The cash records and the bank statement of frankel company

Reference no: EM13614755

a. Linetech Company's bank statement showed an endingbalance of $8,000. Items appearing in the bank reconciliationincluded: outstanding checks, $500; deposits in transit, $1,000;bank service charges, $50; and Driver Company's check erroneouslycharged to Linetech's bank account by the bank, $250. Thecorrect cash balance at the end of the month should be reported as?

b. The cash records and the bank statement of Frankel Companyshowed the following at the end of February 2006: Outstandingchecks at the end of January 2006, $8,000; checks written byFrankel Company during February 2006, $50,000; and checks clearedby the bank during February 2006, $54,000. Therefore, the outstanding checks at the end of February 2006, amounted to ?

c. The cash account and the December bank statement of GomezCompany showed the following: Deposits made by Gomez Company duringDecember $90,000; deposits reflected on the December bankstatement, $88,000; and deposits in transit on November 30, $5,000.Therefore, the deposits in transit at the end of December amountedto ?

d. The following information wasavailable to the accountant of Wiley Company when preparing the monthly bank reconciliation:

Cash balance per bank	$2,650
Outstanding checks	950
NSF check returned with the bank statement	200
Deposits in transit	1,250
Bank service charges	75
Notes receivable from customer, collected by bank	750

The cash balance of Wiley Company prior to beginning the bankreconciliation was ?

Reference no: EM13614755

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