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This information relates to the Cash account in the ledger of Cullumber Company. Balance September 1-$16,660; Cash deposited-$64,000 Balance September 30-$17,860; Checks written-$62,800 The September bank statement shows a balance of $16,760 at September 30 and the following memoranda. Credits Debits Collection of electronic funds transfer NSF check: H. $1,990 $720 Kane Interest earned on Safety deposit box rent 55 70 checking account At September 30, deposits in transit were $4,908 and outstanding checks totaled $2,553. Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.) CULLUMBER COMPANY Bank Reconciliation $1 $4 Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 (To record electronic funds transfer received by bank) Sept. 30 (To record Interest earned on checking account) Sept. 30 (To record NSF check) Sept. 30 (To record charges for safety deposit box rent)

This information relates to the Cash account in the ledger of Cullumber Company. Balance September 1-$16,660; Cash deposited-$64,000 Balance September 30-$17,860; Checks written-$62,800 The September bank statement shows a balance of $16,760 at September 30 and the following memoranda. Credits Debits Collection of electronic funds transfer NSF check: H. $1,990 $720 Kane Interest earned on Safety deposit box rent 55 70 checking account At September 30, deposits in transit were $4,908 and outstanding checks totaled $2,553. Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.) CULLUMBER COMPANY Bank Reconciliation $1 $4 Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 (To record electronic funds transfer received by bank) Sept. 30 (To record Interest earned on checking account) Sept. 30 (To record NSF check) Sept. 30 (To record charges for safety deposit box rent)

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 4PB
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This information relates to the Cash account in the ledger of Cullumber Company. Balance September 1-$16,660; Cash deposited-$64,000 Balance September 30-$17,860; Checks written-$62,800 The September bank statement shows a balance of $16,760 at September 30 and the following memoranda. Credits Debits Collection of electronic funds transfer NSF check: H. $1,990 $720 Kane Interest earned on Safety deposit box rent 55 70 checking account At September 30, deposits in transit were $4,908 and outstanding checks totaled $2,553. Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.) CULLUMBER COMPANY Bank Reconciliation $1 $4
Transcribed Image Text:This information relates to the Cash account in the ledger of Cullumber Company. Balance September 1-$16,660; Cash deposited-$64,000 Balance September 30-$17,860; Checks written-$62,800 The September bank statement shows a balance of $16,760 at September 30 and the following memoranda. Credits Debits Collection of electronic funds transfer NSF check: H. $1,990 $720 Kane Interest earned on Safety deposit box rent 55 70 checking account At September 30, deposits in transit were $4,908 and outstanding checks totaled $2,553. Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.) CULLUMBER COMPANY Bank Reconciliation $1 $4
Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 (To record electronic funds transfer received by bank) Sept. 30 (To record Interest earned on checking account) Sept. 30 (To record NSF check) Sept. 30 (To record charges for safety deposit box rent)
Transcribed Image Text:Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 (To record electronic funds transfer received by bank) Sept. 30 (To record Interest earned on checking account) Sept. 30 (To record NSF check) Sept. 30 (To record charges for safety deposit box rent)
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