In an audit of Mindanao Company on December 31,2020, the following data aregathered:  Balance per book 2,000,000 Bank charges 6,000 Outstanding checks 470,000 Deposit in transit 600,000 Customer note collected by bank 750,000 Interest on customer note 30,000 Customer check returned NSF 124,000 Depositor’s note charged to account 500,000.  9. What is the adjusted cash in bank on December 31,2020?

Q: The following information was taken from a company's bank reconciliation at the end of the year:…

A: Cash balance = Bank balance + Deposits outstanding - Checks outstanding

Q: The cash account in ABC Co.’s ledger showed a balance at December 31, 2020 of P 4,415,000 which was…

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Q: "Quincy" Company's accountant prepared the following bank reconciliation for March 2018: P200,000…

A: The bank reconciliation statement is prepared to adjust the cash book balance and pass book balance…

Q: For the month of July, Adam Company had the following information: bank service charge for July,…

A: Deductions from cash book=Bank service charge+NSF check=P 16,500+P 40,000=P 56,500

Q: In preparing the bank reconciliation for the month of August, Alex Company provided the following…

A: Bank reconciliation statement is prepared to cross check the balances of cash in bank balance as per…

Q: On October 31, 2024, Affleck Company's general ledger shows a cash account balance of $8,442. The…

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Q: The book balance of a cash in bank account of Stands Corp. is P1,090,00O. As of this date,…

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Q: You were able to gather the following from the December 31, 2020 trial balance of Should Corporation…

A: Adjusted cash on hand is calculated after deducting the amounts that shouldn't be included in it for…

Q: In the course of your company's audit to BLACKPINK CORPORATION'S cash in bank for the year ended…

A:

Q: The following information is available for Lemonaid Co. for June 30, 2020: The bank statement…

A: Bank reconciliation statement is the statement which is prepared to reconcile or rectify the error…

Q: Sapphire Company provided the following information for the month of December: Balance per bank…

A: Bank Reconciliation Statement is a statement is prepared to correct the balance between cash balance…

Q: company was preparing a bank reconciliation statement as of September 30, 2020. The following were…

A: Bank reconciliation statement is prepared to tally the balances of cash book and bank book.

Q: Record the bank collection.   Journal Entry Date   Accounts and Explanations Debit Credit 2018 Cash…

A: Bank Reconciliation Statement is a statement that is prepared to reconcile the balance as per the…

Q: Striker Company has the following balances at fiscal year ended September 30, 2020: Cash in checking…

A: Cash and cash equivalent represent the current assets reported in the balance sheet of the company.…

Q: Core Company provided the following data for the purpose of reconciling the cash balance per book…

A: The bank reconciliation statement shows the transactions which results in difference between the…

Q: In connection with your audit of the cash account of Joseph Company, you gathered the following…

A: Cash and cash equivalents are items in the balance sheet, i.e., the amount of all cash and easily…

Q: Abne Company provided the following data for the purpose of reconciling the cash balance per book…

A: Bank Reconciliation is a statement by which a reconciliation of bank’s statement with that of cash…

Q: The Cash general ledger account balance of Gladstone Ltd. was $2,531 at March 31, 2019. On this same…

A: The difference between the cash book balance and bank book balance due to some extra transactions in…

Q: At the end of September 2021, Bigelow’s accounting records show a cash balance of $5,000. The…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Aballe Company provided the following data for the month of December: Balance per Book 2,000,000…

A: Bank reconciliation statement: A bank reconciliation statement (BRS) is a statement which is used to…

Q: In relation to your audit of the financial statements of the Rocky Mountain High for the fiscal year…

A: A cutoff bank reconciliation statement is a BRS prepared by the auditor for a short duration of time…

Q: Below is the bank reconciliation of CPA Company for July 2021: Balance per Bank, July 31, 2021 Add:…

A: Solution: Cash disbursement as per books during August 2021 = Total charges as per bank - NSF check…

Q: Timex Company provided the following data relating to the cash transactions and bank account for the…

A: Bank reconciliation statement is a statement used to match the balance of money reported on the…

Q: The following information pertains to EXCELLENT Company as of December 31, 2020: Cash balance per…

A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…

Q: At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000,…

A: Bank reconciliation statement is prepared to  compare the transactions recorded in the company's…

Q: Flower company was preparing a bank reconciliation statement as of September 30, 2018. The following…

A: Bank reconciliation is a statement which was prepared by the business entity where it helps to match…

Q: . The adjusted balance per book is b. The adjusted balance per bank is

A: Bank reconciliation statement: Bank reconciliation refers to the statement prepared by the customer…

Q: On December 31, 2021 what is the adjusted cash in bank? In an audit of Danao Company on Dec. 31,…

A: Answer -    Adjusted Book Balance -  A bank reconciliation is a schedule each company prepares to…

Q: On December 31, 2020 Buttercup Company had a cash balance per books of $10,922.25. The bank…

A: The bank account balance and the balance of the cash book may not reconcile at the end of the year…

Q: The statement of financial position of the Money Company on December 31, 2020 shows cash of…

A: Notes   1. Cheque recevied from customer but not yet deposited are includible in Cash A/c. Therefore…

Q: The following information pertains to Candy company on December 31, 2019: Cash balance per bank…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: The accountant of AA Company gathered the following information: The November 30 bank statement…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: The following details are found in the incomplete bank reconciliation statement of Phillip Company…

A: Ideally cash balance as per cash book and bank balance as per bank statement must reconcile and if…

Q: The following information was obtained in connection with the audit of XXX Corporation’s cash…

A: Preparation a proof of cash using book to bank method  for the year ended 31 December 2021 Date…

Q: An entity reported the following data on December 31, 2020: Cash in bank, net of bank overdraft of…

A: Current liabilities are the short-term obligations of the business for expenses, payables, etc. that…

Q: The following information was obtained in connection with the audit of XXX Corporation's cash…

A: Bank reconciliation statement is prepared when the balance of bank account does not match the…

Q: The following information pertains to Kwek kwek Company on December 31, 2021: Bank statement…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. Another name for…

Q: You were able to gather the following from the December 31, 2020 trial balance of Should Corporation…

A: Cash and cash equivalent are shown as a line item on the balance sheet of the entity. Cash and cash…

Q: The following selected data were taken from the bank statement and cash records of Taehyung V for…

A: Unadjusted cash disbursements per bank statement during the month of December = checks written +…

Q: The Cash general ledger account balance of Gladstone Ltd. was $2,531 at March 31, 2019. On this same…

A: This question is asking for the bank reconciliation statement and adjusting entries. Here some…

Q: In preparing the bank reconciliation for the month of December, Nano Company provided the following…

A: Bank reconciliation is the summary showing the balances of cash as per books and pass book which…

Q: You are auditing the cash account of Vhina Inc. for the fiscal year ended July 31, 2020. The client…

A: Answer to Question:- Correct Cash in Bank Balance =P20,940.                    Bank…

Q: The Treasurer for Marvel Inc., was preparing a bank reconciliation statement as of September 30,…

A: Bank reconciliation is a statement which was prepared by the business organisation where it helps to…

Q: In the course of your company's audit to BLACKPINK CORPORATION'S cash in bank for the year ended…

A: The statement of proof of cash is prepared by starting with the opening cash balance as per book and…

Q: You were able to gather the following from the December 31, 2020 trialbalance of PPP COMPANY: Cash…

A: 1) Cash on Hand   Particulars Amount   Balance as on 31/12/20 500,000 Less Cheque Uncleared…

Q: The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2020. The bank…

A: Bank reconciliation statement is used to determine the correct cash balance.

Q: In your audit of TRUE Company as of December 31, 2020, you gathered the following information:…

A: The cash balance can be computed by preparing a bank reconciliation statement.

Q: The following information was obtained in connection with the review of Taekook Company’s cash…

A: Unadjusted book disbursements in December = Company checks paid by bank in December + Outstanding…

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.