Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Chapter 4, Problem 58BPSB
1.
To determine
To prepare: A bank reconciliation.
Introduction:.Bank reconciliation is a process in which, the bank account which is prepared in the books of company is compared with the bank statement issued by bank. The difference in balances is then adjusted by recording appropriate
2.
To determine
To prepare:
Introduction: Journal entries provide a record of the financial activities undertaken within an organization. Journal entries helps in preparation of financial statements of a company.
3.
To determine
The cash balance to be reported on the balance sheet at July 31st.
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QUESTION 8
You are provided with information relating to Umdoni Stores.
The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19:
Balance per bank statement
R5 000 Debit
7.
An EFT payment made by a receivable for R4 300 on 31
October 20.19 appeared in the bank statement but not in the
Balance per Cash Book
R6 500 credit
October Cash Book.
Outstanding deposit dated 30 September 20.19
R20 500
On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October,
the following was noted:
To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the R4 300 deposit (no. 7)
must be recorded as follows:
In the debit column of the Bank reconciliation statement as R4 300
O In the credit column of the Bank reconciliation statement as R4 300
Not recorded in the Bank account or the Bank reconciliation statement
On the debit side of the Bank account as R4 300
On…
EA 7.LO 8.6Using 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
EA 8.LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.7.
PLEASE ANSWER ASAP
Problem No. 2
The following information pertains to AACA Corp.:
AACA Corp.
BANK RECONCILIATION
November 30, 2022
Balance per bank statement
P435,000
Less: Outstanding checks
No. 4321
P 6,000
4329
15,000
4340
1,700
4341
4,675
27,375
P407,625
Add: Deposit in transit
16,200
Balance per books
P423,825
Check Register
December 2022
Date
Payee
No.
Voucher Payable
Discount
Cash
Dec. 1
Earl Inc.
4342
P10,000
P500
P9,500
3
JonJon Co.
4343
4,200
-
4,200
7
Aldous Corp.
4344
3,755
-
3,755
12
Von Company
4345
12,000
120
11,880
15
Payroll
4346
96,000
-
96,000
16
Abraham Co.
4347
6,300
-
6,300
18
Rian Corp.
4348
14,200
142
14,058
21
Mark, Inc.
4349
7,000
-
7,000
22
Petty cash fund
4350
10,000
-…
Chapter 4 Solutions
Cornerstones of Financial Accounting
Ch. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - The Sarbanes-Oxley Act increased top managements...Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 10DQ
Ch. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 14DQCh. 4 - Prob. 15DQCh. 4 - Prob. 16DQCh. 4 - Prob. 17DQCh. 4 - Prob. 18DQCh. 4 - Prob. 19DQCh. 4 - Prob. 20DQCh. 4 - Prob. 21DQCh. 4 - Prob. 22DQCh. 4 - Prob. 1MCQCh. 4 - Prob. 2MCQCh. 4 - Which of the following is not one of the five...Ch. 4 - Prob. 4MCQCh. 4 - The internal audit function is part of what...Ch. 4 - Prob. 6MCQCh. 4 - Prob. 7MCQCh. 4 - Prob. 8MCQCh. 4 - Which one of the following would not appear on a...Ch. 4 - Prob. 10MCQCh. 4 - Prob. 11MCQCh. 4 - Prob. 12MCQCh. 4 - Prob. 13MCQCh. 4 - Prob. 14MCQCh. 4 - Prob. 15MCQCh. 4 - Prob. 16CECh. 4 - Prob. 17CECh. 4 - Cornerstone Exercise 4-18 Adjusting Entry from...Ch. 4 - Prob. 19CECh. 4 - Prob. 20CECh. 4 - Cornerstone Exercise 4-21 Cash Over and Short On a...Ch. 4 - Cornerstone Exercise 4-22 Cash Over and Short...Ch. 4 - Prob. 23CECh. 4 - Prob. 24CECh. 4 - Prob. 25BECh. 4 - Prob. 26BECh. 4 - Prob. 27BECh. 4 - Prob. 28BECh. 4 - Prob. 29BECh. 4 - Prob. 30BECh. 4 - Prob. 31BECh. 4 - Prob. 32BECh. 4 - Prob. 33BECh. 4 - Prob. 34BECh. 4 - Prob. 35BECh. 4 - Prob. 36BECh. 4 - Prob. 37BECh. 4 - Prob. 38BECh. 4 - Prob. 39ECh. 4 - Prob. 40ECh. 4 - Prob. 41ECh. 4 - Prob. 42ECh. 4 - Miller Enterprises deposits the cash received...Ch. 4 - Prob. 44ECh. 4 - Prob. 45ECh. 4 - Prob. 46ECh. 4 - Prob. 47ECh. 4 - Hawk Enterprises identified the following items on...Ch. 4 - Prob. 49ECh. 4 - Prob. 50ECh. 4 - Prob. 51ECh. 4 - Prob. 52ECh. 4 - Prob. 53ECh. 4 - Exercise 4-54 Operating Cycle and Current...Ch. 4 - Prob. 55APSACh. 4 - Prob. 56APSACh. 4 - Prob. 57APSACh. 4 - Prob. 58APSACh. 4 - Prob. 59APSACh. 4 - Prob. 60APSACh. 4 - Prob. 61APSACh. 4 - Prob. 55BPSBCh. 4 - Prob. 56BPSBCh. 4 - Prob. 57BPSBCh. 4 - Prob. 58BPSBCh. 4 - Prob. 59BPSBCh. 4 - Prob. 60BPSBCh. 4 - Prob. 61BPSBCh. 4 - Prob. 62.1CCh. 4 - Prob. 62.2CCh. 4 - Prob. 62.3CCh. 4 - Prob. 62.4CCh. 4 - Prob. 63.1CCh. 4 - Prob. 63.2CCh. 4 - Prob. 64.1CCh. 4 - Prob. 64.2CCh. 4 - Prob. 65CCh. 4 - Prob. 66.1CCh. 4 - Prob. 66.2CCh. 4 - Prob. 67.1CCh. 4 - Prob. 67.2CCh. 4 - Prob. 68.1CCh. 4 - Prob. 68.2CCh. 4 - Prob. 68.3CCh. 4 - Prob. 68.4CCh. 4 - Prob. 69.1CCh. 4 - Prob. 69.2CCh. 4 - Prob. 69.3CCh. 4 - Prob. 69.4CCh. 4 - Case 4-70 CONTINUING PROBLEM: FRONT ROW...Ch. 4 - Prob. 70.2CCh. 4 - Prob. 70.3CCh. 4 - Prob. 70.4C
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