Homework Answers
| Bank reconciliation statement | ||||||||
| Company's book | bank statement | |||||||
| Balance as per books | 6850 | balance as per bank statement | 6718 | |||||
| additions: | 0 | additions: | ||||||
| Deposits in transit (28550-26550) | 2300 | 2300 | ||||||
| Deductions: | Deductions; | |||||||
| NSF checks -batty brown | 180 | checks outstanding (29300-26900) | 2400 | 2400 | ||||
| Bank charges | 52 | 232 | ||||||
| Correct cash balance | 6618 | correct cash balance | 6618 | |||||
| Balance as per books = 7300+28850-29300 = 6850 | ||||||||
| 2) Journal entires | ||||||||
| Transaction | General journal | Debit | credit | |||||
| 1 | accpunts receivable | 180 | ||||||
| bank charges | 52 | |||||||
| cash | 232 | |||||||
| 3) balance in cash account be after reconciliation entries = $6618 | ||||||||
| 4) cash should be report on september 30 balance sheet = $6618 | ||||||||
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