A table for a monthly bank reconciliation dated September 30 is given below. For each item...

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.)

Bank Balance Book Balance Shown or Not Shown on Reconciliation 1. The company hired a new treasurer. 2. Check written by anot

Expert Solution

		Bank Balance	Book Balance	Shown or Not Shown on Reconciliation
1	The company hired a new treasurer	NA	NA	NA	Not Shown
2	Check written by another depositor but charged against this company's account.	Added	NA		Shown
3	Bank service charge.	NA	Subtracted	Cr.	Shown
4	NSF check shown on bank statement but not yet recorded by company.	NA	Subtracted	Cr.	Shown
5	Bank fees for check printing are not yet recorded by the company.	NA	Subtracted	Cr.	Shown
6	Interest earned on the account.	NA	Added	Dr.	Shown
7	Checks outstanding on August 31 that cleared the bank in September.	NA	NA		Not Shown
8	Check written but not recorded	NA	Subtracted	Cr.	Shown
9	A note receivable is collected by the bank for the company but not yet recorded by the company.	NA	Added	Dr.	Shown
10	Checks written and mailed to payees on October 2.	NA	NA	NA	Not Shown
11	Checks written and mailed to payees on Sep 30	Subtracted	NA	NA	Shown
12	Deposit made on September 30 after the bank closed.	Added	NA	NA	Shown

ekkarill92 answered 2 years ago

A table for a monthly bank reconciliation dated September 30 isgiven below. For each item...

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation.(Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.)

Instructions a. Prepare a bank reconciliation dated June 30, 2020, proceeding to a correct cash balance....

Instructions a. Prepare a bank reconciliation dated June 30, 2020, proceeding to a correct cash balance. b. Prepare any entries necessary to make the books correct and complete. *P7.14 (LO 6) (Bank Reconciliation and Adjusting Entries) Presented below is information related to Haselhof Inc. Balance per books at October 31, $41,847.85; receipts $173,523.91; disbursements $164,893.54. Balance per bank statement November 30, $56,274.20. The following checks were outstanding at November 30. 1224 $1,635.29 1230 2,468.30 1232 2,125.15 1233 482.17 Included with...

GENERAL COMPANY Bank Reconciliation: 1st National Bank September 30, 2018 1 Balance per bank 28,375 2...

GENERAL COMPANY Bank Reconciliation: 1st National Bank September 30, 2018 1 Balance per bank 28,375 2 Deposits in transit 29-Sep 4,500 30-Sep 1,525 6,025 34,400 3 Outstanding Check 31-Aug 2,200 26-Sep 675 27-Sep 850 29-Sep 2,500 30-Sep 7,225 (13,450) 20,950 4 Customer note collected by the bank -3,000 5 Error: Check #1282, written on 26-Sep for 270 was erroneously charged by the bank as $720; bank was notified 2-Oct. 450 6 Balance per books 18,400 Assume these facts: • The...

QUESTION 2 The bank reconciliation statement on 30 September 2018 included the following: Outstanding cheques...

QUESTION 2 The bank reconciliation statement on 30 September 2018 included the following: Outstanding cheques Cheques not yet presented for payment No. 148 (Dated 10 November 2017) No. 358 (Dated 10 October 2018) No. 400 (Dated 15 October 2018) Debits R 17.00 R 360.00 R 956.50 Credits R1 255.00 The bank statement on 31 October 2018 showed a favourable balance of R25 427.50. The general ledger account on the 1 October 2018 showed a debit balance of R25...

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...

Bank Reconciliation The following bank reconciliation was prepared as of June 30, 20Y7: Poway Co. Bank...

Bank Reconciliation The following bank reconciliation was prepared as of June 30, 20Y7: Poway Co. Bank Reconciliation For the Month Ended June 30, 20Y7 Cash balance according to bank statement $16,185 Adjustments: Outstanding Check No.1067 $575 Outstanding Check No.1106 470 Outstanding Check No.1110 1,050 Outstanding Check No.1113 910 Deposit of June 30 not recorded by bank (6,600) Total adjustments (3,595) Adjusted balance $12,590 Cash balance according to company’s records $8,985 Adjustments: Proceeds of note collected by bank: Face value $6,000...

Q. For each bank reconciliation item, describe the appropriate action an accountant should take. If a...

Q. For each bank reconciliation item, describe the appropriate action an accountant should take. If a journal entry is needed, please make one (assume a date of July 31st). a) Of three cheques written in July (no. 15 for $35.00, no. 16 for $49.32, and no. 17 for $231.09), two cheques (no. 15 and no. 17) are outstanding. b) A customer visited the company bank and deposited $300 to settle a bill from last month. c) The bank charged account...

Prepare a bank reconciliation for Blue Moon Company dated June 30, 2011 3.) Prepare any necessary...

Prepare a bank reconciliation for Blue Moon Company dated June 30, 2011 3.) Prepare any necessary journal entries based on the following data regarding the bank reconciliation prepared by Bootlegger Company on February 28, 2011. a) Outstanding cheques amount to $650. b) The service charges for February amount to $40. c) Cheque #665 for $3,525 for the cash purchase of office equipment was erroneously recorded by the bookkeeper as $3,552 d) The bank erroneously credited Bootlegger Company’s account for $300...

The bank portion of the bank reconciliation for Sheridan Company at November 30, 2020, was as...

The bank portion of the bank reconciliation for Sheridan Company at November 30, 2020, was as follows. Sheridan COMPANY Bank Reconciliation November 30, 2020 Cash balance per bank $14,677.90 Add: Deposits in transit 2,530.20 17,208.10 Less: Outstanding checks Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,052.50 6,304.30 Adjusted cash balance per bank $10,903.80 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement...

The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as...

The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows. LANGER COMPANY Bank Reconciliation November 30, 2017 Cash balance per bank $14,807.90 Add: Deposits in transit 2,530.20 17,338.10 Less: Outstanding checks Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,057.30 6,309.10 Adjusted cash balance per bank $11,029.00 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement...

Question