Delwood Furniture Company has provided the following information: Ending cash balance per bank statement is $14,862...

Delwood Furniture Company has provided the following information:

Ending cash balance per bank statement is $14,862

Monthly bank service charge is $25

Deposits in transit at month-end are $1,218

Outstanding checks at month-end are $4,344

Customer's check returned-NSF is $174

What would be the cash balance per the company records, prior to recording any journal entries resulting from the bank reconciliation?

Solutions

Expert Solution


Bank reconciliation Statement
Particulars	Amount
Cash balance per bank	14,862.00
Add Monthly bank service charge	25.00
Deposits in transit	1,218.00
Outstanding checks	(4,344.00)
Customer's check returned-NSF	174.00
cash balance per the company records	11,935.00

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

The company has a beginning cash balance of $7,000. Using the following information, calculate the ending...

The company has a beginning cash balance of $7,000. Using the following information, calculate the ending balance of cash: -Note receivable collected by the bank = $5,000 -Checks outstanding = $8,000 -Bank service fees = $1,000 -Non-sufficient funds (NSF) checks = $2,000 -Deposits Outstanding = $11,000 I know the anwer is 9000. Explain it!!!!! Suppose supplies at the beginning of the year equal $1,200. During the year, an additional $5,400 of supplies is purchased. At the end of the year,...

A company has the following information. 1. Cash balance per bank, July 31, $7,328 2. July...

A company has the following information. 1. Cash balance per bank, July 31, $7,328 2. July bank service charge on bank statement, $40 3. Cash balance per company books, July 31, $7,280 4. Bank statement shows a Note Receivable of $2,000 plus $16 of interest was collected by the bank. 5. Outstanding checks, July 31, $772 6. Deposits in transit, July 31, $2,700 Compute the adjusted cash balance per company books. Do not enter a dollar sign or any commas.

Using the following information: The bank statement balance is $3,370. The cash account balance is $3,527....

Using the following information: The bank statement balance is $3,370. The cash account balance is $3,527. Outstanding checks amounted to $578. Deposits in transit are $632. The bank service charge is $94. A check for $44 for supplies was recorded as $35 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement $ Adjustments: Deposits in transit not recorded by bank $ Outstanding checks Total...

Using the following information: The bank statement balance is $2,764. The cash account balance is $3,005....

Using the following information: The bank statement balance is $2,764. The cash account balance is $3,005. Outstanding checks amounted to $647. Deposits in transit are $697. The bank service charge is $182. A check for $68 for supplies was recorded as $59 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement$ Adjustments: $ Total adjustments Adjusted balance$ Cash balance according to company's records$ Adjustments:...

Note the following information related to a company’s cash account : Cash Balance per Bank Cash...

Note the following information related to a company’s cash account : Cash Balance per Bank Cash balancer per bank, 12/31/19 9,610 Check #6832 cleared the bank for $240, but erroneously recorded by company for $268 Outstanding checks 2,417 Deposit by ABC Inc erroneously recorded to the company by the bank 486 NSF check returned by bank 281 Cash balance per books, 12/31/19 7,430 December 2019 interest per bank 30 Check mailed to bank for a deposit that had not reached...

The following information is for Blossom Company: 1. Cash balance per bank, July 31, $8,836. 2....

The following information is for Blossom Company: 1. Cash balance per bank, July 31, $8,836. 2. July bank service charge not recorded by the depositor, $28. 3. The bank erroneously charged another company’s $840 cheque against Blossom’s account. 4. Cash balance per books, July 31, $10,541. 5. The bank charged Blossom’s account $420 for a customer’s NSF cheque. 6. Deposits in transit, July 31, $2,640. 7. Blossom recorded a cash receipt for a cash sale from a customer as $32....

At 31 July Ridley Pty Ltd has this bank information: cash balance as per bank $8420;...

At 31 July Ridley Pty Ltd has this bank information: cash balance as per bank $8420; unpresented cheques $862; outstanding deposits $2700; and a bank service charge $20. Determine the balance of the Cash at Bank account after any required adjustments. Prepare entry to replenish a petty cash fund. Please help me with this question

Seth and Company Inc. has provided the information to be able to reconcile its bank statement...

Seth and Company Inc. has provided the information to be able to reconcile its bank statement as of December 31, 2018. a. The December 31 cash balance according to the accounting records is $32,878.30, and the bank statement cash balance for that date is $46,822.40. b. Check No. 1273 for $4,589.30 and Check No. 1282 for $400, both written and entered in the accounting records in December, are not among the canceled checks. Two checks, No. 1231 for $2,289 and...

The following information pertains to Sheridan Video Company. 1. Cash balance per bank, July 31, $7,943....

The following information pertains to Sheridan Video Company. 1. Cash balance per bank, July 31, $7,943. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,964. 4. Deposits in transit, July 31, $1,840. 5. Bank collected $1,240 note for Sheridan in July, plus interest $45, less fee $29. The collection has not been recorded by Sheridan, and no interest has been accrued. 6. Outstanding checks, July 31, $600.

Derek Company gathered the following reconciling information in preparing its September bank reconciliation: Cash balance per...

Derek Company gathered the following reconciling information in preparing its September bank reconciliation: Cash balance per books, 9/30 $2,190 Deposits in transit 572 Notes receivable and interstate's collected by bank. 879 Bank charge for check printing 29 Outstanding checks 1,322 NSF 178 Find the adjusted cash balance per books on September 30. Select the correct answer. $2,862 $2,112 $1,440 $2,290

Subjects