Balance per bank....... Balance per company records...... Bank service charges.. Deposit in transit..... NSF check..... Outstanding checks....... What is the adjusted balance on the bank reconciliation? $14,500 ..13,875 .75 ...3,750 800 .5,250

Balance per bank....... Balance per company records...... Bank service charges.. Deposit in transit..... NSF check..... Outstanding checks....... What is the adjusted balance on the bank reconciliation? $14,500 ..13,875 .75 ...3,750 800 .5,250

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 11PB: Leann Company received the following bank statement. Using the information from PB11 and PB12,...

See similar textbooks

Related questions

Q: it would be better to have an open-ended contract between the company and the government. Discuss…

A: An open-Ended contract is a contract in which the end date of the contract is not mentioned. There…

Q: resented below is the list of inventory items of ABC Corp at Dec 31, 20X1: a. Goods sold on…

A: Inventory: These are assets which are for sale in the ordinary course of business, but also…

Q: e of an office building B. Depreciation of vehicles C. Maintenance of machinery D. Sales discount…

A: Income statement records income and expenses. It shows the net income or loss of a company for a…

Q: Sheridan Corporation had net income of $470000 and paid dividends to common stockholders of $34780…

A: Formula: Payout ratio = ( Dividend / Net income ) x 100

Q: Of the following, which step is not a requirement during the accounting cycle? O a. An end-of-period…

A: Eight important steps of the accounting cycle: 1. Identify transaction. 2. Record Transaction 3.…

Q: A cement kiln with production capacity of 200 tons per day (24 hours) of clinker has at its burning…

A: Answer - Given, Particular Local Bricks Imported bricks Cost P30,000 P25,000 Life 5…

Q: Cardigan Corporation's results for the year ended December 31, 2022, include the following material…

A: The income statement is an essential part of the financial statements of the company. It is prepared…

Q: Given the following information, compute the current ratio Cash $ 120,000 Accounts receivable…

A: It shows investors and analysts how a company's balance sheet finances might be optimized to pay…

Q: Using ABC, compute the cost of each unit of Product A? The following data are available for X Corp:

A: Unit Cost=Total CostUnits Completed

Q: The new initiative being piloted is to produce goods in-house instead of buying them from wholesale…

A: Gross profit is the amount of money a company gets from selling selling of products and facilities…

Q: B. Another team member who is preparing the Budgeted Balance Sheet for the business for the same…

A: A budget is an estimate of revenue and expenses over a period of time future. These are designed for…

Q: AN Daniel and Darnell are considering offering a doggy daycare service. After some research, Daniel…

A: As per our protocol we provide solution to one question only but as you have asked multiple…

Q: Jul. 31 Accounts Payable-Southmont Co. Cash 18,900.00 18,900.00 ↓

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: More info A Investors would like to earn a 10% return on investment on the company's $270,000,000 of…

A: The operating income shows the income from the operating of the entity. it also indicates the…

Q: Raj Chemical a leading Chemical Manufacturing company based in Coimbatore, TamilNadu had reasonable…

A: Introduction: Budgeting is essential for running a profitable and effective business. The budget…

Q: Using the following information, prepare a bank reconciliation. • Bank balance: $7,651 • Book…

A: Introduction: BRS: To reconcile the difference between Bank book and cash book balances bank…

Q: Rogue Company leases a card-making machine to Gambit Inc. on January 1, 2017. The following…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

Q: culate sales

A: Current month Ending Inventory Will be the next month beginning inventory.

Q: During 2022, Bamboo Inc. decided to change from FIFO method of inventory valuation to the weighted…

A: The FIFO method implies that the inventory first purchased is to be sold first. The weighted…

Q: C Opti Systems needs 85,000 optical switches. By outsourcing them, Opti Systems can use its idl-…

A: In making or buy decision-making process the company should choose that option that provides lowest…

Q: A firm expects to sell 25,700 units of its product at $11.70 per unit and to incur variable costs…

A: Formula: Contribution margin = Sales price per unit - Variable cost per unit

Q: Let us assume that an investor can obtain an 80% LTV loan for a property valued at 500,000 at a 10%…

Q: Under the conceptual framework for international financial reporting a non-controlling interest fits…

A: When ever a company acquires another company's share of more than 50%, it obtaines control over it…

Q: For the coming year, Cleves Company anticipates a unit selling price of $92, a unit variable cost of…

A: Formula: Break even sales units = Fixed costs / Unit contribution margin

Q: A milling machine costing P500,000 has an estimated useful life of 5 years with a scarp value of…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: 34. ABC’s checkbook balance on December 31, 20x1 was P18,500. In addition, ABC held the following…

A: Bank Reconciliation Statement: It is the statement which is prepared to reconcile the balances of…

Q: 1. Compute for the ending inventory under the Weighted Average cost formula. 2. Compute for the cost…

A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…

Q: Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y5. The accounting cycle…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: ng is the retained earnings account for the year 2022 for Acadian Corp. ed earnings, January 1, 2022…

A: Statement of Retained earning is an essential part of the financial statement of the companies that…

Q: Livestone Company's net income last year was P371,000. The company has 100,000 shares of common…

A: Earning per share is calculated to determine the earnings available for the common stockholders from…

Q: If actual fixed overhead was P54,000 and there was a P1,300 unfavorable spending variance and a…

A: Spending variance is the difference between budgeted and overhead and actual overhead incurred.

Q: Following is the information relating to a Contract. amount $ 6,00,000. Contract price Raw materials…

Q: Expressed as a percentage, what would be a company's current ratio if net fixed assets are…

A: I think current liabilities figure is wrong, it should be 120000 instead of 12000. I am solving the…

Q: ! Required information [The following information applies to the questions displayed below.] Kiyara…

A: An individual, corporation, or organization that holds at least one share of a firm's equity stock…

Q: the owner likes to implement a new system of maintaining an inventory level will include a safety…

Q: 6. How much is the total amount of cash paid to retire the bonds on September 30 7. How much is the…

Q: Based on the above information, determine the cash received for interest during 2020.

A: Based on the above information, determine the cash received for interest during 2020. Answer -…

Q: What is the total balance of SHAREHOLDERS' EQUITY as of December 31, 2020?

A: Shareholder's equity is the sum total of all the classes of shares, share premium and retained…

Q: Soon after December 31, 2019, the auditor requested a depreciation schedule for trucks of Jarrett…

A: Depreciation Depreciation is the decrease or fall in the value of tangible assets until they reach…

Q: Persistence Inc. provided the following information at year end: Share capital 15,000,0000 Share…

A: The total shareholders' equity refers to the total amount in the statement of the financial position…

Q: Which of the following is not true regarding the income statement? O a. Miscellaneous expense is…

A: Yes, the income statement should be prepared before the stockholders' equity statement. Yes, revenue…

Q: Using a flexible budgeting approach, prepare a performance report for the polishing department for…

A: A flexible budget is prepared on the basis of the budgeted rate and on the basis of different…

Q: Which statement is false about reversing entries? O a. Reversing entries are required as part of the…

A: The adjustment entries are prepared at year end to adjust the revenue and expenses of the period.…

Q: What is Richard's net pay for the week if he earns $1,200? (Use Table 9.1 and Table 9.2). (Round…

A: Introduction: Net pay is the amount they receive after all payroll taxes have been reduced from…

Q: Carrefour Company's gross profit is OMR 550,000. The other balances are: Insurance OMR 70,000, Rent…

A: In the context of the given question, we are required to compute the net income before taxes. we can…

Q: ASG Corporation has the following data in their accounting books Sales-P1,000,000 Cost of…

A: Introduction: Income statement: All revenues and expenses are to be shown in Income statement. It…

Q: Sheridan Corporation had net income of $470000 and paid dividends to common stockholders of $34780…

A: There are two methods of calculation of payout ratios 1) outstanding share method (DPS/EPS) *100 2)…

Q: One of the laboratories of the College of Engineering bought a with a purchase value machine of…

A: Sum-of-the-years' digits is an accelerated method for determining an asset's expected depreciation…

Q: On January 1, 20x1, Company A issues bonds with face amount of P5,000,000 for P5,773,129. The bonds…

A: The journal entries are prepared to record day to day transactions of the business. The bonds are…

Q: 32. On April 1, 20x1, ABC received a P1,500,000, 10%, 3-year note receivable in exchange for a…

Question

Answer with in a hour for upvotes?

Balance per bank...
Balance per company records....
Bank service charges.
Deposit in transit..
NSF check...
Outstanding checks....
What is the adjusted balance on the bank reconciliation?
. $14,500
..13,875
75
..3,750
800
5,250

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Introduction

VIEW

Preparation of Bank Reconciliation Statement and Conclusion

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance: $5,577 Deposits in transit: $1,546 Outstanding checks: $956 Interest income: $56 NSF check: $456
Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35
Domingo Company received the following bank statement. Using PA9, prepare the bank reconciliation.
Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
Leann Company received the following bank statement. Using the information from PB11 and PB12, prepare the bank reconciliation.
Which of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transit
Hajun Company received the following bank statement. Using the information from PB9 and PB10, prepare the bank reconciliation.
The bank reconciliation shows the following adjustments. Deposits in transit: $526 Outstanding checks: $328 Bank charges: $55 NSF checks: $69 Prepare the correcting journal entry.
The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes receivable collected by bank: $1,000; interest: $20 Outstanding checks: $569 Error by bank: $300 Bank charges: $30 Prepare the correcting journal entry.
Prepare the journal entry to reconcile the bank statement in EB7.
E7B. Prepare a bank reconciliation from the following information: a. Balance per bank statement as of May 31, $17,755.44 b. Balance per books as of May 31, $12,211.94 c. Deposits in transit, $2,254.81 d. Outstanding checks, $7,819.16 e. Bank service charge, $20.85
Prepare a bank reconciliation from the following information:a. Balance per bank statement as of May 31, $17,755.44b. Balance per books as of May 31, $12,211.94c. Deposits in transit, $2,254.81d. Outstanding checks, $7,819.16e. Bank service charge, $20.85