PREPARE BRS?Bank Balance = $4,487Book Balance = S$5,899Interest income = $35Deposit in transit = $1,590NSF check = $586%3DOutstanding checks = $729

Name: PREPARE BRS?Bank Balance = $4,487Book Balance = S$5,899Interest incom
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: PREPARE BRS?Bank Balance = $4,487Book Balance = S$5,899Interest income = $35Deposit in transit = $1,590NSF check = $586%3DOutstanding checks = $729

Introduction: Bank reconciliation statement: To Reconcile between the cash and pass book balances…

Answered: PREPARE BRS? Bank Balance = $4,487 Book…

Business

Accounting

PREPARE BRS? Bank Balance = $4,487 Book Balance = S$5,899 Interest income = $35 %3D Deposit in transit = $1,590

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EB: Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance:...

See similar textbooks

Similar questions

Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance: $10,595 Deposits in transit: $2,588 Outstanding checks: $489 Interest income: $121 NSF check: $966
Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35
The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding checks: $558 Bank service charges: $50 NSF checks: $250 Prepare the correcting journal entry.
Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance: $6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Prepare the correcting journal entry.
The following data pertains to Hermes Company on December 31: Bank statement balance P5,000,000Checkbook balance 5,600,000Deposit in transit 2,000,000Outstanding checks, including a check for P100,000 dated December 31 but undelivered to payee 500,000 Question:In Hermes' December 31 statement of financial position, cash should be reported ata. P6,500,000.b. P6,600,000.c. P7,012,000.d. P7,200,000.
A company shows an ending balance of $790. The bank statement shows a $14 service charge and an NSF check for $150. A $280 deposit is in transit, and outstanding checks total $310. What is their adjusted cash balance?
Lovable Company prepared the following bank reconciliationon June 30:Balance per bank statement, June 30Deposit in transit3.000,000400.000TotalOutstanding checks3 100,000(900,000)Balance per book, June 302.500.000The bank statement for the month of July showed thefollowingDeposits (including P200,000 note collected for Lovable) 9,000,000Disbursements (including P140,000 NSF check andP10,000 service charge)7.000.000All reconciling items on June 30 cleared through the bank inJuly. The outstanding checks totaled P600,000 and the depositin transit amounted to P1,000,000 on July 31.What is the cash balance per book on July 31?abCd5,400,0005.350.0005.550.0004.500,0002.What is the amount of cash receipts per book in July?a.9 100.000b.9.600.000C8.600.000d9.800.0003. What is the amount of cash disbursements per bookin July?aCd6,550,0006,700,0007.300.000
Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara’s adjusted cash balance? a. $291 b. $829 c. $471 d. $470
The bank statement of ABC Corp disclosed a cash balance of P687,000 at Dec 31. Additional information showed the following:a. An NSF check for Dec was for P4,000.b. Bank credit memo for Dec was P3,500c. Deposit in transit, P5,000d. Outstanding checks, P3,400e. Undeposited collections P10,000Adjusting entry at Dec 31 should include: dr Cash in bank 5,000 dr Cash in bank 500 cr Cash in bank 3,400 cr Cash in bank 500
Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara’s adjusted cash balance? $291 $829 $471 $470
The following information is available for Lemonaid Co. for June 30, 2020: The bank statement balance is $6,000The general ledger cash account balance is $4,715Outstanding checks totaled $1,000Deposits in transit are $500The bank service charge is $15Collection of a note by bank, $850 plus $50 in interest income.Error by bank in processing a check – overcharge to Acct 201’s account of $100, to be corrected July 2, 2020 Required: 1. Based on the previous information, prepare a bank reconciliation for Acct 201 Co. at June 30, 2019. 2. Based on the previous reconciliation, prepare any necessary adjusting journal entries. 3. List one example of internal controls over cash