Question

The September 30 bank statement for Cadieux Company and the September ledger account for cash are...

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.

CADIEUX COMPANY
Bank Reconciliation
September 30
Bank Statement Company's Books
Ending Balance per Bank Statement Ending Balance per Cash Account
Additions: Additions:
Deductions: Deductions:
Up-to-Date Cash Balance Up-to-Date Cash Balance

Homework Answers

Answer #1

Solution :

Cadieux Company
Bank Reconciliation - September 30
Bank's Cash balance Company's cash balance
Particulars Amount Particulars Amount
Ending balance as per Bank Statements $275.00 Ending Balance as per cash books $2,830.00
Additions: Additions:
Outstanding cash receipt $2,650.00 EFT Deposit $165.00
Deductions: Deductions:
Outstanding Check (Check no 104) $50.00 NSF Check $100.00
Service Charge $20.00
Up to date cash balance as per bank $2,875.00 Up to date cash balance as per books $2,875.00
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