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CHAPTER 6
Note collected
1,936,000
Book error (1,930,000 – 1,390,000) (
540,000)
NSF check
( 840,000)
Service charge
( 47,000)
Net debt to cash
509,000
65
Problem 6-12 Answer D
Adjusting entries:
66
Problem 6-18
Balance per book 5,000,000 Adjusting entries:
Add: Note collected by bank 2,150,000
Total 7,150,000 1. Cash in bank 2,150,000
Less: Bank service charge 50,000 Bank service charge 50,000
NSF check 500,000 550,000 Note receivable
2,000,000
Adjusted book balance 6,600,000 Interest income
200,000
67
Problem 6-19
Problem 6-20
b. Adjusting entries:
Problem 6-21
b. Adjusting entries:
69
Problem 6-22
Adjusting entries:
Problem 6-23
70
Adjusting entries:
Problem 6-24
Adjusting entries:
Problem 6-25
71
Balance per bank 1,200,000
Add: Undeposited collections 275,000
Total 1,475,000
Less: Outstanding checks:
Number 761 55,000
762 40,000
763 25,000
764 65,000
765 50,000
235,000
Adjusted bank balance 1,240,000
Adjusting entries:
Problem 6-26
72
Bank balance 2,650,000
Add: Deposit in transit 1,100,000
Total
3,750,000
Less: Outstanding checks 1,851,000
Adjusted bank balance 1,899,000
Problem 6-27
a. Reconciliation – October 31
Reconciliation – November 30
74
Problem 6-28
a. Reconciliation on July 1
75
Computation of outstanding checks – July 1
Problem 6-29
Adjusting entry:
76
Problem 6-30
Problem 6-31
77
Problem 6-32
Adjusting entry:
78
Problem 6-33
Sept. 30 Receipts
Disbursements Oct. 31
Problem 6-34