gget discovered that cheque 735 written in March for $767 and cleared the bank was recorded in their books as $
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- Nugget discovered that cheque 735 written in March for $767 and cleared the bank was recorded in their books as $676
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Does it go under balance per bank statement or balance per books for reconciliation worksheet?
- The accountant of Jonathan Manufacturing Company was tasked to perform monthly bank reconciliation. She downloaded the company's April 30 bank statement that showed a balance of P32,400. She also printed the cash ledger from the company's computerized accounting system. It contains the ending balance of P8,350. She also found the following reconciling items: a. The bank statement showed bank service fee of P800 b. The bank collected P1,500 from a note receivable for Jonathan Manufacturing. Also, a collection fee of P250 was charged. c. Deposits in transit, P51,000. d. Checks outstanding on May 31, P79,100. e. The accountant found a check issued to Rhys Corp. for P4,50 that cleared the bank but was not in the cash ledger. Required: Prepare a Bank Reconciliation StatementThe accountant of Jonathan Manufacturing Company was tasked to perform monthly bank reconciliation. She downloaded the company’s April 30, 2019 bank statement that showed a balance of P32,400. She also printed the cash ledger from the company’s computerized accounting system. It contains the ending balance of P8,350. She also found the following reconciling items:a. The bank statement showed bank service fee of P800.b. The bank collected P1,500 from a note receivable for Jonathan Manufacturing. Also, a collection fee of P250.00 was charged.c. Deposit in transit, P51,000.d. Checks outstanding on April 30, P79,100.e. The accountant found a check issued to Rhys Corp. for P4,500 that cleared the bank but was not in the cash ledger. Requirement:a. Prepare the bank reconciliation statement.b. Journalize the adjusting entries.The accountant of Sophia Manufacturing Company was tasked to perform monthly bank reconciliation. She downloaded the company’s April 30, 2019 bank statement that showed a balance of P32,400. She also printed the cash ledger from the company’s computerized accounting system. It contains the ending balance of P8,350. She also found the following reconciling items:a. The bank statement showed bank service fee of P800.b. The bank collected P1,500 from a note receivable for Sophia Manufacturing. Also, a collection fee of P250.00 was charged.c. Deposit in transit, P51,000.d. Checks outstanding on April 30, P79,100.e. The accountant found a check issued to Rhys Corp. for P4,500 that cleared the bank but was not in the cash ledger. Requirement:a. Prepare the bank reconciliation statement.b. Journalize the adjusting entries.
- On September 1, Sharon Santos was given his monthly bank statement with a bank balance of P 17,063.50. On that date , her checkbook balance was P 24,194.50. Upon examining the bank statement and her checkbook she discovered the following: a) outstanding check as P 4,035; b) deposit of P 7,500 was not recorded on the stub. c) deposit of P 6,185 was entered as P 6,851 on the stub d) check deposit for P 25,930 was entered as P 24,930 e) deposit of P 10,240 was recorded twice on the stub f) deposit of P 12,560 was late to be included in the bank statement. g) service charge of P 200 was deducted by the bank h) check issued for P 15,645 as written on the stub as P 18,645. Prepare a bank reconciliation statement for Sharon Santos.Dooley Company sent a deposit of $7,000 to the bank. The bank credited Dooley Company's checking account for a deposit of $700. In reconciling the bank statement, the bookkeeper saw the deposit of $700 instead of the bank recording it at $7,000. Which journal entry should Dooley Company prepare?Alexix Gracie's current checkbook balance is $8,900.15. She opened up the bank statement and saw the bank's balance at $7,000.10. After reviewing her records with the bank statement, she discovered a deposit on July 1 not recorded on the statement for $9,821.55. A check written for $7,986.05 had not been returned by the bank. This month the company earned interest of $33.10. The bank charged the company $48.10 for printing new checks. Alexis also discovered that a check written for $49.55 was not recorded in the check stubs. The reconciled balance is:
- Miss Corina Cruz bank statement on September 30 showed a balance of P 26,091.20.Her checkbook showed a balance of P 23,305.70.She had noticed that checks # 13 for P 1,168.00 and # 18 for P 1,628.50 were outstanding.There was also a service charge of P 11.00. Prepare a bank reconciliation statement.XYZ Inc is preparing the October month-end Bank Reconciliation. The balance in the cash ledger on October 31 was $1,900. Some adjustments to this cash ledger balance were recorded on the Bank Reconciliation Report, as follows: • Bank service charge $55 NSF cheque: $375 • Cheque # 40 was correctly written and processed for $3,030 however the XYZ bookkeeper recorded the cheque amount for $3,300. What is the adjusted cash balance for October 31, for the Bank Reconciliation Report? Show your basic math.The following data have been gathered for Syncronics, Inc.: Thė July 31 bank balance was $4,000, b. The bank statement included $65 in servicę charges. There was an EFT deposit of $900 on the bank statement for the monthly rent from the tenant. а. с. d. Checks #541 and #543 for $205 and $320, respectively, were not among the can- celed checks returned with the statement. The July 31 deposit of $350 did not appear on the bank statement. f. The bookkeeper had erroneously recorded a $50 check as $500. The check was written to a vendor to pay off a debt. g.. Included with the canceled checks was a check written by Syncronize Corporation for $200 which was deducted from Syncronics' account, h. The bank statement also included an NSF check written by Multimedia, Inç. for a $460 payment on account. The cash account showed a balance of $3,200 on July 31. е. i. Required: 1. Prepare the July 31 bank reconciliation for Syncronics, Inc. 2. ADJUST The Co'r CASH BAIAN ce
- The following data have been gathered for Syncronics, Inc.: Thė July 31 bank balance was $4,000, b. The bank statement included $65 in servicę charges. There was an EFT deposit of $900 on the bank statement for the monthly rent from the tenant. а. C. d. Checks #541 and #543 for $205 and $320, respectively, were not among the can- celed checks returned with the statement. The July 31 deposit of $350 did not appear on the bank statement. · f. The bookkeeper had erroneously recorded a $50 check as $500. The check was written to a vendor to pay off a debt. е. g. Included with the'canceled checks was a check written by Syncronize Corporation for $200 which was deducted from Syncronics' account. h. The bank statement also included an NSF check written by Multimedia, Inc. or a $460 payment on account. The cash account showed a balance of $3,200 on July 31. i. Required: 1. Prepare the July 31 bank reconciliation for Syncronics, Inc. 2. ADJUST The Co'r CASH BA/AN ceThe bank statement balance is $3,500 and shows a service charge of $24 , interest earned of $3, and an NSF cheque for $100. Deposits in transit total $1,400; outstanding cheques are $450. The bookkeeper mistakenly recorded as $158 a cheque of $132 in payment of an account payable. 1. Prepare Bank Reconciliation 2. Prepare the adjusting entryYour examination of the bank data shows that the credits consist of P78,000 of August deposits and a credit memorandum of P2,070 for collection of a P2,000 note plus interest revenue of P70. The August debits per bank consist of checks cleared, P74,700 and a debit memorandum of P40 for printing additional company checks. You also discover the following errors involving August checks: (1) a check for P230 to a creditor on account that cleared the bank in August was journalized and posted as P320, and (2) a salary check to an employee for P255 was recorded by the bank for P155. The July 31 bank reconciliation contained only two reconciling items: deposits in transit, P1,000 and outstanding checks, P2,600. 1. How much is the deposit in transit on August 31? 2. How much is the outstanding check on August 31? 3. How much is the adjusted cash balance on August 31?