how do you do the IF formula? 2021 Per statement22 Deposits outstanding23 Checks outstanding2425BankBalance:$16,200 Per general ledger$4,500 EFT for utilities($1,900) Note collectedInterest earnedSupplies purchasedService feeNSF checks$18.800 Company balance per reconciliationCompanyBalance:$13,400($1,400)$9,000$600($500)($100)($2,200)$18,800262728 Bank balance per reconciliation29302. Use a conditional statement to evaluate whether the reconciled balances are equal.31(Use cells A2 to B14 from the given information above to complete this question. Construct a conditional IF statement to return the word"Yes" if the reconciled bank balance equals the reconciled book balance, or "No" if it they are not equal. In your formula, use cell 828 for32 the reconciled bank balance and cell D28 for the reconciled book balance.)3334 Does the reconciled balance per bank equal the reconciled balance per books? Yes4

IF functionIt is one of the logical functionsIt check whether a condition is met, and returns one…

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how do you do the IF formula?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 15P: Comprehensive Receivables Problem Blackmon Corporations December 31, 2018, balance sheet disclosed...

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Information pertaining to 67 company appears belowBalance per ledger, July 31 P 650,000Balance per bank statement July 31 1.240.000Deposit in transit 280,000debit memo - service charges 10,000credit memo collection of notes receivables by bank of 67 company 300,000Oustanding checks ?check for purchase supplies was drawn for P60,000 but was recorded as 90,000 what is the amount of outstanding checks on July 31?
Description DEP Customer deposit INT Interest earned SF Service feesNOTE Note collected CHK Customer check NSF Nonsufficient fundsEFT Electronic funds transfer DC Debit card Additional information: The difference in the beginning balances in the company’s records and the bank statement relates to check number 530, which is outstanding as of June 30, 2024. The debit card transaction for the purchase of equipment on 7/19 is correctly processed by the bank. The EFT on July 26 in the bank statement relates to the purchase of office supplies. Required:2. Record the necessary cash adjustments.
9 The cash records and bank statement for the month of July for Ravine Incorporated are shown below. Cash Balance July 1, 2024 $7,110 Date 7/9 7/21 7/31 Cash Receipts $8,420 Cash Receipts Description Sales P.O. Box 123878 Gotebo, OK 73041 (580) 377-OKIE Account Holder: Date 7/10 7/22 7/31 Sales Sales Beginning Balance July 1, 2024 $7,700 Amount $2,560 3,140 2,720 $8,420 Ravine Incorporated 519 Main Street Gotebo, OK 73041 Deposits and Credits Amount $2,560 3,140 50 DEP DEP INT RAVINE INCORPORATED Cash Account Records July 1, 2024, to July 31, 2024 Description Date 7/7 7/12 7/19 7/22 7/30 Cash Disbursements $9,160 Deposits and Credits Number 3 Date 7/2 7/10 7/14 7/18 7/22 7/26 7/30 Description EFT EFT DC CHK number 531 CHK number 532 FIDELITY UNION You Can Bank On Us Total $5,750 Cash Disbursements Number 530 Memo Rent Salaries Equipment Utilities Advertising Account Number: Statement Date: Number 7 Withdrawals and Debits Amount $590 1,500 1,960 400 3,800 500 50 = Withdrawals and Debits…
The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date Checks Deposits Other Balance $ 48, 000 40, 380 67,830 53,930 ৪9,938 88,970 88,470 88,520 88,370 Dec. 1 $ 7,620 550 $28,000 13,900 6. 11 17 23 36, e00 26 960 30 19, 200 19,000 NSF* $300 31 Interest earned 50 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance Deposits Dec. 11 23 48, 000 28, e0e 36, eee Checks written during December: 7,620 550 30 13,900 960 19, e00 31 13,e00 150 19, 200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. 3. Prepare a bank reconciliation for December. STEWART COMPANY Bank Reconciliation At December 31 Bank Statement Company's Books Ending Balance Per Bank Statement Ending Balance Per Cash Account Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance
Balance, December 31, 2018 $3,340 ADD: Deposit in transit 100 3,440 LESS: Outstanding checks $400 400 Adjusted bank balance, December 31, 2018 $3,040 Book: Balance, December 31, 2018 $2,540 ADD: Bank collection $510 Interest revenue 20 530 3,070 LESS: Service charge $30 30 Adjusted book balance, December 31, 2018 $3,040
D Question 6 An entity reported the following data on December 31,2019: Cash in bank, net of bank overdraft of 100,000 1200,000 PCF, including unreplenished expenses of 10,000 50,000 Notes receivables 750,000 A/R net customers account with credit balances of 200K 2,000,000 Inventory, excluding unrecorded purchase of 300,000 on account in transit shipped FOB SP on 12/31/19 2500,000
The following information pertains to Cuay Corporation, whose deposits in transit totaled P49,000 at December 31, 2020: Cuay Corporation BANK RECONCILIATION November 30, 2020 P 435,000 Balance per bank statement Less: Outstanding checks Check No. 4321 Check No. 4329 Check No. 4340 P 6,000 15,000 1,700 4,675 27,375 P 407,625 16,200 P 423,825 Check No. 4341 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Payee Check No. Discount Cash Payable P 10,000 4,200 3,755 12,000 96,000 San Beda, Inc. Miriam Corporation Dec. P 9,500 4,200 3,755 11,880 4342 4343 500 3 UE Enterprises 12 PSBA Corporation 15 Payroll 16 BU, Inc. 18 New Era Company UST, Inc. 22 Petty cash fund 28 Payroll 7 4344 4345 4346 120 96,000 6,300 14,058 7.000 10,000 98.000 P 260,693 4347 4348 6,300 14,200 7,000 10,000 98,000 142 21 4349 4350 4351 Total P 261,455 P 762 BANK STATEMENT BANKABLE BANK PERIOD: November 30, 2020 to December 31, 2020 Page 1 of 1 No.: 001-43-44 Description…
The following bank reconciliation is presented for HRCA Company for the month of November 2020: Balance per bank statement, Nov 30 P 3,600,000 Add: Deposit in transit 800,000 4,400,000 Less: Outstanding checks P 1,200,000 Bank credit recorded in error 200,000 1,400,000 Balance per book statement, Nov 30 3,000,000 Data per bank statement for the month of December follow: December deposits (includes note collected of P1,000,000 for Char) P 5,500,000 December disbursements (including NSF, P350,000 and service charge, P50,000) 4,400,000 All items that were outstanding on November 30 cleared through the bank in December, including the bank credit. In addition, checks amounting to P500,000 were outstanding and deposits of P700,000 were in transit on December 31. What is the unadjusted cash balance per book on December 31?
The following information pertains to Cuay Corporation, whose deposits in transit totaled P49,000 at December 31, 2020: Cuay Corporation BANK RECONCILIATION November 30, 2020 P 435,000 Balance per bank statement Less: Outstanding checks Check No. 4321 Check No. 4329 Check No. 4340 Check No. 4341 P 6,000 15,000 1,700 4,675 27,375 P 407,625 16,200 P 423,825 Total Add: Deposits in transit Balance per books CHECK REGISTER December 2020 Vouchers Date Payee Check No. Discount Cash Dec. 1 Payable P 10,000 P P 9,500 San Beda, Inc. 3 Miriam Corporation 7 UE Enterprises 12 PSBA Corporation 15 Payroll 16 BU, Inc. 18 New Era Company 21 UST, Inc. 22 Petty cash fund 28 Payroll 4342 500 4343 4,200 3,755 11,880 96,000 6,300 14,058 7,000 10,000 98,000 P 261,455 P 762 P 260,693 4,200 3,755 12,000 96,000 6,300 14,200 7,000 10,000 98,000 4344 4345 120 4346 4347 4348 142 4349 4350 4351 Total BANK STATEMENT BANKABLE BANK Page 1 of 1 PERIOD: November 30, 2020 to December 31, 2020 No.: 001-43-44 Date…
PREPARE BRS? Bank Balance = $4,487 Book Balance = S$5,899 Interest income = $35 Deposit in transit = $1,590 NSF check = $586 %3D Outstanding checks = $729
PROBLEM NO. 2 Shown below is the bank reconciliation for ABC Company for November 2020: Balance per bank, Nov. 30, 2020 Add: Deposits in transit Total Less: Outstanding checks P150,000 24,000 174,000 P28,000 10.000 Bank credit recorded in error 38,000 P136,000 Cash balance per books, Nov. 30, 2020 The bank statement for December 2020 contains the following data: P110,000 Total deposits Total charges, including an NSF check of P8,000 and a service charge of P400 96,000 All outstanding checks on November 30, 2020, including the bank credit, were cleared in the bank in December 2020. There were outstanding checks of P30,000 and deposits in transit of P38,000 on December 31, 2020. Questions: Based on the above, answer the following: A. How much is the cash balance per bank on December 31, 2020? B. How much is the cash balance per books on December 31, 2020? C. The adjusted cash in bank balance as of December 31, 2020?
Requlred Informetion [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Checks Deposits Balance $ 48,000 40, 380 67,830 53,930 ৪9, 938 88,970 88,470 88,520 88,370 Date Other Dec. 1 $ 7,620 558 $28, 000 13,900 11 17 23 36, e00 26 960 30 NSF* $300 50 19, 200 19, e00 31 Interest earned 31 Service charge 150 NSF check from J. Left, a customer. Cash (A) Dec. 1 Balance 48, e00 Deposits Dec. 11 23 Checks written during December: 7,620 28, 800 36, ee0 19,e00 13,e00 550 30 13,900 960 31 150 19,200 4,500 Dec. 31 Balance 97,120 There were no deposits in transit or outstanding checks at November 30. Requlred: 1. Identify and list the deposits in transit at the end of December. (Select all that apply.) $28,000 $36,000 $19,000 $13,000 2. [dentify and list the outstanding checks at the end of December (Select all that apply.) $7,620 $550 $13,900 $880 $150 $19,200 $4,500 OOUI