Question
In: Accounting
Preparing a bank Reconciliation Statement: •The July 31 bank statement for Parkview Company indicated a cash...
Preparing a bank Reconciliation Statement:
•The July 31 bank statement for Parkview Company indicated a
cash balance of $5,000.17.
•The cash ledger account on that date shows a balance of
$4,262.83.
•Four outstanding checks totaled $717.75.
•A $410.90 deposit made after banking hours on July 31 does
not appear in the bank statement.
•On July 30, the bank returned J.B. Ball’s NSF check for
$50.25, received as payment of an account receivable.
•The bank statement showed $24.74 interest earned on the bank
balance for the month of July. The bank collected a non-interest
bearing note on July 22 for $500 and charged a $5 collection
fee.
•Check 893 for telephone expenses cleared the bank for $85 but
was erroneously recorded in our books as $58.
•The bank charged a July service charge of $12.00.
Solutions
ekkarill92 answered 6 months agoRelated Solutions
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Bank Reconciliation and Entries
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Checks outstanding totaled $5,930.
A deposit of $6,180, representing receipts of July 31, had been
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Checks outstanding totaled $17,865.
A deposit of $9,150, representing receipts of July 31, had been
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Required:
The bank had collected $6,095...
Bank Reconciliation and Entries The cash account for Stone Systems at July 31, 20Y5, indicated a...
Bank Reconciliation and Entries
The cash account for Stone Systems at July 31, 20Y5, indicated a
balance of $17,750. The bank statement indicated a balance of
$33,650 on July 31, 20Y5. Comparing the bank statement and the
accompanying canceled checks and memos with the records reveals the
following reconciling items:
Checks outstanding totaled $17,865.
A deposit of $9,150, representing receipts of July 31, had been
made too late to appear on the bank statement.
The bank had collected $6,095 on...
Bank Reconciliation and Entries The cash account for Stone Systems at July 31, 20Y5, indicated a...
Bank Reconciliation and Entries
The cash account for Stone Systems at July 31, 20Y5, indicated a
balance of $17,750. The bank statement indicated a balance of
$33,650 on July 31, 20Y5. Comparing the bank statement and the
accompanying canceled checks and memos with the records reveals the
following reconciling items:
Checks outstanding totaled $17,865.
A deposit of $9,150, representing receipts of July 31, had been
made too late to appear on the bank statement.
The bank had collected $6,095 on...
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The cash account for Corey’s Construction Company at August 31,
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received by the company indicated a balance of $39,473.63 as at
August 31, 2020. A comparison of the bank statement and the
accompanying cancelled cheques and memos with the records revealed
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A deposit of $6,794.62 was received by the bank on August 31
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Cheques #251 for $1,200 and #260...
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Assume that a company is preparing a bank reconciliation for the
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For each of the following items, indicate whether the item is an
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The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash...
The bank statement for Adcock Company indicates a balance of
$830 on July 31. The cash balance per books had a balance of $390
on this date. The following information pertains to the bank
transactions for the company.
1.
Deposit of $840, representing cash receipts of July 31, did not
appear on the bank statement.
2.
Outstanding checks totaled $390.
3.
Bank service charges for June amounted to $30.
4.
The bank collected a note receivable for the company for...
Preparing a bank reconciliation
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Check number 160 payable to Simon Company was recorded in the
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When the bank reconciliation has differing amounts of the company cash account and the bank statement...
When the bank reconciliation has differing amounts of the company
cash account and the bank statement what must you do
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