Question

The information below relates to the Cash account in the ledger of Remington Company. Balance September...

The information below relates to the Cash account in the ledger of Remington Company.

Balance September 1--- $25,725; Cash deposited--- $96,000

Balance September 30--- $26,100 Checks written--- $ 95,620

The September bank statement shows a balance of $24,635 on September 30 and the following memoranda.

Credit Debits

Electronic payment from customer $2,300 NFS check: J. E. Hoover $635

Interest earned on checking account $65 Bank Charges $75

At September 30, deposits in transit were $6,695, and outstanding checks totaled $3,575.

Instructions

Prepare bank reconciliation at September 30.

Homework Answers

Answer #1
Remington Company
Bank Reconciliation
September 30,  
Balance as per bank statement $ 24,635 Balance as per book statement $ 26,100
Add: Add:
Deposit in transit $ 6,695 Electronic transfer $ 2,300
$    6,695 Interest income 65
$    2,365
Deduct: Deduct:
Outstanding checks   $ 3,575 NSF Check $     635
$    3,575 Bank charges $        75
$        710
Adjusted bank balance $ 27,755 Adjusted book balance $ 27,755

You can reach me over comment box if you have any doubts. Please rate this answer

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The information below relates to the Cash account in the ledger of Remington Company. Balance September...
The information below relates to the Cash account in the ledger of Remington Company. Balance September 1--- $25,725; Cash deposited--- $96,000 Balance September 30--- $26,100 Checks written--- $ 95,620 The September bank statement shows a balance of $24,635 on September 30 and the following memoranda. Credit Debits Electronic payment from customer $2,300 NFS check: J. E. Hoover $635 Interest earned on checking account $65 Bank Charges $75 At September 30, deposits in transit were $6,695, and outstanding checks totaled $3,575....
The information below relates to the Cash account in the ledger of Tamarisk Company. Balance September...
The information below relates to the Cash account in the ledger of Tamarisk Company. Balance September 1—$17,220; Cash deposited—$64,250. Balance September 30—$18,344; Checks written—$63,126. The September bank statement shows a balance of $17,362 on September 30 and the following memoranda. Credits Debits Collection of $1,962 note plus interest $38 $2,000 NSF check: Richard Nance $895 Interest earned on checking account $53 Safety deposit box rent $73 At September 30, deposits in transit were $4,920, and outstanding checks totaled $2,853. Prepare...
The information below relates to the Cash account in the ledger of Swifty Corporation. Balance September...
The information below relates to the Cash account in the ledger of Swifty Corporation. Balance September 1—$17,260; Cash deposited—$64,410. Balance September 30—$18,204; Checks written—$63,466. The September bank statement shows a balance of $17,222 on September 30 and the following memoranda. Credits Debits Collection of $1,893 note plus interest $37 $1,930 NSF check: Richard Nance $825 Interest earned on checking account $52 Safety deposit box rent $72 At September 30, deposits in transit were $4,850, and outstanding checks totaled $2,783. (a)
This information relates to the Cash account in the ledger of Oriole Company.           Balance September 1—$17,190;...
This information relates to the Cash account in the ledger of Oriole Company.           Balance September 1—$17,190; Cash deposited—$64,000           Balance September 30—$18,390; Checks written—$62,800 The September bank statement shows a balance of $17,290 at September 30 and the following memoranda. Credits Debits Collection from customer of electronic funds transfer $2,130 NSF check: H. Kane $860 Interest earned on checking account 60 Safety deposit box rent 75 At September 30, deposits in transit were $5,053 and outstanding checks totaled $2,698. Prepare the...
The balance in Happ, Inc.’s general ledger Cash account was $13,200 at September 30, before reconciliation....
The balance in Happ, Inc.’s general ledger Cash account was $13,200 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $11,830. Reconciling items included deposits in transit, $1,270; bank service charges, $105; NSF check written by a customer and returned with the bank statement, $520; outstanding checks, $450; and interest credited to the account during September but not recorded on the company’s books, $75. Required: Prepare a bank reconciliation as of September 30 for...
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             ...
Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK...
Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 6,500 Deposits during June $ 16,200 22,700 Checks cleared during June $ 16,600 6,100 Bank service charges 40 6,060 Balance, June 30 6,060 Cash (A) June 1 Balance 6,500   June Checks written 19,000 June Deposits 18,100 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,476. The company's...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,476. The company's Cash account in its general ledger showed a $1,130 debit balance. The following information was also available as of September 30. The bank deducted $170 for an NSF check from a customer deposited on September 15. The September 30 cash receipts, $1,340, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September...
[The following information applies to the questions displayed below.] The September bank statement and cash T-account...
[The following information applies to the questions displayed below.] The September bank statement and cash T-account for Terrick Company follow: BANK STATEMENT Date Checks Deposits Other Balance Sept. 1        $ 89,900 2        $ 760 89,140 4        3,400 85,740 6        2,200 83,540 11        440 $15,000 98,100 13        790 97,310 17        11,400 85,910 23        160 34,000 119,750 26        840 118,910 28        9,400 109,510 29        870 17,500   NSF* $ 640 125,500 30        540   Interest earned 200 125,160 30          Service charge 50 125,110 *NSF...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,462. The company's...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,462. The company's Cash account in its general ledger showed a $1,115 debit balance. The following information was also available as of September 30. • The bank deducted $165 for an NSF check from a customer deposited on September 15. • The September 30 cash receipts, $1,330, were placed in the bank's night depository after banking hours on that date and this amount did not appear on...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT