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9966 [12]
3 years ago
7

The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMEN

T Checks Deposits Other Balance Balance, September 1 $ 2,200 September 7 NSF check $ 100 2,100 September 11 $ 3,300 5,400 September 12 #101 $ 900 4,500 September 17 #102 1,900 2,600 September 26 #103 2,400 200 September 29 EFT deposit 200 400 September 30 Service charge 20 380 Cash (A) Sep 1 Balance 2,200 Sep 10 3,300 900 Sep 10 #101 Sep 30 3,000 1,900 Sep 15 #102 2,400 Sep 22 #103 50 Sep 28 #104 Sep 30 Balance 3,250 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. Required: Prepare a bank reconciliation.
Business
1 answer:
qaws [65]3 years ago
8 0

Answer:

Bank account reconciliation:

Bank balance $380

+ deposits in transit $3,000

<u>- outstanding checks ($50)</u>

reconciled bank balance $3,330

Cash account reconciliation:

Cash balance $3,250

- NSF check ($100)

+ EFT deposit $200

<u>- bank fees ($20)</u>

reconciled cash account $3,330

Explanation:

<u>Bank statement </u>

                                        Checks      Deposits      Other                Balance

Balance, September 1                                                                       2,200

September 7                                                      NSF check 100       2,100

September 11                                      3,300                                      5,400

September 12 #101           900                                                           4,500

September 17 #102        1,900                                                           2,600

September 26 #103      2,400                                                           200

September 29                                                     EFT deposit 200   400

September 30                                                  Service charge 20   380

<u>Cash account</u>

Sep 1 Balance 2,200

Sep 10                                        3,300                 900           Sep 10 #101

Sep 30                                       3,000                 1,900         Sep 15 #102      

                                                                             2,400         Sep 22 #103

                                                                             50              Sep 28 #104

Sep 30 Balance                         3,250

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