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In: Finance
Based on the following information, prepare a bank reconciliation to determine the adjusted corrected balance
Based on the following information, prepare a bank reconciliation to determine the adjusted corrected balance: (input each amount as a positive value)
| Bank balance | $ 680 | Account fees | $ 12 |
| Checkbook balance | $ 642 | ATM withdrawals | $ 80 |
| Outstanding checks | $ 112 | Deposit in transit | $ 60 |
| Direct deposits | $ 70 | Interest earned | $ 8 |
Solutions
jeff jeffy answered 3 years agoRelated Solutions
12. based on the following information, prepare a bank reconciliation to determine the adjusted (corrected) balance:...
12. based on the following information, prepare a bank
reconciliation to determine the adjusted (corrected) balance:
Bank balance $680
Checkbook balance $642
outstanding checks $112
direct deposits $70
Account fees $12
ATM withdrawals $60
interest earned $8
Prepare a bank reconciliation dated December 31, 2020, for Nittany Inc. based on the following information....
Prepare a bank reconciliation dated
December 31, 2020, for Nittany Inc. based on the following
information.
∙
Balance per bank statement is $1,000.
∙
Balance per books is $900.
∙
The December bank statement indicated a service charge of
$30.
∙
Cheque #1169 for $400 made out to a supplier was mailed, but not
yet received by the bank.
. Cheque #1183 for $270 to a supplier was incorrectly
posted by Nittany as $720 in the books.
∙
The bank...
E5-8 Prepare bank reconciliation and adjustments. The following information pertains to Lance Company. 1. Cash balance...
E5-8 Prepare bank
reconciliation and adjustments.
The following information
pertains to Lance Company.
1.
Cash balance per bank, July 31, $7,328.
2.
July bank service charge not recorded by the
depositor $38.
3.
Cash balance per books, July 31, $7,364.
4.
Deposits in transit, July 31, $2,700.
5.
$2,016 collected for Lance Company in July by the
bank through electronic funds transfer.
The collection has not been recorded by Lance
Company.
6.
Outstanding checks, July 31, $686.
Instructions
(a)
Prepare...
Using the following information to prepare a bank reconciliation for XYZ Co. for May 31: (a)...
Using the following information to prepare a bank reconciliation
for XYZ Co. for May 31:
(a)
The bank statement balance is $3,936.
(b)
The cash account balance is $4,194.
(c)
Outstanding checks amounted to $465.
(d)
Deposits in transit are $655.
(e)
The bank service charge is $50.
(f)
A check for $97 for supplies was recorded as $79 in the
ledger.
The following information should be used to prepare a bank reconciliation for KTZFIG Sales and Consulting...
The following information should be used to prepare a bank
reconciliation for KTZFIG Sales and Consulting as of June 30.
Prepare the reconciliation on the Bank Reconciliation tab. On June
30, 2018, KTZFIG Sales and Consulting Co. had a cash balance in the
ledger of $241,768. The June statement from Michigan State Bank
showed a balance of $244,573 on June 30, 2018. The following facts
regarding banking and cash activities are available. The bank
service charge for June was $70....
Use the Following Information to Answer the Questions Below to prepare the Bank Reconciliation 1) If...
Use the Following Information to Answer the Questions
Below to prepare the Bank Reconciliation
1) If Any Differences or Errors are found, Assume that
Our Business made the mistake and the BANK records are
accurate.
2) The Following Items were Included on the Bank
Statement from the Schwab Bank for the Month as
Follows;
Ending Bank Balance at January 31 was
$69,000.
Monthly Bank Fees of $1,500
NSF Check from Customer H.Clinton for
$11,000
Interest Earned During the month was...
Prepare a bank reconciliation for Grace, Inc., as of January 31, from the following information: (a.)...
Prepare a bank reconciliation for Grace, Inc., as of January 31,
from the following information:
(a.) The January 31 cash balance in the general ledger is
$5,088.
(b.) The January 31 balance shown on the bank statement is
$4,544.
(c.) Checks issued but not returned with the bank statement were
No. 435 for $452 and No. 448 for $182.
(d.) A deposit made on January 31 for $1,280 was included in the
general ledger balance but not in the bank...
Prepare a bank reconciliation at November 30 List items that increase balance as per bank &...
Prepare a bank reconciliation at November 30 List
items that increase balance as per bank & books
first
The bank portion of last month’s bank reconciliation for Crane
Limited at October 31 is shown here:
CRANE
LIMITED
Bank Reconciliation
October 31
Cash balance per bank
$24,920
Add: Deposits in transit
2,972
27,892
Less: Outstanding cheques
#2472
$1,430
#2473
1,600
#2474
1,038
4,068
Reconciled cash balance
$23,824
The reconciled cash balance per bank agreed with the reconciled
cash balance per books...
Bank Reconciliation The following information is available to assist you in preparing a bank reconciliation for...
Bank Reconciliation
The following information is available to assist you in
preparing a bank reconciliation for Calico Corners on May 31:
The balance on the May 31 bank statement is $8,432.11.
Not included on the bank statement is a $1,250 deposit made by
Calico Corners late on May 31.
A comparison between the canceled checks returned with the bank
statement and the company records indicated that the following
checks are outstanding at May 31:
No. 123
$23.40
No. 127
145.00...
Dexter Company's bank reconciliation shows an adjusted cash balance of $5,398.80. The following items also appear...
Dexter Company's bank reconciliation shows an adjusted cash
balance of $5,398.80. The following items also appear on the
reconciliation:
NSF check
$182.16
Deposit in transit
357.68
Interest earned
61.24
Outstanding checks
525.43
Bank service charges
75.00
Required:
1. Determine the balance on the bank statement
prior to adjustment. Round your answer to the nearest cent.
$
2. Determine the balance on the books prior to
adjustment. Round your answer to the nearest cent.
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