prepare a bank reconciliation for pizza, inc as of june 30 fromthe following information; (a) The june 30 balance show on the bankstatement is $2,888 (b) outstanding checks at june 30 totaled $ 175(C) a deposit of $212 made on june 30 was not included in thebalance shown on the bank statement. (D) The bank statement containan adjustment of $ 204 for a note receivable collected by the bankon behalf of Pizza, INC (191 principal and 13 intrest. (E) A bankcharge of $ 17 was made to the account during june. Although thecompany was expecting a charge, the amount was not shown until thebank statement arrived (F) The bank erroneously chargea $170 check of cheese, Inc, again the Pizza, Inc bank account. (G)The june balance in the general ledger cash account beforereconciliation is $ 3,013 (H) The bank statement included a noticethat a customer check for $86 that had been depositedon june 14 hadbeen returned NSF. Required: 1. prepare a bank reconciliation forSHOW ME, Inc as of june 30. ( 2) Prepare the appropriate adjustingentry(ies) or show the reconciliing items in a horizontal model,for SHOW ME ,inc relate to the bank reconciliation.
prepare a bank reconciliation for pizza, inc as of june 30 fromthe following information; (a) The june 30 balance show on the bankstatement is $2,888 (b) outstanding checks at june 30 totaled $ 175(C) a deposit of $212 made on june 30 was not included in thebalance shown on the bank statement. (D) The bank statement containan adjustment of $ 204 for a note receivable collected by the bankon behalf of Pizza, INC (191 principal and 13 intrest. (E) A bankcharge of $ 17 was made to the account during june. Although thecompany was expecting a charge, the amount was not shown until thebank statement arrived (F) The bank erroneously chargea $170 check of cheese, Inc, again the Pizza, Inc bank account. (G)The june balance in the general ledger cash account beforereconciliation is $ 3,013 (H) The bank statement included a noticethat a customer check for $86 that had been depositedon june 14 hadbeen returned NSF. Required: 1. prepare a bank reconciliation forSHOW ME, Inc as of june 30. ( 2) Prepare the appropriate adjustingentry(ies) or show the reconciliing items in a horizontal model,for SHOW ME ,inc relate to the bank reconciliation.
Related questions
The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $14,110. The bank statement indicated a balance of $16,730 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:
Checks outstanding totaled $6,020.
A deposit of $6,270, representing receipts of June 30, had been made too late to appear on the bank statement.
The bank collected $3,260 on a $3,100 note, including interest of $160.
A check for $880 returned with the statement had been incorrectly recorded by Pala Medical Co. as $800. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account.
A check drawn for $30 had been erroneously charged by the bank as $300.
Bank service charges for June amounted to $40.
1. Prepare a bank reconciliation.
| Pala Medical Co. | ||||||||||||||||||||||||||
| Bank Reconciliation | ||||||||||||||||||||||||||
| June 30, 20Y1 | ||||||||||||||||||||||||||
| Cash balance according to bank statement | $ | |||||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||||
| Deposit of June 30, not recorded by bank | $ | |||||||||||||||||||||||||
| Bank error in charging check as $300 instead of $30 | ||||||||||||||||||||||||||
| Outstanding checks | ||||||||||||||||||||||||||
| Total adjustments | ||||||||||||||||||||||||||
| Adjusted balance | $ | |||||||||||||||||||||||||
| Cash balance according to company's records | $ | |||||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||||
| Proceeds of note collected by bank, including $160 interest | $ | |||||||||||||||||||||||||
| Error in recording check. | ||||||||||||||||||||||||||
| Bank service charges | ||||||||||||||||||||||||||
| Total adjustments | ||||||||||||||||||||||||||
| Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank.
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The balance in Happ, Inc.âs general ledger Cash account was$14,300 at September 30, before reconciliation. The September 30balance shown in the bank statement was $12,830. Reconciling itemsincluded deposits in transit, $1,370; bank service charges, $155;NSF check written by a customer and returned with the bankstatement, $620; outstanding checks, $550; and interest credited tothe account during September but not recorded on the companyâsbooks, $125.
Required:
Prepare a bank reconciliation as of September 30 for Happ,Inc.
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Refer to the information given below:
The October 31 cash balance in the generalledger is $846.
The October 31 balance shown on the bankstatement is $391.
Checks issued but not returned with the bankstatement were No. 462 for $11 and No. 483 for $57.
A deposit made late on October 31 for $438 isincluded in the general ledger balance but not in the bankstatement balance.
Returned with the bank statement was a noticethat a customerâs check for $76 that was deposited on October 25had been returned because the customerâs account wasoverdrawn.
During a review of the checks that werereturned with the bank statement, it was noted that the amount ofCheck No. 471 was $65 but that in the companyâs records supportingthe general ledger balance, the check had been erroneously recordedas a payment of an account payable in the amount of $56.
Required:
Prepare a bank reconciliation as of October 31 from the aboveinformation. (Total theentries of the same account together, when entering in the bankreconciliation statement.)
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