Question : 11) Calculate, from the following information accumulated by Bob Clark, : 1171328

 

11) Calculate, from the following information accumulated by Bob Clark, the adjusted cash balance at the end of April.

 

Bank statement ending cash balance

$3,000

General ledger cash balance ending

4,250

Bank monthly service charge

45

Deposits in transit

2,500

Outstanding checks

1,500

NSF check returned with bank statement

205

 

A) $4,000

B) $4,250

C) $4,205

D) $5,500

12) Determine the adjusted cash balance per bank for Sam’s Packaging on November 30, from the following information:

 

Cash balance on the bank statement

$3,350

Customer’s check returned—NSF

500

Customer’s note collected by the bank

600

Deposits in transit, November 30

1,400

Outstanding checks, November 30

3,650

 

A) $1,250

B) $1,100

C) $1,550

D) $1,350

13) Information to calculate the adjusted cash balance for Sue’s Company is as follows:

 

Cash balance per general ledger

$2,100

Customer’s check returned—NSF

75

Bank service charges

40

Deposits in transit

500

Outstanding checks

700

Customer’s note collected by bank

645

 

A) $2,330

B) $2,430

C) $2,630

D) $2,230

14) The May bank statement for Legal Services shows a balance of $6,000, but the balance per books shows a cash balance of $7,680. Other information includes:

1. A check for $200 to pay the electric bill was recorded on the books as $20.

2. Included on the bank statement was a note collected by the bank for $400 plus interest of $30

3. Checks outstanding totaled $260.

4. Bank service charges were $50.

5. Deposits in transit were $2,140.

A) $9,810.

B) $7,620.

C) $7,150.

D) $7,880.

15) The May bank statement for Consulting Services shows a balance of $7300, but the balance per books shows a cash balance of $8,980. Other information includes:

1. A check for $200 to pay the electric bill was recorded on the books as $20.

2. Included on the bank statement was a note collected by the bank for $400 plus interest of $30.

3. Checks outstanding totaled $260.

4. Bank service charges were $50.

5. Deposits in transit were $2,140.

 

Which item should be added to the company’s book balance during the bank reconciliation?

A) Deposit in transit

B) Outstanding check

C) Bank service charge

D) Note collected by the bank

16) The May bank statement for Tax Services shows a balance of $5,300, but the balance per books shows a cash balance of $6,980. Other information includes:

1. A check for $200 to pay the electric bill was recorded on the books as $20.

2. Included on the bank statement was a note collected by the bank for $400 plus interest of $30.

3. Checks outstanding totaled $260.

4. Bank service charges were $50.

5. Deposits in transit were $2,140.

 

Which item(s) should be subtracted from the balance per books?

A) Deposits in transit

B) Checks outstanding and bank service charge

C) Bank service charge and the note collected by the bank

D) None of the above is correct.

17) The May bank statement for Rental shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. Other information includes:

1. A check for $200 to pay the electric bill was recorded on the books as $20.

2. Included on the bank statement was a note collected by the bank for $400 plus interest of $30.

3. Checks outstanding totaled $260.

4. Bank service charges were $50.

5. Deposits in transit were $2,140.

 

Which item(s) will require a journal entry to update the balance in the Cash account?

A) Checks outstanding and deposits in transit

B) Bank service charges, note collected by the bank, and deposits in transit

C) Bank service charges, note collected by the bank, and error made by Accounting Services

D) None of these answers is correct.

18) A payment for $46 is incorrectly recorded on the checkbook stub as $64. The $18 error should be shown on the bank reconciliation as:

A) added to the balance per bank statement.

B) deducted from the balance per bank statement.

C) added to the balance per books.

D) deducted from the balance per books.

19) A payment for $51 is incorrectly recorded on the checkbook stub as $15. The $36 error should be shown on the bank reconciliation as:

A) added to the balance per bank statement.

B) deducted from the balance per bank statement.

C) added to the balance per books.

D) deducted from the balance per books.

20) Bank interest earned on a checking account would be shown on a bank reconciliation as:

A) added to the balance per bank statement.

B) deducted from the balance per bank statement.

C) added to the balance per books.

D) deducted from the balance per books.