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.

Business   Accounting   
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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

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