Taylor's bank statement indicates that the balance of his checking account is $1362, but according to Taylor's check register, the balance of his account is $1398. Is it possible that Taylor transposed a 2-digit number in his check register? Why or why not?
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Taylor's bank statement indicates that the balance of his checking account is $1362, but according to Taylor's check register, the balance of his account is $1398. Is it possible that Taylor transposed a 2-digit number in his check register? Why or why not?
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- For the following question, reconcile the bank statement and check register. Would they need to make an adjustment or does everything reconcile? Sylvia’s checkbook balance on July 31 is $389.32. The information on her bank statement is given below. The outstanding checks, unrecorded deposits, and unrecorded ATM transactions are listed here also. From this information will her account reconcile? Bank statement: $434.30; Interest: $0.79; Service charge: $2.75 Outstanding checks: #911: $53.29; #912: $31.16; #913: $20.04; #920: $11.42; #923: $24.50; #925: $16.90; #930: $33.30; #932: $8.70; #933: $10.55. Unrecorded deposits ATM: 7/30: $183.52; 7/31: $69.40. Unrecorded ATM withdrawals: 7/30: $40.00; 7/31: $50.00 Bank Statement Reconcile Amount: Check Register Reconcile Amount:Kameron Gibson's bank statement showed a balance of $1,016.75. Kameron's checkbook had a balance of $22710. Check No. 104 for $121.60 and check No. 105 for $15.85 were outstanding. A $775.30 deposit was not on the statement. He has his payroll check electronically deposited to his checking account-the payroll check was for $1,467.50. There was also a $12.50 teller fee and an $27.50 service charge. Prepare Kameron Gibson's bank reconciliation. (Round your answers to 2 decimal places.) Kameron's checkbook balance Bank balance Add: Add: Subtotal Subtotal Deduct: Deduct Reconciled balance Reconciled balanceThe bank mistakenly withdraws a check amounting $75,000 on thecompany’s account. What is the journal entry to correct the bank record?
- Kameron Gibson's bank statement showed a balance of $1,020.35. Kameron's checkbook had a balance of $282.10. Check Number 104 for $150.70 and check Number 105 for $16.35 were outstanding. A $666.60 deposit was not on the statement. He has his payroll check electronically deposited to his checking account-the payroll check was for $1,260.90. There was also a $10.70 teller fee and an $12.40 service charge. Prepare Kameron Gibson's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Kameron's checkbook balance Add: Subtotal Deduct: Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Subtotal Deduct: Reconciled balanceSuppose that Lena, who has an account at SunTrust Bank, writes a check for $140 to Jose, who has an account at National City Bank. Use following the T-account for SunTrust Bank to show how it is affected after the check clears. Assets LiabilitiesDooley 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?
- Thomas's financial accounting records show Thomas's cash account with ending balance of $580. Thomas just received a bank statement from Wells Fargo, his bank, showing a $20 service charge and an NSF check in the amount of $180. Not included on the Wells Fargo bank statement are a $250 deposit in-transit and outstanding checks totaling $430. What amount of cash should Thomas report on the balance sheet? (Please prepare well-labeled computations supporting your answer.)Roscoe's Rock Shop deposited a check for $675, but it was recorded on their books as a check for $576. This error of $99 would be: A. subtracted from Roscoe's book balance. B. added to Roscoe's book balance. C. added to the bank balance. O D. subtracted from the bank balance.Willis signed a blank check and left it in his desk drawer. A thief stole the check, filled it in, and presented it to the bank for payment. The bank paid the check. Can Willis recover the amount of the check from the bank?
- 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.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:Saved Kameron Gibson's bank statement showed a balance of $717.72. Kameron's checkbook had a balance of $209.50. Check No. 104 for $110.07 and check No. 105 for $15.55 were outstanding. A $620.50 deposit was not on the statement. He has his payroll check electronically deposited to his checking account-the payroll check was for $1,025.10. There was also a $4 teller fee and an $18 service charge. Prepare Kameron Gibson's bank reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places.) BANK RECONCILIATION Kameron's checkbook balance Bank balance Add: Add: Subtotal Subtotal Deduct: Deduct: Subtotal Reconciled balance Reconciled balance