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uiz Saved McDermott Company's bank statement for September 30 showed an ending cash balance of $1,574. The company's Cash account in Its general ledger showed a $1,235 debit balance. The following information was also available as of September 30. The bank deducted $205 for an NSF check from a customer deposited on September 15 The September 30 cash recelpts, $1,410, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement A $31 debit memorandum for checks printed by the bank was Included with the canceled checks. Outstanding checks amounted to $1,385. Included with the bank statement was a credit memo in the amount of $955 for an EFT in payment of a customer's account. Included with the canceled checks was a check for $355, drawn on the account of another company. E Required: a. Prepare a bank reconciliation as of September 30. b. Prepare the journal entries for the items on the company's bank reconciliation as of September 30. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a bank reconciliation as of September 30. McDermott Company Bank Reconciliation At September 30 Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per Books Additions: Additions: 0 Deductions: Deductions: 0 Up-to-date ending cash balance Up-to-date ending cash balance Prey 1 of 5 Next> e here to search X

uiz Saved McDermott Company's bank statement for September 30 showed an ending cash balance of $1,574. The company's Cash account in Its general ledger showed a $1,235 debit balance. The following information was also available as of September 30. The bank deducted $205 for an NSF check from a customer deposited on September 15 The September 30 cash recelpts, $1,410, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement A $31 debit memorandum for checks printed by the bank was Included with the canceled checks. Outstanding checks amounted to $1,385. Included with the bank statement was a credit memo in the amount of $955 for an EFT in payment of a customer's account. Included with the canceled checks was a check for $355, drawn on the account of another company. E Required: a. Prepare a bank reconciliation as of September 30. b. Prepare the journal entries for the items on the company's bank reconciliation as of September 30. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a bank reconciliation as of September 30. McDermott Company Bank Reconciliation At September 30 Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per Books Additions: Additions: 0 Deductions: Deductions: 0 Up-to-date ending cash balance Up-to-date ending cash balance Prey 1 of 5 Next> e here to search X

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 1PA
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uiz Saved McDermott Company's bank statement for September 30 showed an ending cash balance of $1,574. The company's Cash account in Its general ledger showed a $1,235 debit balance. The following information was also available as of September 30. The bank deducted $205 for an NSF check from a customer deposited on September 15 The September 30 cash recelpts, $1,410, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement A $31 debit memorandum for checks printed by the bank was Included with the canceled checks. Outstanding checks amounted to $1,385. Included with the bank statement was a credit memo in the amount of $955 for an EFT in payment of a customer's account. Included with the canceled checks was a check for $355, drawn on the account of another company. E Required: a. Prepare a bank reconciliation as of September 30. b. Prepare the journal entries for the items on the company's bank reconciliation as of September 30. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a bank reconciliation as of September 30. McDermott Company Bank Reconciliation At September 30 Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per Books Additions: Additions: 0 Deductions: Deductions: 0 Up-to-date ending cash balance Up-to-date ending cash balance Prey 1 of 5 Next> e here to search X
Transcribed Image Text:uiz Saved McDermott Company's bank statement for September 30 showed an ending cash balance of $1,574. The company's Cash account in Its general ledger showed a $1,235 debit balance. The following information was also available as of September 30. The bank deducted $205 for an NSF check from a customer deposited on September 15 The September 30 cash recelpts, $1,410, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement A $31 debit memorandum for checks printed by the bank was Included with the canceled checks. Outstanding checks amounted to $1,385. Included with the bank statement was a credit memo in the amount of $955 for an EFT in payment of a customer's account. Included with the canceled checks was a check for $355, drawn on the account of another company. E Required: a. Prepare a bank reconciliation as of September 30. b. Prepare the journal entries for the items on the company's bank reconciliation as of September 30. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a bank reconciliation as of September 30. McDermott Company Bank Reconciliation At September 30 Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per Books Additions: Additions: 0 Deductions: Deductions: 0 Up-to-date ending cash balance Up-to-date ending cash balance Prey 1 of 5 Next> e here to search X
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