Chapter 1 Problem 4-22 to 38
Problem 4-22 Answer A
Balance per book 4,000,000
Bank charges ( 10,000)
Customer note collected by bank 1,500,000
Interest on customer note 60,000
NSF customer check ( 250,000)
Depositor’s note charged to account (1,000,000)
Adjusted book balance 4,300,000
Problem 4-23 Answer B
Balance per bank 2,000,000
Add: Deposit in transit 200,000
Total 2,200,000
Less: Outstanding checks 400,000
Erroneous bank credit 300,000 700,000
Adjusted bank balance 1,500,000
The adjusted cash in bank can also be computed by starting with the balance per book.
Balance per book 850,000
Add: Proceeds of note collected 750,000
Total 1,600,000
Less: NSF checks (150,000 – 50,000) 100,000
Adjusted book balance 1,500,000
Problem 4-24 Answer C
Balance per book 8,500,000
Note collected by bank 950,000
Book error (200,000 – 20,000) ( 180,000)
NSF check ( 250,000)
Bank service charge ( 20,000)
Adjusted book balance 9,000,000
Problem 4-25 Answer A
Problem 4-26 Answer B
Problem 4-27 Answer B
Problem 4-28 Answer D
Balance per ledger 3,750,000
Service charges ( 50,000)
Collection of note 1,500,000
Book error ( 100,000)
Unrecorded check for traveling expenses ( 500,000)
Adjusted book balance 4,600,000
Balance per bank 6,200,000
Deposit in transit 1,400,000
Total 7,600,000
Outstanding checks (squeeze) 3,000,000
Adjusted bank balance 4,600,000
Problem 4-29 Answer B
Problem 4-30 Answer A
Problem 4-31 Answer C
Outstanding checks – May 31 3,000,000
Checks issued by depositor in June:
Total credits to cash in June 9,000,000
Service charge in May recorded in June ( 100,000) 8,900,000
Total 11,900,000
Checks paid by bank in June:
Checks and charges by bank in June 8,000,000
Service charge in June ( 50,000)
NSF check in June (1,000,000) 6,950,000
Outstanding checks – June 30 4,950,000
Problem 4-32 Answer A
Balance per book – June 30 2,100,000
Service charges ( 50,000)
Collection by bank 550,000
NSF check ( 100,000)
Adjusted book balance 2,500,000
Balance per bank – June 30 2,400,000
Deposits outstanding – June 30 500,000
Checks outstanding – June 30 ( 400,000)
Adjusted bank balance 2,500,000
Outstanding checks – May 31 100,000
Checks recorded by book in June 2,500,000
Total 2,600,000
Less: Checks recorded by bank in June 2,200,000
Outstanding checks – June 30 400,000
Deposits outstanding – May 31 300,000
Deposits recorded by book in June 1,800,000
Total 2,100,000
Less: Deposits recorded by bank in June 1,600,000
Deposits outstanding – June 30 500,000
Problem 4-33 Answer A
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
Problem 4-34 Answer A
Problem 4-35 Answer A
Problem 4-36 Answer D
Balance per bank – November 30 3,600,000
December deposits 5,500,000
Total 9,100,000
December disbursements (4,400,000)
Balance per bank – December 31 4,700,000
Deposit in transit – December 700,000
Outstanding checks – December ( 500,000)
Adjusted bank balance – December 31 4,900,000
Balance per book – December 31 (squeeze) 4,300,000
Note collected by bank 1,000,000
NSF check ( 350,000)
Service charge ( 50,000)
Adjusted book balance 4,900,000
Problem 4-37 Answer A
Bank disbursements for July 9,000,000
Outstanding checks – June 30 (1,400,000) Outstanding checks – July 31 1,000,000
Book disbursements for July 8,600,000
Problem 4-38 Answer B
Bank receipts for April 6,000,000
Deposits in transit – March 31 (1,000,000)
Deposits in transit – April 30 1,500,000
Book receipts for April 6,500,000
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