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S the transactions. ank reconciliation and entries OBJ. 5 Ecount for Capstone Medical Co. at November 30, 2016, indicated a balance The bank statement indicated a balance of $128,660 on November 30, 2016. the bank statement and the accompanying canceled checks and memos with revealed the following reconciling items: outstanding totaled $32,700. t of $18,550, representing receipts of November 30, had been made too late on the bank statement. x collected $26,750 on a $25,000 note, including interest of $1,750. for $1,500 returned with the statement had been incorrectly recorded by Medical Co. as $150. The check was for the payment of an obligation to ply Co. for a purchase on account. drawn for $490 had been erroneously charged by the bank as $940. vice charges for November amounted to $60. bank reconciliation. - the necessary entries. The accounts have not been closed. ce sheet were prepared for Capstone Medical Co. on November 30, 2016, -unt should be reported as cash?

S the transactions. ank reconciliation and entries OBJ. 5 Ecount for Capstone Medical Co. at November 30, 2016, indicated a balance The bank statement indicated a balance of $128,660 on November 30, 2016. the bank statement and the accompanying canceled checks and memos with revealed the following reconciling items: outstanding totaled $32,700. t of $18,550, representing receipts of November 30, had been made too late on the bank statement. x collected $26,750 on a $25,000 note, including interest of $1,750. for $1,500 returned with the statement had been incorrectly recorded by Medical Co. as $150. The check was for the payment of an obligation to ply Co. for a purchase on account. drawn for $490 had been erroneously charged by the bank as $940. vice charges for November amounted to $60. bank reconciliation. - the necessary entries. The accounts have not been closed. ce sheet were prepared for Capstone Medical Co. on November 30, 2016, -unt should be reported as cash?

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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werow abboro IIA a 31. Decreased the petty cash fund by $100. usted balance: D dger balance: om cash sales was $18,780. Instructions Journalize the transactions. PR 8-3A Bank reconciliation and entries THOM OBJ. 5 The cash account for Capstone Medical Co. at November 30, 2016, indicated a balance of $89,620. The bank statement indicated a balance of $128,660 on November 30, 2016. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: SS nuta. Checks outstanding totaled $32,700. b. A deposit of $18,550, representing receipts of November 30, had been made too late to appear on the bank statement. c. The bank collected $26,750 on a $25,000 note, including interest of $1,750. d. A check for $1,500 returned with the statement had been incorrectly recorded by Capstone Medical Co. as $150. The check was for the payment of an obligation to ABC Supply Co. for a purchase on account. oll bed e. A check drawn for $490 had been erroneously charged by the bank as $940. f. Bank service charges for November amounted to $60. Instructions 1. Prepare a bank reconciliation. 2. Journalize the necessary entries. The accounts have not been closed. 3. If a balance sheet were prepared for Capstone Medical Co. on November 30, 2016, what amount should be reported as cash? PR 8-4A Bank reconciliation and entries OBJ. 5 The cash account for Brentwood Bike Co. at May 1, 2016, indicated a balance of $34,250. During May, the total cash deposited was $140,300, and checks written totaled $138,880. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank state- the accompanying memos with the records revealed the
Transcribed Image Text:werow abboro IIA a 31. Decreased the petty cash fund by $100. usted balance: D dger balance: om cash sales was $18,780. Instructions Journalize the transactions. PR 8-3A Bank reconciliation and entries THOM OBJ. 5 The cash account for Capstone Medical Co. at November 30, 2016, indicated a balance of $89,620. The bank statement indicated a balance of $128,660 on November 30, 2016. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: SS nuta. Checks outstanding totaled $32,700. b. A deposit of $18,550, representing receipts of November 30, had been made too late to appear on the bank statement. c. The bank collected $26,750 on a $25,000 note, including interest of $1,750. d. A check for $1,500 returned with the statement had been incorrectly recorded by Capstone Medical Co. as $150. The check was for the payment of an obligation to ABC Supply Co. for a purchase on account. oll bed e. A check drawn for $490 had been erroneously charged by the bank as $940. f. Bank service charges for November amounted to $60. Instructions 1. Prepare a bank reconciliation. 2. Journalize the necessary entries. The accounts have not been closed. 3. If a balance sheet were prepared for Capstone Medical Co. on November 30, 2016, what amount should be reported as cash? PR 8-4A Bank reconciliation and entries OBJ. 5 The cash account for Brentwood Bike Co. at May 1, 2016, indicated a balance of $34,250. During May, the total cash deposited was $140,300, and checks written totaled $138,880. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank state- the accompanying memos with the records revealed the
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