A company's general ledger shows a cash balance of $4,590. Comparing the company's cash records with...

A company's general ledger shows a cash balance of $4,590. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,850, bank service fees of $120, and interest earned of $27. Calculate the correct balance of cash..

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ekkarill92 answered 2 years ago

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...

Riverbed Spa shows a general ledger balance for the Cash account of $5,227.95 on June 30...

Riverbed Spa shows a general ledger balance for the Cash account of $5,227.95 on June 30 and the bank statement as of that date indicates a balance of $4,450.00. When the statement was compared with the cash records, the following facts were determined: 1. There were bank service charges for June of $34.00. 2. A bank memo stated that Bao Dai’s note for $900 and interest of $46.00 had been collected on June 29, and the bank had charged $6.30...

Novak Spa shows a general ledger balance for the Cash account of $3,974.35 on June 30...

Novak Spa shows a general ledger balance for the Cash account of $3,974.35 on June 30 and the bank statement as of that date indicates a balance of $4,145.00. When the statement was compared with the cash records, the following facts were determined: 1. There were bank service charges for June of $33.00. 2. A bank memo stated that Bao Dai’s note for $897.00 and interest of $42.00 had been collected on June 29, and the bank had charged $7.50...

On May 31st, Company O's General ledger shows a cash balance of $5123. The May 31...

On May 31st, Company O's General ledger shows a cash balance of $5123. The May 31 bank statement shows a balance of $4905. Other information is available as follows: 1. A May 31 deposit of $300 does not appear on the bank statement; but a $3 service charge does. 2. A customer's $40 insufficient funds check has been returned with the bank statement. 3. Outstanding checks of $10, 15 and $100 are identified on May What is the correct cash...

On November 30th, FRI Company’s general ledger shows a checking account balance of $12,000. The company’s cash...

On November 30th, FRI Company’s general ledger shows a checking account balance of $12,000. The company’s cash receipts for the month which haven’t cleared the bank yet are $5,500 and checks written by the company this month which have not cleared the bank total $9,000. While comparing the bank statement with the general ledger FRI determined the bank overstated a deposit the company made on November 28th for $100. The bank statement also reported service fees of $50, interest FRI earned on...

The Cash account in the general ledger of Lyco Corporation showed a balance of $21,749 at...

The Cash account in the general ledger of Lyco Corporation showed a balance of $21,749 at December 31 (but prior to performing a bank reconciliation). The company's bank statement showed a balance of $22,000 at the same date. The only reconciling items consisted of: (1) a $5,000 deposit in transit, (2) a bank service charge of $200, (3) outstanding checks totaling $9,000, (4) a $3,000 check marked "NSF" from Susque Company, one of Lyco's customers, and (5) a check written...

The October 31 cash balance in the general ledger is $825. The October 31 balance shown...

The October 31 cash balance in the general ledger is $825. The October 31 balance shown on the bank statement is $375. Checks issued but not returned with the bank statement were No. 462 for $21 and No. 483 for $43. A deposit made late on October 31 for $438 is included in the general ledger balance but not in the bank statement balance. Returned with the bank statement was a notice that a customer's check for $67 that was...

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