2 Cash sales of 83615 on May 12 were deposited in the bank The cash receipts

2 cash sales of 83615 on may 12 were deposited in the

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2. Cash sales of $836.15 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $846.15. The bank cred- ited Sosa Company for the correct amount. 3. Outstanding checks at May 12 totaled $276.25. Deposits in transit were $1,936.15. 4. On May 18, the company issued check No.1181 for $685 to Kap Shin, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Sosa Company for $658. 5. A $3,000 note receivable was collected by the bank for Sosa Company on May 31 plus $80 interest. The bank charged a collection fee of $20. No interest has been accrued on the note. 6. Included with the cancelled checks was a check issued by Tacamoto Company to Yee Chow for $600 that was incorrectly charged to Sosa Company by the bank. 7. On May 31, the bank statement showed an NSF charge of $700 for a check issued by John Lewis, a customer, to Sosa Company on account. Instructions : (a) Prepare the bank reconciliation at May 31. Bank Balance, May 31: $6,804.60 ADD: 1 Deposit in transit: $1,936.15 $836.15 LESS: Outstanding checks: 276.25 Book Balance, May 31: $6781.50 ADD: 1 Interest: $80 4
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Accounting 201 Bank Reconciliation Problems 2. $3,000 3. $20 LESS: $600 NSF: $700 5
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Accounting 201 Bank Reconciliation Problems 7-1B The Malamura Company deposits all receipts in the bank and makes all payments by check. On November 30 its Cash account has a balance of $2,289. The bank statement on November 30 shows a balance of $2,894. You are given the following information with which to reconcile the bank statement: (a) A deposit of $320 was placed in the night depository on November 30 and did not appear on the bank statement. (b) The reconciliation for October, the previous month, showed three checks outstanding on October 31: no. 1727 for $81.30; no. 1730 for $127.40; and no. 1732 for $62.40. Checks no. 1727 and 1730 were returned with the November bank statement; how- ever, check no. 1732 was not returned. (c) Check no. 1742 for $98.50, no. 1743 for $46.27, no. 1744 for $37.92, and no. 1745 for $200.91 were written during November but were not returned by the bank. (d) You compare the cancelled checks with the entries in the checkbook and find that check no. 1737 for $58, payable to C.R. Malamura, the owner, for her personal use, was written correctly. However, the check was recorded in the checkbook as $85. (e) Included in the bank statement was a bank debit memo for service charges, $12. (f) A bank credit memo was also enclosed for the collection of a note signed by L. B. Norman, $464, including $436 principal and $28 interest. Instructions: (a) Prepare a bank reconciliation as of November 30, assuming that the debit and credit memos had not been recorded. Bank: 6
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Accounting 201 Bank Reconciliation Problems 7-4A On August 31, Kravsnik Company receives its bank statement. The company deposits its receipts in the bank and makes all payments by check. The debit memo for $149 is for an NSF check written by N. Carlton. Check no. 1924 for $336, payable to Garner Company (a creditor), was incorrectly recorded in the checkbook and journal as $200. The balance of the Cash account as of August 31 is $1,509. Outstanding checks as of August 31 are: no. 1928, $119; no. 1929, $243. The accountant notes that the deposit of August 31 for $261 did not appear on the bank statement.
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