Accounting
TEST BANK IN CASH – LEGAL SIZE
ACCNTFI
MR. ALBNERT C. CHAN, BSC, CPA, MBA
3RD TERM DLS-CSB
Ex. 173
The cash balance per books for Dexter Company on September 30, 2008 is $10,740.93. The following checks and receipts were recorded for the month of October, 2008:
Checks Receipts
No. Amount No. Amount Amount Date
17 $372.96 22 $ 578.84 $843.86 10/ 5
18 $780.62 23 $1,687.50 $941.54 10/21
19 $157.00 24 $ 921.30 $808.58 10/27
20 $587.50 25 $ 246.03 $967.00 10/30
21 $234.15
In addition, the bank statement for the month of October is presented below:
Balance Deposits and Credits Checks and Debits Balance Last Statement No. Total Amount No. Total Amount This Statement ———————————————————————————————————————— $5,404.84 5 $9,178.36 10 $3,632.19 $10,951.01 ———————————————————————————————————————— Checks and other debits Deposits Date Balance ——————————————————————— No. Amount No. Amount No. Amount ———————————————————————————————————————— 14 148.29 17 372.96 22 578.84 5,484.38 10/ 1 $9,875.31 18 708.62 24 921.30 843.86 10/ 8 $9,219.03 19 157.00 25 246.03 941.54 10/23 $9,541.58 21 234.15 25.00 SC 808.58 10/29 $10,101.01 240.00 NSF 1,100.00 CM 10/31 $10,951.01 ———————————————————————————————————————— Symbols: NSF (Not sufficient funds) SC (Service charge) CM (Credit Memo) ————————————————————————————————————————
Check No. 18 was correctly written for $708.62 for a payment on account. The NSF check was from S. King, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the adjusting journal entries required by the bank reconciliation.
MULTIPLE CHOICE
101. Which one of the following would not
ACCNTFI
MR. ALBNERT C. CHAN, BSC, CPA, MBA
3RD TERM DLS-CSB
Ex. 173
The cash balance per books for Dexter Company on September 30, 2008 is $10,740.93. The following checks and receipts were recorded for the month of October, 2008:
Checks Receipts
No. Amount No. Amount Amount Date
17 $372.96 22 $ 578.84 $843.86 10/ 5
18 $780.62 23 $1,687.50 $941.54 10/21
19 $157.00 24 $ 921.30 $808.58 10/27
20 $587.50 25 $ 246.03 $967.00 10/30
21 $234.15
In addition, the bank statement for the month of October is presented below:
Balance Deposits and Credits Checks and Debits Balance Last Statement No. Total Amount No. Total Amount This Statement ———————————————————————————————————————— $5,404.84 5 $9,178.36 10 $3,632.19 $10,951.01 ———————————————————————————————————————— Checks and other debits Deposits Date Balance ——————————————————————— No. Amount No. Amount No. Amount ———————————————————————————————————————— 14 148.29 17 372.96 22 578.84 5,484.38 10/ 1 $9,875.31 18 708.62 24 921.30 843.86 10/ 8 $9,219.03 19 157.00 25 246.03 941.54 10/23 $9,541.58 21 234.15 25.00 SC 808.58 10/29 $10,101.01 240.00 NSF 1,100.00 CM 10/31 $10,951.01 ———————————————————————————————————————— Symbols: NSF (Not sufficient funds) SC (Service charge) CM (Credit Memo) ————————————————————————————————————————
Check No. 18 was correctly written for $708.62 for a payment on account. The NSF check was from S. King, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 which has not been accrued. The bank service charge is $25.00.
Instructions
(a) Prepare a bank reconciliation at October 31.
(b) Prepare the adjusting journal entries required by the bank reconciliation.
MULTIPLE CHOICE
101. Which one of the following would not