You gather the following information before doing the month end account reconciliation. Cash per books, month end $5,640 Deposits in transit 425 Electronic collection of accounts receivable 1,340 Interest expense 156 Outstanding cheques 1,200 NSF cheques 450 Calculate the adjusted cash balance per books (dollars, no comma or dollar signs, e.g. 3520

Q: At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on…

A:

Q: Selected transactions completed by Kornett Company during its first fiscal year ended Dec. 31, 20Y8,…

A:

Q: Apr. 15. Received $800 from Jean Tooley and wrote off the remainder owed of $1,200 as uncollectible.…

A: Under direct write off method, bad debts expense is debited and accounts receivables is immediately…

Q: At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on…

A: Journal entry: The record of business transactions in a chronological order in the journal is…

Q: AI March 31, Cummins Company had a balance in its cash account of $10.500. At the end of March, the…

A: Given:Balance in Cash account = $10,500   Adjustments:   Explanation Difference Remark…

Q: The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: Record amounts that increase cash   Record Amounts that decrease cash

A: Amounts that are are directly credit to the bank account will increase cash. Amounts that are…

Q: Choose the letter of the correct answer: Sassy Company provided the following data for the month of…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the…

A: A journal entry appears to be a method of tracking all of a company's individual financial…

Q: At November 17, Icon Company has this bank information: cash balance per bank $6,950; outstanding…

A: Adjusted cash balance per bank means where the bank balance has been adjusted with outstanding…

Q: Tharsis Company provided the following information at the current year-end: P 30,000 5,000 150,000…

A: Cash & Cash Equivalents: The line item on the balance sheet that reflects the value of a…

Q: Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29…

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

Q: Choose the letter of the correct answer: Sassy Company provided the following data for the month of…

A: A bank reconciliation statement is a statement that summarizes the banking and entity's business…

Q: A company's Cash account shows a balance of $3,410 at the end of the month. Comparing the company's…

A: Bank reconciliation statement is used to determine the differences between the bank statement…

Q: A company shows an ending balance of $790. The bank statement shows a $14 service charge and an NSF…

A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book…

Q: At April 30, Mazaya Company Has the following bank information: cash balance per book $7200;…

A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…

Q: All reconciliation items at March 31 cleared through the bank in April. Outstanding checks at April…

A: Given information is: Outstanding checks at March 31 = $25,200 Outstanding checks at Apr 30 =…

Q: Lor's Company has the following items: cash in a checking account, $4,000; cash in a savings…

A: Answer - Cash and Cash Equivalent = Cash in a checking​ account + Cash in a savings​ account + High-…

Q: The December cash records of Kirk’s Hardware follow: Cash Receipts   Cash Payments Date Cash…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book…

Q: rangelina Adoption Agency's general ledger shows a cash balance of $4,582. The balance of cash in…

A: Checks that have been drawn by the company but have not been deducted from the bank balance are…

Q: Selected transactions completed by Kornett Company during its first fiscal year ended December 31,…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The following information is available for​ Ellen's Fashions, Inc. for the current month.   Book…

A: Bank reconciliation statement is used to determine the differences between the bank statement…

Q: The following information is available for​ Ellen's Fashions, Inc. for the current month.   Book…

A:

Q: At November 30, Mazaya Company has the following bank information: cash balance per book R 04,600;…

A: Particulars Amount Cash balance per books RO 4,600 Add: interest RO 10 Less: Bank charges RO…

Q: Brangelina Adoption Agency’s general ledger shows a cash balance of $4,593. The balance of cash in…

A: Given: Brangelina Adoption Agency’s general ledger shows cash balance of $4,593. The balance of cash…

Q: The cash register tape for Larkspur Industries reported sales of $7,146.30. Record the journal entry…

A: a. Cash = Sales revenue - Cash short  = 7146.30 - 52.78 = 7093.52 b. Cash = Sales revenue + Cash…

Q: Sassy Company provided the following data for the month of July: Cash in bank: *Balance June 30 -…

A: Introduction: Bank Reconciliation statement: To reconcile the difference between Bank book and cash…

Q: Prepare the bank reconciliation on June 30 and July 31, and adjusting journal entries on July 31 *…

A: July 31 Cash Book balance: 1,000,000 + 4,000,000 - 3,600,000 = 1,400,000 July 31, Bank statement…

Q: Given the following information, determine the adjusted cash balance per books. a. Balance per books…

A:

Q: Choose the letter of the correct answer: Sassy Company provided the following data for the month of…

A: The bank reconciliation statement is prepared to equate the cash book and passbook balance with…

Q: Using the following information:  The bank statement balance is $3,093. The cash account balance is…

A: Bank reconciliation statement record book which reconcile  the balance as per bank books with cash…

Q: Your review of NIC Corporation financial statements revealed the following information: Reconciled…

A: Notes: Bank bill of exchange: once the bank incorporates a right to offset the bill of exchange…

Q: rangelina Adoption Agency's general ledger shows a cash balance of $4,586. The balance of cash in…

A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Q: Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following…

A: Bank reconciliation statement is used to determine the differences between the bank statement…

Q: At August 31, Sheridan Company has a cash balance per books of $7,750 and the following additional…

A: Adjusted Cash Balance shows the amount of money one should have in their bank accounts.

Q: GENERAL LEDGER ACCOUNT TITLE     CASH                                                     ACCOUNT…

A: A ledger is an account where all the entries recorded in the Journal are transferred and posted. A…

Q: Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the…

A: Solution:- Preparation of the necessary entries to adjust the balance of cash as follows under:-

Q: Prepare the bank reconciliation on June 30 and July 31, and adjusting journal entries on July 31*…

A: Since you have posted a question with two sub-parts and have asked specifically to solve Part 2, we…

Q: following transactions took place during August of the current year. Please complete the Cash…

A: Cash Payment Journal Date Doc. No. Post. Ref. Account Title General Debit Accounts Payable  Debit…

Q: Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: The bank statement balance is $3,500 and shows a service charge of $24 ​, interest earned of $3​,…

A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Q: fore reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in…

A: Bank Reconciliation The purpose of preparing the bank Reconciliation statement is to rectify the…

Q: how do I journalize the entry to record the cash receipts and cash sales on March 1st?   Refer to…

A: Dear student, since you asked only for cash receipt and cash sales transaction,  The journal entry…

Q: At the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on…

A: Cash short and over = Income from services + Change Fund - coins - currency - traveler's checks -…

Q: At June 30, Mareska Company has the following bank information:  cash balance per bank $3,600;…

A: A bank reconciliation statement is a summary of banking and business activity that reconciles an…

Q: Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the…

A: Basic Amounts that are are directly credit to the bank account will increase cash. Amounts that are…

Q: The actual cash received during the week ended June 7 for cash sales was $19,001, and the amount…

A: The difference between Actual cash present and cash per book goes to the Cash Short and Over…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.