Question

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

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: 

1. Prepare a bank reconciliation. 

Answer 1

CADIEUX COMPANY
Bank Reconciliation
September 30
Bank Statement balance		$      365	Book balance		$   3,190
Add:			Add: EFT receipt	$   195
Deposit in transit	$   2,950				$      195
		$   2,950	Deduct:
			service charges	$     20
Deduct: Checks outstanding	$         50		NSF Cheque	$   100
		$         50			$      120
Upto date cash balance		$   3,265	Upto date cash balance		$   3,265

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