The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash...

The bank statement for Allen Co. indicates a balance of $7,100.00 on June 30. The cash account balance had a balance of $3,975.00. Prepare bank reconciliation on the basis of the following information, and journalize the changes on the company’s cash balance.

Cash Receipts of $672 had been recorded on the company’s books as $654,
Deposits in transit not record by the bank, $400
Bank service charges, $20
Note collected by the bank and not yet notified to the company,$1,550 including $50 interest
NSF check from a customer, $223
Checks outstanding, $2,200

Bank Statement	Cash Balance – Company





Total	Total

Journal

Date	Accounts	Debit	Credit

*I don't know why the last graft got cut off, but to the left it says "Date".

Solutions

Expert Solution

ekkarill92 answered 2 years ago

Next > < Previous

Related Solutions

1. The bank statement for Green Iguana Co. indicates a balance of $8,000.00 on June 30,...

1. The bank statement for Green Iguana Co. indicates a balance of $8,000.00 on June 30, 2019. After the journals for June had been posted, the cash account for the Green Iguana had a balance of $3,675.00. 2. The following reconciling items: (a) Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324. (b) Deposits in transit not recorded by bank, $500.00. (c) Bank service charges for $25.00. (d) A note collected by bank, $2,850,...

Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK...

Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 7,450 Deposits during June $ 15,800 23,250 Checks cleared during June $ 16,550 6,700 Bank service charges 22 6,678 Balance, June 30 6,678 Cash (A) June 1 Balance 7,450 June Checks written 19,100 June Deposits 18,450 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank...

Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK...

Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 6,500 Deposits during June $ 16,200 22,700 Checks cleared during June $ 16,600 6,100 Bank service charges 40 6,060 Balance, June 30 6,060 Cash (A) June 1 Balance 6,500 June Checks written 19,000 June Deposits 18,100 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank...

Bentley Company’s June 30 bank statement and June ledger accounts for cash are summarized below: BANK...

Bentley Company’s June 30 bank statement and June ledger accounts for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 7,750 Deposits during June $ 15,950 23,700 Checks cleared during June $ 16,700 7,000 Bank service charges 27 6,973 Balance, June 30 6,973 Cash (A) June 1 Balance 7,750 June Checks written 19,250 June Deposits 18,400 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank...

The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash...

The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash balance per books had a balance of $390 on this date. The following information pertains to the bank transactions for the company. 1. Deposit of $840, representing cash receipts of July 31, did not appear on the bank statement. 2. Outstanding checks totaled $390. 3. Bank service charges for June amounted to $30. 4. The bank collected a note receivable for the company for...

On April 30, First Blade receives its bank statement. The bank statement balance of cash as...

On April 30, First Blade receives its bank statement. The bank statement balance of cash as of April 30 is $3,490. The company deposits its receipts in the bank and makes all payments by check. There is a $110 debit memo on the bank statement. This is for an NSF check written by one of the company’s customers, R. Jacobs for $100 plus a bank fee of $10. The April 29th deposit for $154 was recorded in the company’s cash...

30 june 2020 the balance of a entity bank statement was R500 overdrawn ,on the same...

30 june 2020 the balance of a entity bank statement was R500 overdrawn ,on the same date outstanding cheques amounted to R1000 and outstanding deposits to R3500 in the bank reconciliation statemnet. the balance as per bank account in the entities general ledger was ? a. R4000debit b.R5000 credit c.R2000 debit d.R3000 credit

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $93,115....

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $93,115. The bank statement indicated a balance of $125,800 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $30,060. b. A deposit of $19,240, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $24,075 on a...

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $84,457....

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $84,457. The bank statement indicated a balance of $127,190 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $33,310. b. A deposit of $17,610, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $28,248 on a...

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $89,775....

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $89,775. The bank statement indicated a balance of $125,160 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: A. Checks outstanding totaled $31,540. B. A deposit of $18,000, representing receipts of June 30, had been made too late to appear on the bank statement. C. The bank collected $24,075 on a...

Subjects