At the end of the month only one amount, which represents the entire month’s cash receipts, is credited to the bank account in the general ledger. Select one: True False
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At the end of the month only one amount, which represents the entire month’s cash receipts, is credited to the bank account in the general ledger.
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- In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30 Deposits in transit at month-end Outstanding checks at month-end Bank charge Note collected by bank on Donahue's behalf A check paid to Donahue during the month by a customer is returned by the bank as NSF The adjusted cash balance per the books on April 30 is: $6,275 $1,300 $ 620 $ 45 $770 $ 480Which of the following is considered cash? a. Thirty-day certificate of deposits b. Customer’s post-dated checks c. Six-month money market savings certificates d. Money market checking accountsBourne Incorporated reports a cash balance at the end of the month of $2,170. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($67), an NSF check from a customer ($170), a customer's note receivable collected by the bank ($1,100), and interest earned ($17). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal
- Assume that the custodian of a $500 petty cash fund has $62 in currency plus $412 in receipts at the end of the month. The entry to replenish the petty cash fund will include a credit to Cash for $412. a debit to Petty Cash for $438. a credit to Cash for $438. a credit to Cash Short and Over for $26.how to compute the unadjusted cash in bank per ledger at month-end?Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash.
- The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash balance per book. The difference occurs on the 12 of June as one of the customers’ outstanding check has been returned because of not sufficient fund. Record the required entries at the end of June.Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,450, outstanding checks of $3,900, an NSF check of $2,600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3,400. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)?A company's Cash account shows a balance of $3,460 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($50), an NSF check from a customer ($370), a customer's note receivable collected by the bank ($1,600), and interest earned ($130). Required: Record the necessary entry(ies) to adjust the company's balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the items that increase cash. 2 Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general Journal
- Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2 Service Fee Expense selected answer correct 85 selected answer correct Notes receivable incorrect answer please help me finish the problem i keep getting stuck. Its not -85 for credit and its not -35 so what is itAs of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028. The following information is available: 1. Deposit in transit, $2,795. 2. Credit memo in bank statement for interest earned in June: $14. 3. Outstanding check: $3,946. 4. Debit memo for service charge: $12. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ $ 18,181 18,181 4 0rangelina Adoption Agency's general ledger shows a cash balance of $4,582. The balance of cash in the March-end bank statement s $7,323. A review of the bank statement reveals the following information: checks outstanding of $2,792, bank service fees of $74, and interest earned of $23. Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.) Bank balance Company balance Checks outstanding Service fees Interest earned Cash balance per reconciliation Cash balance per reconciliation