Following information are given :- A Balance as per cash book 30,000. b. Cheque issued 10,000 but not presented for payment. c. Bank charge debited in passbook 1500 but not recorded in cash book. d. Cheque 5000 sent for collection but only 2000 was credited by bank. e. A customer directly deposited in Bank 8000 was not recorded in cash book. f. Insurance premium paid by bank 1000 but not report was made in cash book Required: Bank Reconciliation's Statement

Following information are given :- A Balance as per cash book 30,000. b. Cheque issued 10,000 but not presented for payment. c. Bank charge debited in passbook 1500 but not recorded in cash book. d. Cheque 5000 sent for collection but only 2000 was credited by bank. e. A customer directly deposited in Bank 8000 was not recorded in cash book. f. Insurance premium paid by bank 1000 but not report was made in cash book Required: Bank Reconciliation's Statement

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 6EA: The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes...

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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.
What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the bank statement? a. Cash 250 DR; NSF Check 250 CR b. Accounts Receivable 250 DR; Cash 250 CR c. NSF Check 250 DR; Accounts Receivable 250 CR d. Cash 250 DR; Accounts Receivable 250 CR e. Cash 250 DR; Miscellaneous Expense 250 DR
• A bank service charge of $10 is deducted by the bank and appears on the November 30 bank statement. 1. The following information is available for Hapley Co. • November 30 bank statement shows a $1,895 balance. • The general ledger shows a $1,742 balance at November 30. • A $795 deposit placed in the bank's night depository on November 30 does not appear on the November 30 bank How will the customer's note appear on Hapley's November 30 bank reconciliation? a. $320 appears as an addition to the book balance of cash. b. $320 appears as a deduction from the book balance of cash. c. $320 appears as an addition to the bank balance of cash. d. $320 appears as a deduction from the bank balance of cash. e. $335 appears as an addition to the bank balance of cash. statement. • Outstanding checks amount to $638 at November 30. • A customer's $320 note was collected by the bank and deposited in Hapley's account in November.
6. Which will not require an adjusting entry on the depositor’s books? a. NSF check from customer b. Check in payment of account payable amounting to P50,000 is recorded by the depositor as P5,000 c. Deposit of another entity credited to the account of the depositor d. Bank service charge
7. The following information pertains to Mekka Company. a. Cash balance as per bank, July 31, RO 14,526 b. July bank service charges not recorded by the depositor RO 56 c. Cash balance as per books, July 31, RO 14,568 d. Deposit in transit, July 31, RO 3,000 e. Bank collected RO 1800 note for Mekka in July, plus interest RO 72, less fee RO 40. The collection has not been recorded by Mekka, and no interest has been accrued. f. Outstanding checks, July 31, RO 1182. Instruction: Prepare bank reconciliation at July 31