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PR 7 - 4 B Bank reconciliation and entries Obj. 5 The cash account for Collegiate Sports Co . on November 1 , 2 0
PR B Bank reconciliation and entries Obj. The cash account for Collegiate Sports Co on November Y indicated a balance of $ During November, the total cash deposited was $ and checks written totaled $ The bank statement indicated a balance of $ on November Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a Checks outstanding totaled $ b A deposit of $ representing receipts of November had been made too late to appear on the bank statement. c A check for $ had been incorrectly charged by the bank as $ d A check for $ returned with the statement had been recorded by Collegiate Sports Co as $ The check was for the payment of an obligation to Ramirez Co on account. e The bank had collected for Collegiate Sports Co $ on a note left for collection. The face of the note was $ f Bank service charges for November amounted to $ g A check for $ from Hallen Academy was returned by the bank because of insufficient funds. Instructions Prepare a bank reconciliation as of November Journalize the necessary entries. If a balance sheet were prepared for Collegiate Sports Co on November Y what amount should be reported as cash?
PR B Bank reconciliation and entries
Obj.
The cash account for Collegiate Sports Co on November Y indicated a balance of $ During November, the total cash deposited was $ and checks written totaled $ The bank statement indicated a balance of $ on November Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
a Checks outstanding totaled $
b A deposit of $ representing receipts of November had been made too late to appear on the bank statement.
c A check for $ had been incorrectly charged by the bank as $
d A check for $ returned with the statement had been recorded by Collegiate Sports Co as $ The check was for the payment of an obligation to Ramirez Co on account.
e The bank had collected for Collegiate Sports Co $ on a note left for collection. The face of the note was $
f Bank service charges for November amounted to $
g A check for $ from Hallen Academy was returned by the bank because of insufficient funds.
Instructions
Prepare a bank reconciliation as of November
Journalize the necessary entries.
If a balance sheet were prepared for Collegiate Sports Co on November Y what amount should be reported as cash?
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