recorded by the depositor in the month following the month when checks were returned) 25,000 19,000 Cash per general ledger, end of the month 93,250 81,800 Cash per bank statement, end of the month 12,500 155,250 Total receipts per books 837,000 805,350 Total charges by bank 598,000 647,700
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