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1. Prepare the September 30, 2017, bank reconciliation for this company.

1. Prepare the September 30, 2017, bank reconciliation for this company.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
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Cash Acct. No. 101 Explanation Aug. 31 Balance Sept. 30 Total receipts Date PR Debit Credit Balance 16,946 28,761 19,204 R12 11,815 30 Total disbursements D23 9,557 Additional Information Check No. 5904 is correctly drawn for $2,127 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,088. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,650 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded. Problem 8-5A Part 1 Required: 1. Prepare the September 30, 2017, bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30, 2017 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance 2$ 0 Adjusted book balance $
Transcribed Image Text:Cash Acct. No. 101 Explanation Aug. 31 Balance Sept. 30 Total receipts Date PR Debit Credit Balance 16,946 28,761 19,204 R12 11,815 30 Total disbursements D23 9,557 Additional Information Check No. 5904 is correctly drawn for $2,127 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,088. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum is from the collection of a $1,650 note for Chavez Company by the bank. The bank deducted a $18 collection fee. The collection and fee are not yet recorded. Problem 8-5A Part 1 Required: 1. Prepare the September 30, 2017, bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30, 2017 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance 2$ 0 Adjusted book balance $
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,056 and No. 5893 for $498. The following information is available for its September 30, 2017, reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,500 9,829 11,701 20,372 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 5888 09/05 09/12 09/21 1,056 1,185 2,223 4,272 2,368 09/04 5902 708 09/07 09/17 5901 1,818 09/25 09/30 09/30 666NSF 09/20 5905 917 21IN 09/22 5903 437 1,632CM 09/22 5904 2,127 09/28 5907 221 09/29 5909 1,879 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 12 1,185 2,223 4,272 2,368 1,767 21 25 30 11,815 Cash Disbursements Cash Check No. Credit 1,818 708 5901 5902 5903 437 5904 2,088 5905 917 5906 1,048 5907 221 5908 441 5909 1,879
Transcribed Image Text:Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,056 and No. 5893 for $498. The following information is available for its September 30, 2017, reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,500 9,829 11,701 20,372 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 5888 09/05 09/12 09/21 1,056 1,185 2,223 4,272 2,368 09/04 5902 708 09/07 09/17 5901 1,818 09/25 09/30 09/30 666NSF 09/20 5905 917 21IN 09/22 5903 437 1,632CM 09/22 5904 2,127 09/28 5907 221 09/29 5909 1,879 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 12 1,185 2,223 4,272 2,368 1,767 21 25 30 11,815 Cash Disbursements Cash Check No. Credit 1,818 708 5901 5902 5903 437 5904 2,088 5905 917 5906 1,048 5907 221 5908 441 5909 1,879
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