Required information E5-6 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, September 1 $ 2,060 September 7 NSF check $ 100 1,960 September 11 $ 3,090 5,050 September 12 #101 $ 830 4,220 September 17 #102 1,760 2,460 September 26 #103 2,330 130 September 29 EFT deposit 165 295 September 30 Service charge 20 275 Cash (A) Sep 1 Balance 2,060 Sep 10 3,090 830 Sep 10 #101 Sep 30 2,650 1,760 Sep 15 #102 2,330 Sep 22 #103 50 Sep 28 #104 Sep 30 Balance 2,830 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company’s customers. E5-6 Part 4 If the company also has $460 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?
Required information E5-6 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, September 1 $ 2,060 September 7 NSF check $ 100 1,960 September 11 $ 3,090 5,050 September 12 #101 $ 830 4,220 September 17 #102 1,760 2,460 September 26 #103 2,330 130 September 29 EFT deposit 165 295 September 30 Service charge 20 275 Cash (A) Sep 1 Balance 2,060 Sep 10 3,090 830 Sep 10 #101 Sep 30 2,650 1,760 Sep 15 #102 2,330 Sep 22 #103 50 Sep 28 #104 Sep 30 Balance 2,830 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company’s customers. E5-6 Part 4 If the company also has $460 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 47E
Related questions
Question
Required information
E5-6 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4]
[The following information applies to the questions displayed below.]
The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here:
BANK STATEMENT | ||||||||||||||
Checks | Deposits | Other | Balance | |||||||||||
Balance, September 1 | $ | 2,060 | ||||||||||||
September 7 | NSF check | $ | 100 | 1,960 | ||||||||||
September 11 | $ | 3,090 | 5,050 | |||||||||||
September 12 | #101 | $ | 830 | 4,220 | ||||||||||
September 17 | #102 | 1,760 | 2,460 | |||||||||||
September 26 | #103 | 2,330 | 130 | |||||||||||
September 29 | EFT deposit | 165 | 295 | |||||||||||
September 30 | Service charge | 20 | 275 | |||||||||||
Cash (A) | |||||
Sep 1 | Balance | 2,060 | |||
Sep 10 | 3,090 | 830 | Sep 10 | #101 | |
Sep 30 | 2,650 | 1,760 | Sep 15 | #102 | |
2,330 | Sep 22 | #103 | |||
50 | Sep 28 | #104 | |||
Sep 30 | Balance | 2,830 |
No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company’s customers.
E5-6 Part 4
-
If the company also has $460 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning