The adjusted book balance will rarely equal the adjusted. At july 31, ramirez company has the following bank information. Prepare a bank reconciliation for thome company for october which reconciles the balance per books and the balance per bank to their adjusted correct balances. Wildhorse company bank reconciliation august 31, 2022 cash balance per bank statement 7388 7388 add deposits in transit 3760 11148 outstanding checks 709 i adjusted cash balance per bank 10439 cash balance per books 7424 add 4 collection on electronic funds transfer 3076 10500 bank service charge 61 i adjusted cash balance per books 10439 journalize the adjusting entries at august. Enter assets in the order in which they appear in the postclosing trial balance. The adjusted balance per books must equal the cash balance printed on the bank statement the cash balance on the bank statement must equal the cash balance in the general ledger before the bank reconciliation.
Calculate the adjusted cash balance per books on may 31. As a result the company has successfully completed its bank reconciliation as of the august 31, 2019. Given the following information, determine the adjusted cash balance per books from the following information a. Solved the bank portion of the bank reconciliation for. How much is the adjusted cash balance per books on august 31. Clark company developed the following reconciling information in preparing its september bank reconciliation. A deposit in transit is on the companys books, but it isnt on the bank statement.
Be sure to complete the heading of the balance sheet. Lisa beja is unable to reconcile the bank balance at january 31. E76 tasha orin is unable to reconcile the bank balance at january 31. Study 197 debit and credits flashcards from janet s. Preparing a bank reconciliation financial accounting. Notes receivable and interest collected by bank 8,400.
Determine the adjusted cash balance per bank at august 31, 2008. Feb 23, 2012 the following information pertains to family video company. Return of customers check not sufficient funds, 83020 1,800. Solved at august 31, pratt company has a cash balance per. Leng xiong is unable to reconcile the bank balance at january 31. On august 1, kim company accepted a 90day note receivable as payment for services provided to hsu company. Wileyplus homework help accounting assignments help. The november bank statement showed the following checks and deposits. Determine the adjusted cash balance per books at august 31. For example, a retail store deposits its cash receipts of august 31 into the. Santos company gathered the following reconciling information in preparing its august bank reconciliation. When a company maintains more than one checking account, it must reconcile each account separately with the balance on the bank statement for that account. The collection has not been recorded by family, and no interest. The following information pertains to sheridan company.
Prepare the necessary adjusting entries for thome company at october. Rodgers company gathered the following reconciling information in preparing its may bank reconciliation. Collection of note receivable interest earned less. The adjusted cash balance per books on june 30 is a. The ending cash balance on the general ledger is reconciled to the adjusted bank statement balance. Wildhorse company bank reconciliation august 31, 2022 cash balance per bank statement 7388 7388 add deposits in transit 3760 11148 outstanding checks 709 i adjusted cash balance per bank 10439 cash balance per books 7424 add 4 collection on electronic funds transfer 3076 10500 bank service charge 61 i adjusted cash balance per books 10439 journalize the adjusting entries at august 31 on the. Debit and credits accounting 101 with collins at joliet. Leng xiong is unable to reconcile the bank balance at.
The following information pertains to worthy video company. Solved at august 31, pratt company has a cash balance. Determine the adjusted cash balance per bank at july 31. The direct writeoff method of accounting for uncollectible accounts a. Determine the adjusted cash balance per bank at august 31, 2018. At august 31, pratt company has a cash balance per books of. The computation of the adjusted cash balance per books on august 31 is shown below. Sri balan maintained two separate banking accounts, one with union bank and the other with state bank. After reconciliation, the adjusted bank balance should match with the companys ending adjusted cash balance. Wildhorse company bank reconciliation august 31, 2.
The following information pertains to lance company. The following information pertains to blossom company. The balances should be the true, correct amount of cash as of the date of the bank reconciliation. Sample bank reconciliation with amounts accountingcoach.
At august 31, pratt company has a cash balance per books. Solved at august 31, felipe company has a cash balance. Assuming that the bank statement balance is correct, what is the correct cash account balance on march 31. The bank portion of the bank reconciliation for bogalusa company at october 31, 2017, is shown below. Chapter 7 questions multiple choice harper college. At august 31 kiner company has this bank information.
Deduct any bank service fees, penalties, and nsf checks. Prepare the bank reconciliation for august 31, using the following form. The company believes that all items involving cash have been included in the schedules. The adjusted cash balance per books on october 31 is a. Accountingthe following information pertains to family. Tasha orin is unable to reconcile the bank balance at. Nilson company gathered the following reconciling information in preparing its august bank reconciliation. Aug 21, 2015 e76 tasha orin is unable to reconcile the bank balance at january 31. After adjusting the balance per bank step 1 and after adjusting the balance per books step 2, the two adjusted amounts should be equal.
Rodgers company gathered the following reconciling information. Outstanding checks adjusted cash balance per bank cash balance per books add. Determine the adjusted cash balance per the books on august 31. Nsf checks safety deposit box rent b prepare the adjusting entries at september 30, assuming 1 the nsf check was from a customer on account, and 2. The following information pertains to cullumber company. Tasha orin is unable to reconcile the bank balance at january 31. At august 31, sunland company has a cash balance per books. After you adjust the balance per bank to be the true balance and after you adjust the.
At august 31, 2020, oakleys adjusted cash balance is. The adjusted cash balance per books on august 31 is. This will arrive at the adjusted company cash balance. On 31st december 2004, the bank balance as per union bank statement and the state bank statement were rs 556 and rs 1,308 respectively. At august 31, sheridan company has a cash balance per books of. The adjusted cash balance per bank agreed with the cash balance per books at october 31. The adjusted balance per books must equal the cash balance printed on the bank statement. The following information pertains to crane company.
If the balance at bank, as per the cash book adjusted, it will be rs 12,050, thus. July bank service charge not recorded by the depositor. At august 31, crane company has a cash balance per books of. The following information pertains to family video company. At august 31 oscar company has a cash balance per books of. Bank reconciliation statement adjustment of cash book. Accountingthe following information pertains to family video.