Question: Video Answer:  Get the answer to your homework problem. Try Numerade free for 7 days Indiana Institute of Technology We don’t have your requested question, but here is a suggested video that might help. Related QuestionA check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. what entry is required in the company's accounts? DiscussionYou must be signed in to discuss. Video TranscriptI would like to introduce you to my friends. We're asking a question. This amount was recorded in the general as the check drawn by a company was $965. What are the requirements? The accounts are for the company. We must find that. Well, right? account B is the accounts payable debit. There was one. We get 695 S dollars for every cash we have. Well, right? If I wrote for this account, four people would have to use their state account for cash. Fight What is collective entry if I'm right here for four days? Collective entry is dollar 955. This will come out as if it's zero and it's 16 to 7 and it's dollars to 70. Well, right? So now what is this? This is a group of people. Collective entry for accounts payable with cash for account people. The man is named David. It's dollars to 70. Well, right? If I write here David accounts, people David accounts, people coma, credit cash, I can write your hands and the required in company accounts. People will credit cash if I write for this coma. This is the final answer in this case, if I am right here. I would like to thank you. A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n) Select one: A. addition to the balance per the bank statement B. deduction from the balance per the bank statement C. addition to the balance per the company's records D. deduction from the balance per the company's records Q: Accompanying a bank statement for Santee Company is a credit memo for $15,120 representing the… A: A journal entry is prepared by the company to record the non-economic & economic transactions of… Q: While preparing the February 28 bank reconciliation, the accountant identifies the following items:… A: Calculation of company's adjusted cash balance on February 28: Q: The following data are assembled by the accountant of CPA Corporation: Nov. 30, 2021 | Dec. 31, 2021… A: Cash receipts as per Cash book = P 4,11,593 Add: Notes collected V( 202,250 - 179,538)… Q: Beckett Co. received its bank statement for the month ending June 30, 2019, and reconciled the… A: The bank reconciliation is a statement or summary of differences between the bank balance and… Q: A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as… A: A cheque is drawn for RM 609 for the purpose of payment of liability but entry is recorded for RM… Q: The accountant of Universe Manufacturing collected the following information: The balance as per… A: The purpose of bank reconciliation is to compare the Cash account balance with bank statement… Q: The accountant of Universe Manufacturing collected the following information: The balance as per… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with… Q: A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as… A: Answer: an addition to the balance per the company's records Q: If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's… A: What is meant by a Bank Reconciliation Statement? The main purpose of preparing this statement is to… Q: The Corporation, showed a cash balance per books of P120,655 on November 30, 2021. Upon preparing… A: The Bank reconciliation statement is prepared in order to reconcile the difference between balance… Q: The bank collected a Note Receivable for the company and credited the company's bank account for… A: "Since you have asked multiple questions, we will solve first question for you. If you want any… Q: The books of CPA Company disclosed a cash in bank balance of P38,295 on December 31, 2021.… A: Solution: Adjusted ‘cash in bank’ balance as of December 31, 2021 is effected by any charges not… Q: The company has an unadjusted book balance of P200,000.00. It has a deposit in transit worth… A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with… Q: Bears Entity revealed the bank statement balance on December 31 at P8,500,000. • A deposit of… A: adjusted cash in bank on December 31= balance as per bank + deposit in transit - outstanding check +… Q: Accompanying a bank statement for Borden Company is a credit memo for $21,200 representing the… A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book… Q: Accompanying a bank statement for Borden Company is a credit memo for $21,200 representing the… A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash… Q: A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as… A: Bank reconciliation is the summary showing the balances as per books of the entity and the pass book… Q: The following bank reconciliation is presented for the Jungkook Company for the month of September… A: Cash disbursements per books in October 2020 = October charges as per bank + Outstanding checks on… Q: the following particulars of Al Nava Industries LLC, prepare bank reconciliation statement as on… A: Due to transactions in transit and direct transactions in banks, the balance of cash book and pass… Q: raders received its bank statement for the month ending 31 May 2021. The bank reconciliation at the… A: The bank reconciliation statement is prepared to adjust the balances of cash book and pass book to… Q: fter reviewing ATG Company Ltd.’s bankstatement for the month of September2022, the company… A: Bank Reconciliation Statement is a statement that is prepared to reconcile the Bank balance as per… Q: Branson Co. received its bank statement for the month ending May 31, 2019, and reconciled the… A: Computation of bank reconciliation statement: Q: Using the following information, prepare a bank reconciliation for Cole Co. for May 31 of the… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with… Q: (Bank Reconciliation and Adjusting Entries) Presented below is information related to Haselhof Inc.… A: Workings: Given values: Balance per books at October 31 is $ 41847.85 Balance per bank statement… Q: The bank statement contained an adjustment of $410 for a note receivable collected by the bank on… A: The adjustment of $410 is collected by the bank and omitted in the cash book therefore the complete… Q: Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2019,… A: Journal entries: It is the duty of the accountant to record business economic and non-economic… Q: Sweden Company provided the following information for the month of December:… A: Cash is an current asset and used for consideration purpose for exchange of goods and services. It… Q: current year, Bright and White Laundry received a bank statement dated August 28. Information nas… A: Bank Reconciliation Statement- Bank Statement Statement is a statement prepared by the account… Q: Winson Company reported the following information related to its 31 August 2019 bank statement: i)… A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or… Q: A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through… A: Bank reconciliation:Bank statement is prepared by bank. The company maintains its own records from… Q: The books of Cajardo Service, Inc. disclosed a cash balance of P687,570 on December 31, 2010. The… A: Bank Reconciliation Statement is a statement which shows the difference in the amount of the bank… Q: Entries for Note Collected by Bank Accompanying a bank statement for Borden Company is a credit memo… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with… Q: The bank statement of Opus Company for April 2021 showed an ending balance of P165,000. Deposit in… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with… Q: The bank statement of Opus Company for April 2021 showed an ending balance of P165,000. Deposit in… A: Click to see the answer Q: The information below is from the books of the Seminole Corporation on June 30: Balance per bank… A: "Since you have asked multiple questions, we will solve only first question for you. If you want any… Q: The checking account balance per bank statement is P3,874,000. Included in the bank statement are a… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with… Q: In the draft accounts for the year ended 31 October 20X9 of Thomas P Lee, garage proprietor, the… A: Balance at bank refers to the amount which a firm or person has in the bank. A firm deposits cash in… Q: As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank balance of the… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with… Q: On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,439. The… A: Deposits Outstanding = $ 74600 - $ 71365 = $ 3235 Checks Outstanding = $ 72509 - $ 71234 = $ 1275 Q: The following data pertain to the cash transactions and bank account of Star Corp for May of the… A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with… Q: As an Accountant of Mickey Mouse Corporation, you were assigned to assessed the bank balance of the… A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…
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A check drawn by a company for $340 in payment of a liability was recorded in the journal
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