1) The following is available for Andersen Company for the month ending June 30, 2022: • • ● . . . A bank credit memo indicated a note collected by the bank of $1,900 and interest revenue of $75 on June 20. • The bank statement indicated service charges of $35. Balance per the bank statement is $10,241.43. Balance per books is $9,745.06. Cheque #506 for $1,948.52 and cheque # 510 for $1,800.25 were not returned with the June 30 bank statement. A deposit in transit of $5,113.40 had not been received by the bank when the bank statement was generated. A bank debit memo indicated an NSF cheque in the amount of $79 written by Bruce Garrett to Andersen Company on June 13. Add: Prepare a bank reconciliation for Andersen Company as of June 30, 2022. BANK BOOK Balance June 30, 2019 Balance Feb 28, 2019 Deduct: Adjusted Balance Add: Deduct: Adjusted Balance

1) The following is available for Andersen Company for the month ending June 30, 2022: • • ● . . . A bank credit memo indicated a note collected by the bank of $1,900 and interest revenue of $75 on June 20. • The bank statement indicated service charges of $35. Balance per the bank statement is $10,241.43. Balance per books is $9,745.06. Cheque #506 for $1,948.52 and cheque # 510 for $1,800.25 were not returned with the June 30 bank statement. A deposit in transit of $5,113.40 had not been received by the bank when the bank statement was generated. A bank debit memo indicated an NSF cheque in the amount of $79 written by Bruce Garrett to Andersen Company on June 13. Add: Prepare a bank reconciliation for Andersen Company as of June 30, 2022. BANK BOOK Balance June 30, 2019 Balance Feb 28, 2019 Deduct: Adjusted Balance Add: Deduct: Adjusted Balance

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

See similar textbooks

Similar questions

5) The following data have been gathered for Rocky Candi Corporation for the month ended September 30, 2020. Prepare a bank reconciliation based on the following information: · The bank statement reveals a balance of $8,936. · The September 30, 2020, book balance was $3,200. · There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant. The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account payable. · The bank statement revealed $50 in service charges. · Cheques #322 and #330 for $260 and $285 were not returmed with the bank statement. · A deposit made on September 29, 2020, for $1,250 did not appear on the bank statement. A deposit of $500 made on September 10 was erroneously credited to Rocky Candi's account by the bank for $5,000. A bank debit memo indicated an NSF cheque for $259.
1) Prepare a bank reconciliation dated December 31, 2020, for Welcome Inc. based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2,150.00 were not returned with the bank statement. The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an NSF cheque written by Bill Broke to Welcome Inc. on December 11, 2020, for $169. A bank credit memo indicated a bank collection of $1,700 and interest revenue of $28 on December 15, 2020.
The following information is available for Andersen Company for the month ending June 30, 2013. •Balance per the bank statement is $10,241.43. •Balance per books is $9,745.06. •Check #506 for $1,948.52 and check #510 for $1,800.25 were not returned with the June 30 bank statement. •A deposit in transit of $5,113.40 had not been received by the bank when the bank statement was generated. •A bank debit memo indicated an NSF check in the amount of $79 written by Bruce Garrett to Andersen Company on June 13. •A bank credit memo indicated a note collected by the bank of $1,900 and interest revenue of $75 on June 20. •The bank statement indicated service charges of $35. Required: Prepare a bank reconciliation for Andersen Company for June 30, 2013
Given the following information to reconcile GCompany’s cash book balance with its bank statement balance as of July 31, 2021: a. Cheques #296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank reconciliation. Cheque #307 was returned with the October cancelled cheques, but cheque #296 was not. It was also found that cheque #315 for $893 and cheque #321 for $2,000, both written in July, were not among the cancelled cheques returned with the statement. b. In comparing the cancelled cheques returned by the bank with the entries in the accounting records, it was found that cheque #320 for the July rent was correctly written for $4,090 but was erroneously entered in the accounting records as $4,900. c. Also enclosed with the statement was a $74 debit memo for bank services. It had not been recorded because no previous notification had been received. d. A credit memo enclosed with the bank statement indicated that there was an electronic fund transfer related to a…
*P7.13 (Bank Reconciliation and Adjusting Entries) The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2020. The bank statement as of that date showed a balance of $4,150. Upon comparing the statement with the cash records, the following facts were determined. 1. There were bank service charges for June of $25. 2. A bank memo stated that Bao Dai’s note for $1,200 and interest of $36 had been collected on June 29, and the bank had made a charge of $5.50 on the collection. (No entry had been made on Aguilar’s books when Bao Dai’s note was sent to the bank for collection.) 3. Receipts for June 30 for $3,390 were not deposited until July 2. 4. Checks outstanding on June 30 totaled $2,136.05. 5. The bank had charged the Aguilar Co.’s account for a customer’s uncollectible check amounting to $253.20 on June 29. 6. A customer’s check for $90 (as payment on the customer’s Accounts Receivable) had been entered as $60 in the cash receipts…
(a.) The June 30 balance shown on the bank statement is $5,796. (b.) Outstanding checks at June 30 totaled $330. (c.) A deposit of $424 made on June 30 was not included in the balance shown on the bank statement. (d.) The bank statement contained an adjustment of $410 for a note receivable collected by the bank on behalf of Show Me, Inc. ($382 principal and $28 interest). (e.) A bank charge of $34 was made to the account during June. Although the company was expecting a charge, the amount was not known until the bank statement arrived. (f.) The bank erroneously charged a $340 check of Shirt, Inc., against the Show Me, Inc., bank account. (g.) The June 30 balance in the general ledger Cash account, before reconciliation, is $6,026. (h.) The bank statement included a notice that a customer's check for $172 that had been deposited on June 14 had been returned NSF. (1.) Prepare the bank reconciliation for Show Me, Inc., as of June 30. (2.) Prepare the appropriate adjusting entry(ies) or…
The following data represents information necessary to assist in preparing the July 31, 2019 bank reconciliation for Domore Company. On July 31, the bank balance was $5,353. The bank statement indicated a deduction of $20 for all bank service charges. A customer deposited $1,210 directly into the bank account to settle an outstanding accounts receivable bill. Cheque #566 for $800 and cheque #573 for $560 have been recorded in the company ledger but did not appear on the bank statement. A customer paid an amount of $4,570 to Domore Company on July 31 but the deposit did not appear on the bank statement. The accounting clerk made an error and recorded a $150 cheque as $1,500. The cheque was written to pay an outstanding accounts payable account. Cheque #8603 for $170 was deducted from Domore Company's account by the bank. This cheque was not written by Domore Company and needs to be reversed by the bank. The bank included an NSF cheque in the amount of $490 relating to a…
The following information of Mimosa General Dealers for July 2021 has been provided to you: • The debit balance per the bank account at 31 July 2021 was R6 250. • Bank charges of R130 appeared on the bank statement. • A deposit had been recorded on the bank statement as R620 instead of R820. The deposit slip submitted to the bank had been correctly prepared and recorded in the cashbook. • The bank statement showed a deposit of R600, of which Mimosa General Dealers had no details. It was determined that this deposit was from a debtor who had deposited the amount directly into the bank account of the business. • A receipt for a payment received from the insurance company of R1 800 was recorded on the incorrect side of the cashbook. • The DSTV subscription payable by the business for R90 was one of the debits on the bank statement. • An insurance premium direct debit of R300 appeared on the bank…
Winson Company reported the following information related to its 31 August 2019 bank statement: i) The bank statement's balance is $3267. ii) The cash account balance is $3193. iii) The outstanding checks total $612. iv) The deposits in transit amount to $1415. v)The bank service charge is $27. vi) Winson's accountant issued a check for $153 (inpayment on an account payable) that was erroneously recorded in the ledger as $135. vii)Bank debit memorandum for$138 NSF (not sufficient funds)check from one of its customers. viii) The bank collected an account receivable in the amount of $1060 on. behalf if Winson Company. Required; Prepare Winson Company's bank reconciliation on 31 August 2019.
The following information of Mimosa General Dealers for July 2021 has been provided to you: •The debit balance per the bank account at 31 July 2021 was R6 250. •Bank charges of R130 appeared on the bank statement. •A deposit had been recorded on the bank statement as R620 instead of R820. The deposit slip submitted to the bank had been correctly prepared and recorded in the cashbook. •The bank statement showed a deposit of R600, of which Mimosa General Dealers had no details. It was determined that this deposit was from a debtor who had deposited the amount directly into the bank account of the business. •A receipt for a payment received from the insurance company of R1 800 was recorded on the incorrect side of the cashbook. •The DSTV subscription payable by the business for R90 was one of the debits on the bank statement. •An insurance premium direct debit of R300 appeared on the bank statement in July. Upon enquiring with the bank it was determined that the premium should have been…
The bank statement on 31 October 20X7 showed an overdraft of $800. On reconciling the bank statement, it was discovered that a cheque drawn by your company for $80 had not been presented for payment, and that a cheque for $130 from a customer had been dishonoured on 30 October 20X7, but that this had not yet been notified to you by the bank. What is the correct bank balance to be shown in the statement of financial position at 31 October 20X7?
At December 31 2019, according to the records of Graser Company, the balance of Cash account was $21,783. The October 31 bank statement showed a balance of $26,394. You are to prepare the bank reconciliation of Graser Company at December 31, using the following supplementary information: (iii) Service charge of $150 was charged wrongly to Graser's account by the bank. (iv) A note receivable for $15,000 left by Graser Company with bank for collection that had been collected and credited to company's account. Along with the note collection, interest of $150 was also collected. Interest was accrued and recorded in the month-end adjusting entries by Graser Company previously. (v) A check for $420 drawn by a customer, Stuart Sands, but deducted from Graser's account (i) The December 31 bank statement showed the following checks and deposits. Bank Statement by the bank and returned with the notation "NSF." (vi) Graser's account had a check issued in payment of Building, correctly written in…