Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 Bank charges: $35 Notes receivable: $1,325; interest: $235 Prepare the journal entry to reconcile the bank statement.
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Using the following information, prepare a bank reconciliation.
- Bank balance: $4,021
- Book balance: $2,928
- Deposits in transit: $1,111
- Outstanding checks: $679
- Bank charges: $35
- Notes receivable: $1,325; interest: $235
Prepare the
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- Using the following information, prepare the journal entries to reconcile the bank statement. • Bank balance: $3,678 • Book balance: $2,448 • Deposits in transit: $322 • Outstanding checks: $108 and $434 • Bank service charges: $25 • Notes receivable: $1,000; Interest income: $35 If an amount box does not require an entry, leave it blank. II IIUsing the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $4,178 Book balance: $2,849 Deposits in transit: $323 Outstanding checks: $108 and $534 Bank service charges: $25 Notes receivable: $1,000; Interest income: $35 If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15Using the check register below and the following bank statement, prepare a bank reconciliation for Lee.com. Note: Input all amounts as positive values. Round your answers to 2 decimal places. NUMBER 959 960 960 961 962 962 RECORD ALL CHARGES OR CREDITS THAT AFFECT YOUR ACCOUNT ✓ FEE (IFANY) (-) DATE 2022 8/7 8/15 8/19 8/20 8/24 7/29 Date 8/1 balance 8/18 8/19 8/26 8/30 DESCRIPTION OF TRANSACTION AT&T Staples Deposit West Electric Bank of America Deposit BANK STATEMENT Checks $ 143.50 319.24 15.00 SC PAYMENT/ DEBIT (-) $143.50 Deposits $ 800.00 66.10 451.88 319.24 Balance $ 4,500.75 4,357.25 5,157.25 4,838.01 4,823.01 $ DEPOSIT/ CREDIT (+) $ 800.00 400.30 BALANCE $4,500.75 -143.50 4357.25 -66.10 4291.15 800.00 5091.15 -451.88 4639.27 -319.24 4320.03 400.30 $ 4720.33
- Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank Reconciliation Statement. Use the space provided after the illustrations for your answer. Cash-in-bank (IPB Bank) Dec. 4 Check No. 6 Check No. 8 Check No. 9 Check No. Dec. 1 Deposit 90,000 45,000 9,000 72,000 4,500 13,500 324003 36,000 9,100 324005 27,000 324006 22,500 324001 12 Deposit 324002 23 Deposit 27 Deposit 324004 12 Check No. 20 Check No. 28 Check No. 324007 45,000 Bank Statement Date Check No. Withdrawals Deposits 90,000 Balance 90,000 Dec. 1 10 324004 9,100 80,900 20 324001 4,500 22,500 76,400 53,900 22 324006 27 45,000 98,900 29 9,000 107,900 29 324003 36,000 71,900 29 27,000 CM 98,900 31 1800 SC 97,100 CM - Credit Memo DM - Debit Memo SC - Service Charge RT - Returned Check Legend:Using the following information, prepare a bank reconciliation. • Bank balance: $4,021 • Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 • Bank charges: $35 • Notes receivable: $1,325; interest: $325 Search entries or author Unread Reply Replies are only visible to those who have posted at least one reply. Previous MacBook Air F7 20 F3 O00 ロロロ F5 F6 F4 & $ 4 5 6 #3Bank Reconciliation (Transactions are Presented Using Bank Statement and Ledger) Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank Reconciliation Statement. Use the space provided after the illustrations for your answer. Cash-in-bank (IPB Bank) 1 Deposit 12 Deposit 23 Deposit 27 Deposit 90,000 45,000 Dec. Dec. 4 Check No. 324001 4,500 6 Check No. 324002 13,500 9,000 8 Check No. 324003 36,000 9 Check No. 9,100 324005 27,000 72,000 324004 12 Check No. 20 Check No. 324006 22,500 28 Check No. 324007 45,000
- Indicate what effect each situation will have on the bank reconciliation process. Place the number of your choice beside the items listed. 1. Add to bank balance 2. Deduct from bank balance 3. Add to checkbook balance 4. Deduct from checkbook balance a. deposit in transit b. bank service charge c. NSF check d. Check written for $95 recorded on the company's ledger as $59 e. Outstanding checks f. Check written for $80 recorded as $800 g. Check printing charges h. Interest earned on checking accountUsing the following information, prepare a bank reconciliation. Bank balance: $4,787 Book balance: $5,792 • Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $51 NSF check: $466 Bank Reconciliation Bank Statement Balance at (date) Add: Less: Adjusted Bank Balance Book Balance at (date) Add: Less: Adjusted Book BalanceAttor Now engagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false lication eBook Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $6,788 Book balance: $8,561 Deposits in transit: $1,803 ● Outstanding checks: $569 and $1,523 Bank service charges: $75 ● Bank incorrectly charged the account $75. The bank will correct the error next month. ● check was expensed to Utilities Expense. Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This If an amount box does not require an entry, leave it blank. X X 88 Bank Service Charges 75 ✔ 8 Cash Check My Work statement. Journalize the activity that affects the company's cash balance but it wouldn't know about until receiving the bank Check My Work 2 more Check My Work uses remaining Previous W 9 S MacBook Pro & JE 7 C O GO GO Fight_Ch10(....ppt 10,034 # 3 E D C $ 4 APR 2 30 R…
- Using the following information, prepare the journal entries to reconcile the bank statement. Bank balance: $4,687 Book balance: $404 Deposits in transit: $1,546 Outstanding checks: $958 Interest income: $52 NSF check: $456 If an amount box does not require an entry, leave it blank. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12Bank reconciliations are typically prepared for... A. Savings Accounts B. Current Accounts C. Time Deposits D.Credit Accounts The cash ledger showed a balance of P2M, while the bank statement showed a balance of P800,000. What item must be reconciled to balance the cash ledger and bank statement? A. P1.2M deposit in transitB. P1.2M outstanding check C. P1.2M book error D. P1.2M debit memo Which of the following is not a bank reconciling items? A. Deposit in Transit B. Credit Memo C. Bank Error D. Outstanding ChecksUsing the following information: 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 and using the following accounts/items: Bank Errors Bank Service Charges Cash Deposits in Transit Interest Expense Interest Income Notes Receivable Outstanding Checks you are to prepare a bank reconciliation: Bank Balance [ Select ] Book Balance [ Select] Add items: Add items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] Less items: Less items: [ Select ] [ Select ] [ Select] [ Select ] [ Select ] [ Select ] [ Select] [ Select ] Adjusted Bank Bal. [ Select ] Adjusted Book Bal. [ Select ] PLEASE NOTE: For the above reconciliation, if no dollar amount is needed, please use "$0" or if no item is needed, please use "None" - no quotation marks. You must enter the account and item names exactly as written above and all dollar amounts will be with "$" and commas…
