Which of the following is an example of a book item, an item that is found on the bank statement that you have not recorded in the books yet? Bank service charge Cash deposits made at the bank last month Interest earned last year Taxable income
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- lemic Calendar My MCBS Library English (en) - ndamentals of Financial Accounting Summer Session 12021/ACT 140/D2 / Final Examination/ AC In a bank reconciliation statement, explain. A. Non-sufficient-funds (NSF) check B. What is a deposit in transit? A BI - mcbs.proctoring.online is sharing your screen. Stop 11Which of the following item, have been recorded on the company's books but not yet by the bank: ered f1.00 Select one: stion a. Cash per bank b. Outstanding checks c. Cash per book d. Deposits in transitBank ReconciliationLidia has the following information from her books and her August bank statement. She is hoping that you can reconcile her bank account for her. Then prepare a tabular analysis for any adjustments required to reach the adjusted cash balance per books. Be sure to include dates and explanations for any revenues or expenses. Use the provided templates to complete your work. Book Balance $28,600 Bank Balance $32,545 Deposits in transit $3,400 Outstanding checks $5,000, $1,800 and $975 Bank charges $35 Interest earned $55 Health insurance auto-draft $450
- Attor 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…Question Help please explain entries and calculations In seperate boxes for numbers 1-4 so i can learn to do it Thank You. 1.) Bank Reconciliation 2.) General Journal 3.) Bad Debt Calculations 4.) Notes Recievable Calculations In June, Bill commented to you that he could never figure out his bank statement, “it never matches the balance in my accounting records” he tells you. So you explain that a bank reconciliation is a tool used to balance the bank statement to the accounting books. He gives you his bank statement for June, 2014 (shown below). The general ledger shows a balance for the account cash of $14,319.00 on June 30, 2014 (detail transactions below). Bill’s business only has one checking account and no other cash accounts. Bill has begun to have problems collecting some of his credit accounts and is considering writing off a couple of customer account balances. He asks you how these bad debts should be recorded and has asked you to begin recording bad debt using the allowance…ezto.mheducation.com kes Learning | Home mination II Saved Help Save & Exit Submit Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $8,250. The bank reconciliation for the month contained the following items: 15 Deposits in transit Outstanding checks $870 645 56 Interest earned 20 ints NSF check returned to bank Bank service charge 220 70 A 01:39:45 Given the above information, what up-to-date ending cash balance should Rollin report at month-end? Multiple Choice $7,980. $8,530. Mc Graw MacBook DII DD 80 F10 FB F9 F7 F5 F2 F3 23 2$ % & @ 3 4 6. 7 8 W R T. Y G H. J K S D * 00
- Using 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…Bank 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 45,000Q2: Use the following information to prepare a bank reconciliation. Then, make journal entries appropriately. a. Balance per bank statement, RO 8000 b. Balance per books, RO 7200 c. Interest earned on checking account, RO 800 d. Outstanding checks, RO1200 e. NSF check from Mr. Ahmad, RO 185 f. Deposits in transit, RO 2600 g. Bank charged us a check we did not write, RO 500 h. Monthly bank charges, RO 15 i. Error on the books regarding check number 251 – recorded as RO 1000 instead of as RO 300. The debit was to Salary Expense. j. Forgot to record a deposit on the books for RO 600 k. Bank acted as our agent to collect note of RO 800
- My numbers entered could be incorrect. Can you fill out this chart correctly for me according to the questions in the picture provided? Baker College ACC 1010 Principles of Accounting I Kate's Cards Serial Problem -- Chapter 7 a Kate's Card's Corrected Bank Reconciliation January 31, 2019 Ending balance per bank $ 4,844 Ending balance per books $ 10,894 Add: Add: Deposits not credited by banks 7,238 No. 2353 1,080 $ 12,082 $ 11,974 Less: Outstanding checks Less: No. 1432 600 Unrecovered Credit 1,200 No. 1458 467 No. 1512 253…P4.4B The August 31 bank statement of Palm Harbor Apartments has just arrived from Florida First Bank To prepare the Palm Harbor bank reconciliation, your gather the following data: a Palm Harbor's Cash account shows a balance of $3,366.14 on August 31 b. The August 31 bank balance is $4,484 22 E The bank statement shows that Palm Harbor earned $38 19 of interest on its bank bal- ance during August. This amount was added to Palm Harbors bank balance d. Palm Harbor pays utilities ($750) and insurance ($290) by EFT e. The following Palm Harbor checks did not clear the bank by August 31 Check No. Amount 237 $ 46.10 288 141 00 291 293 578.05 11.87 609 51 294 8.88 295 296 101 63 * The bank statement includes a deposit of $891.17, collected by the bank on behalf of Paim Harbor Apartments Of the total, $811 81 is collection of a note receivable, and the remainder is interest revenue. * The bank statement lists a $10.50 bank service charge OAugust 31, the Palm Harbor treasurer deposited…Help would be appreciated 2. On December 31st, Bub's gym received a bank statement for December. b. Prepare a bank reconciliation. Use the following information from the bank statement and business records. Bank balance $1685.00 Bank service charge $25.00 Outstanding Deposit, Dec 30 $450.00 Outstanding checks, No. 23 and 24 Check book balance on check stub No. 25 $1905.00