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The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT ChecksDepositsOtherBalanceBalance, September 1           $1,800 September 7       NSF check$90  1,710 September 11    $2,700      4,410 September 12#101$700         3,710 September 17#102 1,500         2,210 September 26#103 2,200         10 September 29       EFT deposit 100  110 September 30       Service charge 10  100   Cash (A)Sep 1Balance1,800   Sep 10 2,700700Sep 10#101Sep 30 2,0001,500Sep 15#102   2,200Sep 22#103   40Sep 28#104Sep 30Balance2,060    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. How would i fill out the bank reconcilliation for this problem?

Question

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                       $ 1,800  
September 7               NSF check $ 90     1,710  
September 11         $ 2,700             4,410  
September 12 #101 $ 700                   3,710  
September 17 #102   1,500                   2,210  
September 26 #103   2,200                   10  
September 29               EFT deposit   100     110  
September 30               Service charge   10     100  
 

 

Cash (A)
Sep 1 Balance 1,800      
Sep 10   2,700 700 Sep 10 #101
Sep 30   2,000 1,500 Sep 15 #102
      2,200 Sep 22 #103
      40 Sep 28 #104
Sep 30 Balance 2,060      

 

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.

 

How would i fill out the bank reconcilliation for this problem?

check_circleAnswer
Step 1

Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

Step 2

Prepare the bank reconcilia...

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