Prepare bank reconciliation for entity

Assignment Help Accounting Basics
Reference no: EM132793303

Entity A is preparing its March 31, 20x1 bank reconciliation. The following was determined:

A. The cash balance per book is 280,000, while the cash balance per bank statement is 320,000.

B. credit memo - 20,000

C. Debit memo - 15,000

D. Deposit transit - 75,000

E. Outstanding checks - 25,000

F The disbursement per books are overstated by 45,000

G. The debits are understated by 40,000

Requirement:

Problem 1: Prepare bank reconciliation.

Reference no: EM132793303

Questions Cloud

Explain the syntax of commands you use : Investigate your selected tool and explain the syntax of commands you use. Your presentation must include at least 6 screenshots that demonstrate
Explain the purpose of mills distinction : Question 1: What is the purpose of Mills distinction between a "living belief" and a "dead dogma"?
Calculate consolidated retained earnings at December : Corner's accounts receivable contains $45,000 owing from Brook. Calculate consolidated retained earnings at December 31, Year 7
What is the maximum amount can give to the family : What is the maximum amount they can give to their family (including the sons- and daughters-in-law) without using any of their unified transfer tax credit?
Prepare bank reconciliation for entity : Prepare bank reconciliation. The disbursement per books are overstated by 45,000. The cash balance per book is 280,000, while cash balance per bank statement.
Assignment on leisure and self-development : In what ways does your own personal leisure lead to personal and social development and life-long education, how and why? On the other hand
Question on consumption of meat and use of leather : Are you less likely to buy leather and fur products, or not? Why or why not?
Find the breakeven volume as the volume : Find the breakeven volume as the volume where contribution margin equals the fixed cost. What is the expected operating income for the three week run?
Appraise the risks inherent in computer-based systems : Appraise the risks inherent in computer-based systems/ERP, including the role of ethics and the various internal control processes that need to be in place

Reviews

Write a Review

Accounting Basics Questions & Answers

  Find jorgensen company margin of safety

Jorgensen Company has sales of $380,000,000, and the break-even point in sales dollars is $323,000,000. Find the Jorgensen Company's margin of safety

  Discuss the article degree evaluations

According to the article 360-Degree Evaluations, What do you think about these types of evaluations? What are some pros and cons?

  Adjusting entry bruce should make in respect to the rent

Bruce debited cash and credited unearned rent revenue for $600,000. At December 31, 2009 (the end of the accounting period), give the adjusting entry Bruce should make in respect to the rent.

  What steps should he take to ensure the company retains

What steps should he take to ensure the company retains, stores, and disposes of payroll records properly

  Calculate the net cash provided for garvey corporation

Calculate the net cash provided or used by financing activities for the Garvey Corporation using some or all of the following information

  The first threeyear renewal option

What is the length of the lease term that Culinary Creations should assume in recording the transactions related to the lease?

  Balance of interest payable for the loan

On November 1, 2016, SassyCat Treat Co. borrows $30,000,000 at 9% to finance the holiday sales season. The note is for a six-month term and both principal and interest are payable at maturity. What is the balance of interest payable for the loan a..

  Which investment produces the greater after tax income

alva can earn 5% before tax interest on a corporate bond or a 4% dividend on a preferred stock. Assuming that the appreciation in value is the same, which investment produces the greater after tax income?

  What is the correct cash in bank balance

You determined that the entity recorded a P50,000 check payment as P5,000. What is the correct cash in bank balance

  From an analysis of the change in owners equity during the

andruw company had the following assets and liabilities on the dates indicated.december 31total assetstotal

  Calculate and comment on the cost of the prediction error

Compare this cost to the annual relevant total costs that Alpha would have incurred if it had correctly estimated the relevant carrying cost per unit per year.

  On september 17 2013 ziltech inc entered into an agreement

on september 17 2013 ziltech inc. entered into an agreement to sell one of its divisions that qualifies as a component

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd