Question

Using the code letters below, indicate how each of the items listed would be handled in...

Using the code letters below, indicate how each of the items listed would be handled in preparing a bank reconciliation for the month of May for Pinar dairy Company. (8 points)

Code

A Add to cash balance per books

B Deduct from cash balance per books

C Add to cash balance per bank

D Deduct from cash balance per bank

E Does not affect the bank reconciliation


A Check of $591 was received and deposited in the company’s bank account, but was incorrectly entered in the cash receipts journal as a receipt on account for $519.


Answer 1
Choose...
Checks written in May but still outstanding $11,200.


Answer 2
Choose...
Bank service charge for May was $50.

Answer 3
Choose...
The bank collected a note receivable for the company for $4,000 plus $150 interest revenue.

Answer 4
Choose...
Deposits of May 30 and 31 not yet recorded by bank $7,200 and still in transit


Answer 5
Choose...
A check of $600 from Gloria to Aljunaidi was incorrectly charged by the bank to Pinar company.

Answer 6
Choose...
NSF check of customer returned by bank $700.

Answer 7
Choose...
The bank statement include a debit memorandum of $80 for printing the additional company checks.

Please Solve As soon as
Solve quickly I get you two UPVOTE directly
Thank's
Abdul-Rahim Taysir

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following is a list of items that could cause the book balance for cash of...
The following is a list of items that could cause the book balance for cash of Tamarisk Services to differ from Tamarisk’s bank statement balance from RBC (Royal Bank). Identify if the item should be included as a reconciling item in Tamarisk’s bank reconciliation. Indicate if a journal entry will be needed to correct any of the account for Tamarisk.                                                                                                                         Type Of Reconciliation            Journal                                                                                                                                                                        Entry A deposit of collections on account from customers was made, but the...
The Fitzgerald Company maintains a checking account at the Bank of the North. The bank provides...
The Fitzgerald Company maintains a checking account at the Bank of the North. The bank provides a bank statement along with canceled checks on the last day of each month. The October 31, 2018, bank statement included the following information: Balance, October 1, 2018 $ 32,760 Deposits 89,500 Checks processed (78,700 ) Service charges (420 ) NSF checks (1,670 ) Monthly loan payment deducted directly by bank from account (includes $470 in interest) (4,170 ) Balance, October 31, 2018 $...
Bank Reconciliation A bank reconciliation explains the causes for any differences between a company's cash balance...
Bank Reconciliation A bank reconciliation explains the causes for any differences between a company's cash balance on its bank statement and its cash balance on the books (that is, in the ledger. ) Allez Company's monthly bank statement shows an account balance of $6127.23. The cash balance in its ledger is $5301.05. A thorough bank reconciliation investigation yields the following information: The bank erroneously deducted $346.70 from the company's account when the actual amount of a check written by the...
From among the choices below, select the proper treatment for each of the following items when...
From among the choices below, select the proper treatment for each of the following items when reconciling a bank account: ADD TO BALANCE PER BANK STATEMENT DEDUCT FROM BALANCE PER BANK STATEMENT ADD TO BALANCE PER DEPOSITOR’S RECORDS DEDUCT FROM BALANCE PER DEPOSITOR’S RECORDS 1. OUTSTANDING CHECKS 2. CHECK DRAWN FOR $1000 IS CHARGED AS $100 3. BANK SERVICE CHARGES 4. A CUSTOMER’S CHECK IS RETURNED FOR LACK OF SUFFICIENT FUNDS 5. DEPOSIT IN TRANSIT NOT RECORDED BY BANK
Coronado Plastics Company deposits all receipts and makes all payments by check. The following information is...
Coronado Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $48,760 Add: Deposits in transit 3,864 Deduct: Outstanding checks (6,992 ) Balance per books $45,632 Month of April Results Per Bank Per Books Balance April 30 $51,520 $50,600 April deposits 22,080 25,760 April checks 20,424 18,400 April note collected (not included in April deposits) 5,520 -0- April bank service charge 62 -0-...
Question 18 Waterway Plastics Company deposits all receipts and makes all payments by check. The following...
Question 18 Waterway Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $67,840 Add: Deposits in transit 5,376 Deduct: Outstanding checks (9,728 ) Balance per books $63,488 Month of April Results Per Bank Per Books Balance April 30 $71,680 $70,400 April deposits 30,720 35,840 April checks 28,416 25,600 April note collected (not included in April deposits) 7,680 -0- April bank service charge...
Meredith Company gathered the following reconciling information in preparing its May bank reconciliation: Cash balance per...
Meredith Company gathered the following reconciling information in preparing its May bank reconciliation: Cash balance per books, 5/31 $3,414 Deposits in transit 113 Notes receivable and interest collected by bank 910 Bank charge for check printing 37 Outstanding checks 1,480 NSF check 169 Find the adjusted cash balance per books on May 31. Select the correct answer. $2,788 $1,023 $4,118 $2,047
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at June 30: 1 Balance per Cash account, June 30. $14,111.60 2 Balance per bank statement, June 30. 14,600.50 3 Deposits not reflected on bank statement. 1,450 4 Outstanding checks, June 30. 2,520.90 5 Service charge on bank statement not recorded in books. 22.0 6 Error by bank-Yertel Company check charged on Young Company's bank statement. 1,100 7 Check for advertising expense 500 incorrectly recorded in...
From among the choices below, select the proper treatment for each of the following items when...
From among the choices below, select the proper treatment for each of the following items when reconciling a bank account: ADD TO BALANCE PER BANK STATEMENT DEDUCT FROM BALANCE PER BANK STATEMENT ADD TO BALANCE PER DEPOSITOR’S RECORDS DEDUCT FROM BALANCE PER DEPOSITOR’S RECORDS a b c d   1. OUTSTANDING CHECKS a b c d   2. CHECK DRAWN FOR $1000 IS CHARGED AS $100 a b c d   3.  BANK SERVICE CHARGES a b c d    4.  A CUSTOMER’S CHECK IS RETURNED FOR LACK OF SUFFICIENT...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August...
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records $6,340 Add: Outstanding checks $3,040   Error by Chesner Co. in recording Check     No. 1056 as $820 instead of $280 540   Note for $10,000 collected by bank, including interest 10,400 13,980 $20,320 Deduct: Deposit in transit on August 31 $6,450       Bank service charges 50 6,500 Cash balance according to bank statement $13,820 a. From the data in this...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT