How much is the adjusted bank balance

Assignment Help Financial Accounting

Reference no: EM133187234

Question: Entity A is preparing its February 28, 20x1 bank reconciliation statement.

The following information was determined: Cash balance per accounting books, Feb. 28, 20x1 260,000 Cash balance per bank statement, Feb. 28, 20x1 205,000 When investigating the difference, the accountant determined the following:

A customer deposited 30,000 to Entity A's bank account as payment for an account receivable. This is not yet recorded in the books of accounts. A 02,500 check deposited by Entity A during the month is not yet credited to Entity A's account.

A check drawn in the amount of 22,500 is not yet presented to the bank for payment.

The bank returned a check deposit amounting to 5,000 because of insufficiency in the funds of the drawer. The check was received from a customer as payment for accounts receivable. How much is the adjusted bank balance?

Reference no: EM133187234

Questions Cloud

Calculate the value of monthly purchases : John Jones runs a shop which makes all of its sales for cash. Forecasts for the first half of 2021 are: April to June - £70,000 per month. Calculate the value

Explain an example of an organizational culture : Describe and explain an example of an organizational culture that you have seen or experienced. What artifacts, values, and assumptions did it include?

How does demand and opportunities relate to changing : Question 1: How does demand and opportunities relate to changing populations?

Assessment of the marketing communication strategies : Provide an example of three (3) objectives and measures. Then discuss three (3) distinct marketing communication strategies you will employ to create AWARENESS

How much is the adjusted bank balance : How much is the adjusted bank balance - This is not yet recorded in the books of accounts. A 02,500 check deposited by Entity A during the month is not yet

What would be impact of these different rates of inflation : US inflation has been steady at around 2% to 3% for over a decade, What would be impact of these different rates of inflation

Calculate the draft budgeted break-even point : Total fixed overheads attributable to the Bryant product are GHC700,000. Calculate the draft budgeted break-even point

Calculate the return on equity : Calculate the return on equity (ROE) and residual income (RI) for years 1-4, as well as the abnormal earnings growth (AEG) for years 2-4 in 4 decimal places

Draw a system flowchart to account : Draw a System flowchart to account for EVERY ACTIVITY described in the scenario below: A customer sends a customer order document to a company

User Account

All Pages