Question
In: Accounting
Whitney Company received its February bank statement, which included a memo indicating that the check of Colon Company for $870
Whitney Company received its February bank statement, which included a memo indicating that the check of Colon Company for $870 had been returned as “NSF” Whitney's bank reconciliation should list this check as a(n):
Deduction from balance per general ledger
Deduction from balance per bank statement
None of the above
Addition to balance per general ledger
Addition to balance per bank statement
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Company received a bank statement showing a balance of $310,000. Reconciling items included outstanding checks of...
Company received a bank statement showing a balance of $310,000.
Reconciling items included outstanding checks of $4,800 and a
deposit in transit of $5,000. What is the company’s adjusted bank
balance?
310 k
310,200
309,800
314,800
Daisy Company received a bank statement for February, as follows: Date Checks Deposits Balance Feb. 1...
Daisy Company received a bank statement for February, as
follows:
Date
Checks
Deposits
Balance
Feb.
1
$ 4,524.80
7
$ 2,700.33
$8,642.61
9
3,484.81
14
6.00
SC
460.00
CM
16
274.09
21
4,133.60
3,385.49
23
69.69
NSF
28
$ 6,344.38
SC = Service Charge; NSF - Check Returned; CM = Credit Memo; DM
= Debit Memo
The receipt of $460 on February 14 was for a $445 note collected
by the bank, plus $20 current interest, minus a $5 service...
McDowell’s Company received their monthly bank statement for May 2016. An analysis of the bank statement...
McDowell’s Company received their monthly bank statement for May
2016. An analysis of the bank statement and their cash account
revealed the following facts. Prepare the bank reconciliation for
McDowell’s Company for May:
1. The bank
statement has a balance of $6,925.
2. The cash account
has a balance of $4,622.
3. A deposit in
transit made on April 30th was $4,200.
4. Outstanding
checks totaled $5,800.
5. The bank
collected a note of $1,200, plus...
Infinity Emporium Company received the monthly statement for its bank account, showing a balance of $66,744...
Infinity Emporium Company received the monthly statement for its
bank account, showing a balance of $66,744 on August 31. The
balance in the Cash account in the company's accounting system at
that date was $71,952. The company's accountant reviewed the
statement and the company's accounting records and noted the
following.
1.After comparing the cheques written by the
company with those deducted from the bank account in August, the
accountant determined that all six cheques (totalling $6,180) that
had been outstanding...
Friends, Inc. received its bank statement for the month ended 12/31/18. The bank statement showed a...
Friends, Inc. received its bank
statement for the month ended 12/31/18. The bank statement showed a
balance of $10,102.87. The company’s general ledger showed a
balance of $8,656.11.
The following items were discovered
when comparing the bank statement to the books of the company:
The bank charged check processing fees of $25.00.
There was a $1,825.52 automatic withdrawal to pay the mortgage.
Of the $1,825.52, $1,572.86 was for interest which had
been accrued.
The bank charged Friends, Inc. account $250.00...
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...
Roper Electronics received its bank statement from Northern Regional Bank for the month of August with...
Roper Electronics received its bank statement from Northern
Regional Bank for the month of August with a balance of $11,740.00
as of August 31.
Northern Regional Bank also collected a $5,000.00 notes
receivable from Roper Electronic's customer on August 1. The
customer owed interest on the receivable for the period March 1 to
August 1 at 12% annual interest. Northern Regional Bank charged a
$35.00 fee for the collection service.The bank statement reveals a
bank service charge of $20.00. A...
Roper Electronics received its bank statement for the month of August with an ending balance of...
Roper Electronics received its bank statement for the month of
August with an ending balance of $11,740. Roper determined that
Check No. 613 for $155 and Check No. 601 for $420 were both
outstanding. Also, a $6,900 deposit for August 30 was in transit as
of the end of the month. Northern Regional Bank also collected a
$5,000 notes receivable on August 1 that was issued March 1.
Accrued interest is $250. Northern Regional Bank charged a $35 fee
for...
Roper Electronics received its bank statement for the month of August with an ending balance of...
Roper Electronics received its bank statement for the month of
August with an ending balance of $11,740. Roper determined that
Check No. 613 for $155 and Check No. 601 for $420 were both
outstanding. Also, a $6,900 deposit for August 30 was in transit as
of the end of the month. Northern Regional Bank also collected a
$5,000 notes receivable on August 1 that was issued March 1.
Accrued interest is $250. Northern Regional Bank charged a $35 fee
for...
On October 31 Larkspur Ltd. received its bank statement from Provincial Bank. It stated that Larkspur...
On October 31 Larkspur Ltd. received its bank statement from
Provincial Bank. It stated that Larkspur had a balance of $9,660 at
October 31. The company’s general ledger showed a cash balance of
$10,220 at that date. A comparison of the bank statement and the
accounting records revealed the following information:
●
Bank service charges for the month were $40.
●
The company had written and mailed out cheques with a value of
$1,530 that had not yet cleared the...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Can you show how to do this step by step using Matlab please. Write a function...
- Plaintiff died of gas asphyxiation when he entered a sewer tunnel without a mask to answer...
- Retail Co has a unique set of HR practices. Describe and evaluate how you think the...
- Discuss some of the ways artists experimented with new styles and techniques, and how these differed...
- What is the recurrence relation for T(n) = (n-1)T(n-1) + n?
- Q2: Specify any four difference between Client/Server computing and Peer-to-Peer computing. Which architecture used by Bitcoin...
- Assignment 5: Roman Numerals Assignment 5 You must create an application that takes two integer values,...
ADVERTISEMENT