On 31 March the balance brought down on a firm's bank account in its ledger was...

On 31 March the balance brought down on a firm's bank account in its ledger was

£3,600, credit. At the same date, outstanding cheques amounted to £1,400 and

outstanding lodgements amounted to £2,000. A cheque for £500, received from a

DEBTOR, was SUBSEquently dishonoured. The receipt of the cheque had been correctly

recorded but no entry has yet been made in the accounting records in respect of it

being dishonoured. On the basis of the above information, the balance on the firm's

bank statement at 31 March was

Solutions

Expert Solution

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

The Odum Corporation’s cash account showed a balance of $17,198 on March 31, 2007. The bank...

The Odum Corporation’s cash account showed a balance of $17,198 on March 31, 2007. The bank statement balance for the same date indicated a balance of $17,924.55. The following additional information is available concerning Odum’s cash balance on March 31, 2007. 1. Undeposited cash on hand on March 31 amounted to $724.50. 2. A customer’s NSF check for $173.80 was returned with the bank statement. 3. A note for $2,000 plus interest of $25 was collected for Odum by the...

The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: ACCOUNT NO....

The ledger accounts of AXX Internet Company appear as follows on March 31, 2019: ACCOUNT NO. ACCOUNT BALANCE 101 Cash $ 65,000 111 Accounts Receivable 35,860 121 Supplies 9,100 131 Prepaid Insurance 23,500 141 Equipment 103,000 142 Accumulated Depreciation—Equipment 39,820 202 Accounts Payable 11,500 301 Aretha Hinkle, Capital 115,000 302 Aretha Hinkle, Drawing 11,500 401 Fees Income 311,000 510 Depreciation Expense—Equipment 19,660 511 Insurance Expense 9,900 514 Rent Expense 31,500 517 Salaries Expense 151,000 518 Supplies Expense 4,100 519 Telephone...

On May 31, 2017, Forester Theatre's cash account per its general ledger showed the following balance:...

On May 31, 2017, Forester Theatre's cash account per its general ledger showed the following balance: CASH No. 101 Date Explanation Ref Debit Credit Balance May 31 Balance 6,841 The bank statement from Canada Bank on that date showed the following balance: CANADA BANK Cheques and Debits Deposits and Credits Daily Balance XXX XXX 5/31 6,804 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1.The statement included a...

Broadway Enterprises has received its bank statement as at March 31, 2019 which showed a balance...

Broadway Enterprises has received its bank statement as at March 31, 2019 which showed a balance of $15,180. Meanwhile its Cash book balance at March 31, 2019 stood $8,140. In addition, the Accountant of Broadway Enterprises was presented with the following information: Bank charges for the month were shown as $250 as per bank statement. Cheques issued to two creditors-Alloy Limited for $900 (cheque #253) and Ben Lion for $270 (cheque #258) were not presented to the bank and remain...

Account Balances as of December 31, 2018 Debit Balance Credit Balance 100000 Bank Account $277,518 110100...

Account Balances as of December 31, 2018 Debit Balance Credit Balance 100000 Bank Account $277,518 110100 Accounts Receivable (Direct Posting Account) 92,670 110150 Allowance for Bad Debts 2,500 200600 Inventory-Operating Supplies 8,832 200900 Inventory-Raw Materials (Direct Post) 52,000 200910 Inventory-Finished Goods (Direct Post) 281,298 200920 Inventory-Trading Goods (Direct Post) 66,474 210000 Prepaid Insurance 5,000 212000 Prepaid Advertising 1,100 220110 Land (Direct Post) 425,000 220210 Production Machinery, Equip & Fixtures (Dir.Post) 915,000 220310 Accumulated Depreciation-Machinery (Direct Post) 305,000 300200 Accounts Payable...

On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,439

On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,439. The company's cash receipts for the month total $74,600, of which $71,365 has been deposited in the bank. In addition, the company has written checks for $72,509, of which $71,234 has been processed by the bank. The bank statement reveals an ending balance of $12,749 and includes the following items not yet recorded by Damon: bank service fees of $290, note receivable collected by the bank...

Spielberg Company's general ledger shows a checking account balance of $22,910 on July 31, 2021

Exercise 4-9A Calculate the balance of cash using a bank reconciliation (LO4-5) Spielberg Company's general ledger shows a checking account balance of $22,910 on July 31, 2021. The July cash receipts of $1,825, included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $49. The bank processes all checks written by the company by...

On October 31, 2021. Damon Company's general ledger shows a checking account balance of $8.457 ...

On October 31, 2021. Damon Company's general ledger shows a checking account balance of $8.457. The company's cash receipts for the month total $74,720, of which $71,395 has been deposited in the bank. In addition, the company has written checks for $72,527, of which $71,342 has been processed by the bank. The bank statement reveals an ending balance of $13,187 and includes the following items not yet recorded by Damon: bank service fees of $350, note receivable collected by the bank...

Spielberg Company's general ledger shows a checking account balance of $22,880 on July 31, 2021. The...

Spielberg Company's general ledger shows a checking account balance of $22,880 on July 31, 2021. The July cash receipts of $1,795, included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $46. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for...

The balance in the Colt Company's Cash account on August 31 was $19,700, before the bank...

The balance in the Colt Company's Cash account on August 31 was $19,700, before the bank reconciliation was prepared. After examining the August bank statement and items included with it, the company's accountant found: Checks outstanding $4,300 Check from customer returned NSF 140 Note collected by bank for the Colt Company 1,200 Deposits outstanding 1,800 Bank service fees 60 What is the amount of cash that should be reported in the balance sheet as of August 31? rev: 02_28_2019_QC_CS-161029 A)$22,200....

Subjects