Question

Help Center immel, Financial Accounting, 8e Help System Announcements xercise 7-9 his information relates to the Cash account in the ledger of Oriole Company Balance September 1-$20,570; Cash deposited-$64,000 Balance September 30-$21,770; Checks written-$62,800 The September bank statement shows a balance of $20,670 at September 30 and the following memoranda. Credits Collection of electronic funds transfer Interest earned on checking account $2,400 60 Debits NSF check: H. Kane Safety deposit box rent $1,130 75 At September 30, deposits in transit were $5,323 and outstanding checks totaled $2,968. Prepare the bank reconciliation at September 30, 2017. (List Items that increase balance as per bank & books ORIOLE COMPANY Bank Reconciliation September 30, 2017 Cash balance per bank statement Add . Deposits in transit Less - Outstanding checks Adjusted cash balance per bank Cash balance per books Add : interest earned LG

Answer 1

ORIOLE COMPANY BANK RECONCILIATION SEPTEMBER 30, 2017. $ 20,670.00 Cash Balance as per Bank Statement Add: $ 5,323.00 Deposit in transit 25,993.00 Less $ 2,968.00 Outstanding checks Adjusting cash balance per Bank $23,025.00 Cash Balance as per Books 21,770.00 Add $ Collection of electric funds transfer 2,400.00 $ Interest earned on checking account 60.00 $ 2,460.00 24,230.00 Less NSF Check H kane 1,130.00 $ Safety Deposit Box rent 75.00 $ 1,205.00 $23,025.00 Adjusting cash balance per Bank