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have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance, April 1, Current Year Balance $31,100 $36,200 67,300 Deposits during April Interest collected 1,300 68,600 $45,300 Checks cleared during April NSF check-A. B. Wright 23,300 260 23,040 Bank service charges 120 22,920 22,920 Balance, April 30, Current Year Cash (A) Apr. 1 Balance 41,500 24,700 Apr. Checks written. 42,800 Apr. Deposits A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $2,600 (including $1,560 written before and $1,040 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.

have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance, April 1, Current Year Balance $31,100 $36,200 67,300 Deposits during April Interest collected 1,300 68,600 $45,300 Checks cleared during April NSF check-A. B. Wright 23,300 260 23,040 Bank service charges 120 22,920 22,920 Balance, April 30, Current Year Cash (A) Apr. 1 Balance 41,500 24,700 Apr. Checks written. 42,800 Apr. Deposits A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $2,600 (including $1,560 written before and $1,040 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.

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 5DQ
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3. What was the balance in the cash account in the ledger on May 1, Current Year? Cash balance 4. What total amount of cash should be reported on the balance sheet at the end of April? Total amount of cash
Transcribed Image Text:3. What was the balance in the cash account in the ledger on May 1, Current Year? Cash balance 4. What total amount of cash should be reported on the balance sheet at the end of April? Total amount of cash
! Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance $31,100 Balance, April 1, Current Year Deposits during April $36,200 67,300 Interest collected 1,300 68,600 Checks cleared during April $45,300 23,300 NSF check-A. B. Wright 23,040 260 120 Bank service charges 22,920 22,920 Balance, April 30, Current Year Cash (A) Apr. 1 Balance 41,500 24,700 Apr. Checks written 42,800 Apr. Deposits A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $2,600 (including $1,560 written before and $1,040 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance $31,100 Balance, April 1, Current Year Deposits during April $36,200 67,300 Interest collected 1,300 68,600 Checks cleared during April $45,300 23,300 NSF check-A. B. Wright 23,040 260 120 Bank service charges 22,920 22,920 Balance, April 30, Current Year Cash (A) Apr. 1 Balance 41,500 24,700 Apr. Checks written 42,800 Apr. Deposits A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $2,600 (including $1,560 written before and $1,040 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.
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