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On December 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $ 23,266 .1 The company's bank statement shows a balance on December 31 of $24,529 .2 Outstanding checks at December 31 total $5,370.3 The bank collected $3,190 on a note receivable that is not yet recorded by Muharraq Company .4 A $452 NSF check from a customer, J. Ahmed is shown on the bank statenment but not yet recorded by the company .5 A deposit placed in the bank's night depository on December 31 totaling $6.615 did not appear on the bank statement .6 Comparing the checks on the bank statement with the entries in the accounting records reveals that check #845 for the payment of an account payable was correctly .7 written for $2,560 but was erroneously recorded in the accounting records as $2,710 Included in the bank statement was a bank service charge in the amount of S380. It has not been recorded on the company's books .8 :Required .a. Calculate the adjusted bank balance .b. Calculate the adjusted book balance (PLEASE SHOW ALL OF YOUR CALCULATIONS) (Mac Ju l ha ALT+ ENAE10

On December 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $ 23,266 .1 The company's bank statement shows a balance on December 31 of $24,529 .2 Outstanding checks at December 31 total $5,370.3 The bank collected $3,190 on a note receivable that is not yet recorded by Muharraq Company .4 A $452 NSF check from a customer, J. Ahmed is shown on the bank statenment but not yet recorded by the company .5 A deposit placed in the bank's night depository on December 31 totaling $6.615 did not appear on the bank statement .6 Comparing the checks on the bank statement with the entries in the accounting records reveals that check #845 for the payment of an account payable was correctly .7 written for $2,560 but was erroneously recorded in the accounting records as $2,710 Included in the bank statement was a bank service charge in the amount of S380. It has not been recorded on the company's books .8 :Required .a. Calculate the adjusted bank balance .b. Calculate the adjusted book balance (PLEASE SHOW ALL OF YOUR CALCULATIONS) (Mac Ju l ha ALT+ ENAE10

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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The following information is available for the Muharraq Company for the month of December On December 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $ 23,266 .1 The company's bank statement shows a balance on December 31 of $24,529 .2 Outstanding checks at December 31 total S5,370 .3 The bank collected $3,190 on a note receivable that is not yet recorded by Muharraq Company 4 A $452 NSF check from a customer, J. Ahmed is shown on the bank statenment but not yet recorded by the company .5 A deposit placed in the bank's night depository on December 31 totaling $6,615 did not appear on the bank statement .6 Comparing the checks on the bank statement with the entries in the accounting records reveals that check #845 for the payment of an account payable was correctly .7 .written for $2,560 but was erroneously recorded in the accounting records as $2,710 Included in the bank statement was a bank service charge in the amount of $380. It has not been recorded on the company's books .8 :Required .a. Calculate the adjusted bank balance .b. Calculate the adjusted book balance (PLEASE SHOW ALL OF YOUR CALCULATIONS) (Mac Ju l lhi) ALT+EN+F10.J.o |L Cn A
Transcribed Image Text:The following information is available for the Muharraq Company for the month of December On December 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $ 23,266 .1 The company's bank statement shows a balance on December 31 of $24,529 .2 Outstanding checks at December 31 total S5,370 .3 The bank collected $3,190 on a note receivable that is not yet recorded by Muharraq Company 4 A $452 NSF check from a customer, J. Ahmed is shown on the bank statenment but not yet recorded by the company .5 A deposit placed in the bank's night depository on December 31 totaling $6,615 did not appear on the bank statement .6 Comparing the checks on the bank statement with the entries in the accounting records reveals that check #845 for the payment of an account payable was correctly .7 .written for $2,560 but was erroneously recorded in the accounting records as $2,710 Included in the bank statement was a bank service charge in the amount of $380. It has not been recorded on the company's books .8 :Required .a. Calculate the adjusted bank balance .b. Calculate the adjusted book balance (PLEASE SHOW ALL OF YOUR CALCULATIONS) (Mac Ju l lhi) ALT+EN+F10.J.o |L Cn A
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