At august 31, 2020, oakleys adjusted cash balance is. Accountingthe following information pertains to family video. Deduct any bank service fees, penalties, and nsf checks. Solved at july 31, ramirez company has the following. Assuming that the bank statement balance is correct, what is the correct cash account balance on march 31. If they are not equal, you must repeat the process until the balances are identical. The following information pertains to cullumber company. When a company maintains more than one checking account, it must reconcile each account separately with the balance on the bank statement for that account. Given the following information, determine the adjusted cash balance per books from the following information a.
Solved at august 31, felipe company has a cash balance. At august 31 oscar company has a cash balance per books of. The bank portion of the bank reconciliation for bogalusa company at october 31, 2017, is shown below. Wildhorse company bank reconciliation august 31, 2022 cash balance per bank statement 7388 7388 add deposits in transit 3760 11148 outstanding checks 709 i adjusted cash balance per bank 10439 cash balance per books 7424 add 4 collection on electronic funds transfer 3076 10500 bank service charge 61 i adjusted cash balance per books 10439 journalize the adjusting entries at august 31 on the. The company believes that all items involving cash have been included in the schedules. July bank service charge not recorded by the depositor. If the balance at bank, as per the cash book adjusted, it will be rs 12,050, thus. The following information pertains to worthy video company.
Prepare a bank reconciliation for thome company for october which reconciles the balance per books and the balance per bank to their adjusted correct balances. A deposit in transit is on the companys books, but it isnt on the bank statement. On 31st december 2004, the bank balance as per union bank statement and the state bank statement were rs 556 and rs 1,308 respectively. Be sure to complete the heading of the balance sheet. Determine the adjusted cash balance per bank at august 31, 2008. The adjusted balance per books must equal the cash balance printed on the bank statement. At august 31 kiner company has this bank information. Lisa beja is unable to reconcile the bank balance at january 31. Bank reconciliation statement adjustment of cash book. E76 tasha orin is unable to reconcile the bank balance at january 31.
Return of customers check not sufficient funds, 83020 1,800. Preparing a bank reconciliation financial accounting. Outstanding checks adjusted cash balance per bank cash balance per books add. Calculate the adjusted cash balance per books on may 31. The adjusted cash balance per books on june 30 is a.
For example, a retail store deposits its cash receipts of august 31 into the. Leng xiong is unable to reconcile the bank balance at january 31. After adjusting the balance per bank step 1 and after adjusting the balance per books step 2, the two adjusted amounts should be equal. Solved at august 31, pratt company has a cash balance per. Prepare the necessary adjusting entries for thome company at october. At august 31, sheridan company has a cash balance per books of. Based on the following information and the postclosing trial balance that follows, prepare a balance sheet in report form at december 31, 2016. Feb 23, 2012 the following information pertains to family video company. The adjusted cash balance per bank agreed with the cash balance per books at october 31. Collection of note receivable interest earned less. The direct writeoff method of accounting for uncollectible accounts a. Enter assets in the order in which they appear in the postclosing trial balance. The following information pertains to family video company.
Determine the adjusted cash balance per bank at july 31. Wileyplus homework help accounting assignments help. The collection has not been recorded by family, and no interest. Solved the bank portion of the bank reconciliation for. The adjusted book balance will rarely equal the adjusted. At august 31, sunland company has a cash balance per books. At august 31, pratt company has a cash balance per books of. The following information pertains to lance company. Tasha orin is unable to reconcile the bank balance at january 31. The balances should be the true, correct amount of cash as of the date of the bank reconciliation.
Wildhorse company bank reconciliation august 31, 2. The following information pertains to blossom company. Prepare the bank reconciliation for august 31, using the following form. Wildhorse company bank reconciliation august 31, 2022 cash balance per bank statement 7388 7388 add deposits in transit 3760 11148 outstanding checks 709 i adjusted cash balance per bank 10439 cash balance per books 7424 add 4 collection on electronic funds transfer 3076 10500 bank service charge 61 i adjusted cash balance per books 10439 journalize the adjusting entries at august. Study 197 debit and credits flashcards from janet s. Santos company gathered the following reconciling information in preparing its august bank reconciliation. Clark company developed the following reconciling information in preparing its september bank reconciliation. Sample bank reconciliation with amounts accountingcoach. Tasha orin is unable to reconcile the bank balance at. Determine the adjusted cash balance per the books on august 31.
The november bank statement showed the following checks and deposits. How much is the adjusted cash balance per books on august 31. The computation of the adjusted cash balance per books on august 31 is shown below. At july 31, ramirez company has the following bank information. At august 31 jones company has this bank information cash. The adjusted cash balance per books on august 31 is. The adjusted balance per books must equal the cash balance printed on the bank statement the cash balance on the bank statement must equal the cash balance in the general ledger before the bank reconciliation. Rodgers company gathered the following reconciling information in preparing its may bank reconciliation. Notes receivable and interest collected by bank 8,400. This will arrive at the adjusted company cash balance. As a result the company has successfully completed its bank reconciliation as of the august 31, 2019. Solved at august 31, pratt company has a cash balance.
Leng xiong is unable to reconcile the bank balance at. Debit and credits accounting 101 with collins at joliet. Determine the adjusted cash balance per bank at august 31, 2018. The following information pertains to sheridan company. Grant company gathered the following reconciling information. Nilson company gathered the following reconciling information in preparing its august bank reconciliation. On august 1, kim company accepted a 90day note receivable as payment for services provided to hsu company. At august 31, pratt company has a cash balance per books. Xyz company is closing its books and must prepare a bank reconciliation for the following items. Sri balan maintained two separate banking accounts, one with union bank and the other with state bank. The adjusted cash balance per books on october 31 is a.
At august 31, crane company has a cash balance per books of. The ending cash balance on the general ledger is reconciled to the adjusted bank statement balance. Nsf checks safety deposit box rent b prepare the adjusting entries at september 30, assuming 1 the nsf check was from a customer on account, and 2. The following information pertains to crane company. Determine the adjusted cash balance per books at august 31. Chapter 7 questions multiple choice harper college. Accountingthe following information pertains to family. After you adjust the balance per bank to be the true balance and after you adjust the. After reconciliation, the adjusted bank balance should match with the companys ending adjusted cash balance. Aug 21, 2015 e76 tasha orin is unable to reconcile the bank balance at january 31. Rodgers company gathered the following reconciling information.