Question
In: Accounting
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Azalea...
Bank Reconciliation
The following data were gathered to use in reconciling the bank account of Azalea Company:
| Balance per bank | $ 17,300 |
| Balance per company records | 8,170 |
| Bank service charges | 20 |
| Deposit in transit | 3,050 |
| Note collected by bank with $150 interest | 4,750 |
| Outstanding checks | 7,450 |
a. What is the adjusted balance on the bank
reconciliation?
$
b. Journalize any necessary entries for Azalea Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative...
Bank Reconciliation The following data were accumulated for use
in reconciling the bank account of Creative Design Co. for August
20Y6: Cash balance according to the company's records at August 31,
$20,300. Cash balance according to the bank statement at August 31,
$21,600. Checks outstanding, $4,120. Deposit in transit, not
recorded by bank, $3,310. A check for $170 in payment of an account
was erroneously recorded in the check register as $710. Bank debit
memo for service charges, $50. a....
Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative...
Bank Reconciliation
The following data were accumulated for use in reconciling the
bank account of Creative Design Co. for August 20Y6:
Cash balance according to the company's records at August 31,
$20,180.
Cash balance according to the bank statement at August 31,
$21,020.
Checks outstanding, $4,100.
Deposit in transit, not recorded by bank, $3,290.
A check for $340 in payment of an account was erroneously
recorded in the check register as $430.
Bank debit memo for service charges, $60.
a....
Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers...
Bank Reconciliation The following data were accumulated for use
in reconciling the bank account of Mathers Co. for July: Cash
balance according to the company's records at July 31 $22,130. Cash
balance according to the bank statement at July 31, $23,520. Checks
outstanding, $4,490. Deposit in transit, not recorded by bank,
$3,610. A check for $170 in payment of an account was erroneously
recorded in the check register as $710. Bank debit memo for service
charges, $30. a. Prepare a...
Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative...
Bank Reconciliation
The following data were accumulated for use in reconciling the
bank account of Creative Design Co. for August 20Y6:
Cash balance according to the company's records at August 31,
$14,900.
Cash balance according to the bank statement at August 31,
$15,900.
Checks outstanding, $3,020.
Deposit in transit, not recorded by bank, $2,430.
A check for $270 in payment of an account was erroneously
recorded in the check register as $720.
Bank debit memo for service charges, $40.
a....
The following data were accumulated for use in reconciling the bank account of Creative Design Co....
The following data were accumulated for use in reconciling the
bank account of Creative Design Co. for August 20Y6:
1.
Cash balance according to the company’s records at August 31,
$20,014.
2.
Cash balance according to the bank statement at August 31,
$28,514.
3.
Checks outstanding, $14,232.
4.
Deposit in transit, not recorded by bank, $6,214.
5.
A check for $55 in payment of an account was erroneously
recorded in the check register as $550.
6.
Bank debit memo for...
Chapter 7 ex 07-18 The following data were accumulated for use in reconciling the bank account...
Chapter 7 ex 07-18
The following data were accumulated for use in reconciling the
bank account of Creative Design Co. for August 20Y6:
1.
Cash balance
according to the company’s records at August 31, $24,556.
2.
Cash balance
according to the bank statement at August 31, $31,856.
3.
Checks outstanding,
$13,280.
4.
Deposit in transit,
not recorded by bank, $6,392.
5.
A check for $48 in
payment of an account was erroneously recorded in the check
register as $480.
6....
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation. Calculate the adjusted...
Gunnar Company gathered the following reconciling information in
preparing its September bank reconciliation. Calculate the adjusted
cash balance per books on September 30.
Cash balance per books, September 30
$ 3,181
Deposits in transit
421
Notes receivable and interest collected by bank
888
Bank charge for check printing
29
Outstanding checks
1,347
NSF check
144
a.$2,970
b.$3,896
c.$2,255
d.$3,114
Bank Reconciliation
The following data were accumulated for use in reconciling the
bank account of Mathers Co. for July:
Cash balance...
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
Which of the following is a reconciling item on the bank side of a bank reconciliation?...
Which of the following is a reconciling item on the bank side of
a bank reconciliation?
1.
Cancelled cheques
2.
Outstanding cheques
3.
both outstanding cheques and NSF cheques
4.
NSF cheques
A cheque returned by a bank because the issuer's cash account
balance could not cover the cheque is called:
1.
a blank cheque
2.
a certified cheque
3.
a NSF cheque
4.
an outstanding cheque
On 1 January, Bochao Properties establishes a petty cash fund
for $200.
On...
1. Kreiger Corporation developed the following reconciling information in preparing its July bank reconciliation: Bank balance...
1. Kreiger Corporation developed the following reconciling
information in preparing its July bank reconciliation:
Bank balance before
reconciliation
$23,000
Note receivable collected by
bank
7,500
Outstanding
checks
15,000
Deposits in
transit
8,000
Bank service
charge
100
NSF
check
1,800
Determine the cash balance per books (before adjustments) for
Kreiger.
2. Kendall Corporation had a 1/1/19 balance in the Allowance for
Doubtful Accounts of $18,000. During 2019, it wrote off $11,500 of
accounts and collected...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- You are tasked with assessing the health department’s intervention program in preventing recurrence of acute alcohol...
- Compare the MOSFET, JFET , and BJT and identify the reasons these devices behave differently. What...
- How would you use SAS Enterprise Miner to create a neural network model of your example?
- Explain the use of neural networking modeling in predictive analytics.
- Current Market Mix of Netflix, as detail as possible, please.
- This is all one question, thank you so much in advance! You must evaluate a proposal...
- X Company is considering the purchase of a new processor that costs $200,000. Shipping and setup...
ADVERTISEMENT