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on app to the questions displayed below] Chevez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Deposits September 1 September 3 Description Check #5888 Check #5902 Cash deposit Check #5901 Cash deposit NSP check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check #5909 Collected note Interest earned Withdrawals $ 1,093 $ 789 $ 1,835 $ 606 $ 917 September 5 September 7 September 12 September 17 September 206 September 21 September 22 September 22 September 25 September 28 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited $ 421 $ 2,104 $ 265 $ 1,867 $ 1,183 $ 2,294 $4,047 $ 2,314 $ 1,590 $ 18 Balance $ 18,000 $ 16,907 $ 16,118 $ 17,301 C $ 15,466 $ 17,760 $ 17,154 VALEN $ 16,237 7431 $ 20,284 $ 19,863 $ 17,759 $ 20,073 $ 19,808 $ 17,941 $ 19,531 $ 19,549

on app to the questions displayed below] Chevez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Deposits September 1 September 3 Description Check #5888 Check #5902 Cash deposit Check #5901 Cash deposit NSP check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check #5909 Collected note Interest earned Withdrawals $ 1,093 $ 789 $ 1,835 $ 606 $ 917 September 5 September 7 September 12 September 17 September 206 September 21 September 22 September 22 September 25 September 28 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited $ 421 $ 2,104 $ 265 $ 1,867 $ 1,183 $ 2,294 $4,047 $ 2,314 $ 1,590 $ 18 Balance $ 18,000 $ 16,907 $ 16,118 $ 17,301 C $ 15,466 $ 17,760 $ 17,154 VALEN $ 16,237 7431 $ 20,284 $ 19,863 $ 17,759 $ 20,073 $ 19,808 $ 17,941 $ 19,531 $ 19,549

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.5.3C
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The following information applies to the questions displayed below] Chaves Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Beptember 12 September 17 September 20 September 21 Beptember 22 September 22 September 25 September 12 September 21 September 25 September 30 September 29 September 36 September 36 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date September 5 Check Number 5901 Cash deposit Cash deposit Check #5965 Cash deposit Check $5900 Cach Payments 5903 FI Cash deposit Check #5907 Check #5909 Collected note 5905 5907 4,047 1,779 11,617 Cash Credit cach Explanation Balance August 31 September 30 Total receipts September 30 Total payments 9,536 2 # 1,835 F2 $ 1,867 # 3 PR D23 80 Deposits $ 1,183 F3 $ 1,590 $18 Additional Information (a) Check Number 5904 is correctly drawn for $2,104 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 $2,066. Debit 11,617 (b) 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. (c) The collection of the note on September 30 is not yet recorded by the company. Balance Account Number 101 Credit $ 19,808 9,536 000 000 $ 4 28,021 18,485 25 % FS < Prev < NS MacBook Air 6 of 2 F6 & Next 7 F7 ▶HI 8 FO
Transcribed Image Text:The following information applies to the questions displayed below] Chaves Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,093 and Number 5893 for $503. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Beptember 12 September 17 September 20 September 21 Beptember 22 September 22 September 25 September 12 September 21 September 25 September 30 September 29 September 36 September 36 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date September 5 Check Number 5901 Cash deposit Cash deposit Check #5965 Cash deposit Check $5900 Cach Payments 5903 FI Cash deposit Check #5907 Check #5909 Collected note 5905 5907 4,047 1,779 11,617 Cash Credit cach Explanation Balance August 31 September 30 Total receipts September 30 Total payments 9,536 2 # 1,835 F2 $ 1,867 # 3 PR D23 80 Deposits $ 1,183 F3 $ 1,590 $18 Additional Information (a) Check Number 5904 is correctly drawn for $2,104 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 $2,066. Debit 11,617 (b) 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. (c) The collection of the note on September 30 is not yet recorded by the company. Balance Account Number 101 Credit $ 19,808 9,536 000 000 $ 4 28,021 18,485 25 % FS < Prev < NS MacBook Air 6 of 2 F6 & Next 7 F7 ▶HI 8 FO
Graw Beptember 35 total zmonipte total perpent Additional Information (a) Check Number 5904 is correctly drawn for $2,104 to pay for computer equipment, however, the recordkeeper misread $2,066. the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of (b) 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. (c) The collection of the note on September 30 is not yet recorded by the company. Problem 6-5A (Algo) Part 2 2. Prepare journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Note: Enter debits before credits. September 30 FI Record the entry related to the September 30 deposit, if required. Record entry 3 @ 2 4 F2 6 General Journal 3 80 F3 Debit View general Journal 000 000 F4 Gradit $ 45 > % 5 FS < Prev < NG MacBook Air 6 of 2 F6 & 7 Next F7 8 FO
Transcribed Image Text:Graw Beptember 35 total zmonipte total perpent Additional Information (a) Check Number 5904 is correctly drawn for $2,104 to pay for computer equipment, however, the recordkeeper misread $2,066. the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of (b) 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. (c) The collection of the note on September 30 is not yet recorded by the company. Problem 6-5A (Algo) Part 2 2. Prepare journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Note: Enter debits before credits. September 30 FI Record the entry related to the September 30 deposit, if required. Record entry 3 @ 2 4 F2 6 General Journal 3 80 F3 Debit View general Journal 000 000 F4 Gradit $ 45 > % 5 FS < Prev < NG MacBook Air 6 of 2 F6 & 7 Next F7 8 FO
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