Mazaya Company assembled the following information in completing its April bank reconciliation: balance per bank R.O.21,460; outstanding checks R.O.12,325; deposits in transit R.O.13,750; NSF check R.O.2,240; bank service charge R.O.85; a credit memo from bank was R.O.85; cash balance per books R.O.25,210. As a result of this reconciliation, Mazaya will

Mazaya Company assembled the following information in completing its April bank reconciliation: balance per bank R.O.21,460; outstanding checks R.O.12,325; deposits in transit R.O.13,750; NSF check R.O.2,240; bank service charge R.O.85; a credit memo from bank was R.O.85; cash balance per books R.O.25,210. As a result of this reconciliation, Mazaya will

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...

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Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book balance: $13,744. Deposits in transit: $2,509. Outstanding checks: $1,777. Bank charges: $125. Bank incorrectly charged the account for $412. The bank will correct the error next month. Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.
The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
The bank reconciliation shows the following adjustments. Deposits in transit: $1,698 Notes receivable collected by bank: $2,500; interest: $145 Outstanding checks: $987 Error by bank: $436 Bank charges: $70 Prepare the correcting journal entry.