Required information
[The following information applies to the questions
displayed below.]
Chavez Company most recently reconciled its bank statement and
book balances of cash on August 31 and it reported two checks
outstanding, No. 5888 for $1,095 and No. 5893 for $516. Check No.
5893 was still outstanding as of September 30. The following
information is available for its September 30 reconciliation.
From the September 30 Bank Statement
PREVIOUS BALANCE | TOTAL CHECKS AND DEBITS | TOTAL DEPOSITS AND CREDITS | CURRENT BALANCE |
18,000 | 9,864 | 11,597 | 19,733 |
CHECKS AND DEBITS | DEPOSITS AND CREDITS | ||||||
Date | No. | Amount | Date | Amount | |||
09/03 | 5888 | 1,095 | 09/05 | 1,196 | |||
09/04 | 5902 | 734 | 09/12 | 2,263 | |||
09/07 | 5901 | 1,807 | 09/21 | 4,257 | |||
09/17 | 622 | NSF | 09/25 | 2,314 | |||
09/20 | 5905 | 991 | 09/30 | 17 | IN | ||
09/22 | 5903 | 365 | 09/30 | 1,550 | CM | ||
09/22 | 5904 | 2,083 | |||||
09/28 | 5907 | 278 | |||||
09/29 | 5909 | 1,889 | |||||
From Chavez Company’s Accounting Records
Cash Receipts Deposited | ||||
Date | Cash Debit |
|||
Sept. | 5 | 1,196 | ||
12 | 2,263 | |||
21 | 4,257 | |||
25 | 2,314 | |||
30 | 1,764 | |||
11,794 | ||||
Cash Payments | ||||
Check No. | Cash Credit |
|||
5901 | 1,807 | |||
5902 | 734 | |||
5903 | 365 | |||
5904 | 2,039 | |||
5905 | 991 | |||
5906 | 989 | |||
5907 | 278 | |||
5908 | 399 | |||
5909 | 1,889 | |||
9,491 | ||||
Cash | Acct. No. 101 | ||||
Date | Explanation | PR | Debit | Credit | Balance |
Aug. 31 | Balance | 16,389 | |||
Sept. 30 | Total receipts | R12 | 11,794 | 28,183 | |
30 | Total payments | D23 | 9,491 | 18,692 | |
Additional Information
2. Prepare journal entries to adjust the book balance of cash to the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Solution:
Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled...
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,095 and No. 5893 for $516. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,864 11,597 19,733 CHECKS AND DEBITS DEPOSITS AND CREDITS Date...
Required Information [The following information applies to the questions displayed below.) Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,049 and No. 5893 for $505. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS 18,500 9,804 TOTAL, DEPOSITS AND CREDITS...
Required information
[The following information applies to the questions
displayed below.]
Chavez Company most recently reconciled its bank statement and
book balances of cash on August 31 and it reported two checks
outstanding, No. 5888 for $1,028 and No. 5893 for $494. Check No.
5893 was still outstanding as of September 30. The following
information is available for its September 30 reconciliation.
From the September 30 Bank Statement
PREVIOUS BALANCE
TOTAL CHECKS AND DEBITS
TOTAL DEPOSITS AND CREDITS
CURRENT BALANCE...
Required Information (The following information applies to the questions displayed below.) Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,049 and No. 5893 for $505. Check No. 5893 was still outstanding as of September 30. The following Information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE 18,500 TOTAL CRECKS AND DEBITS 9,804 TOTAL DEPOSITS AND CREDITS...
Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,081 and No. 5893 for $495. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE...
Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,015 and No. 5893 for $498. The following information is available for its September 30, 2017, reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 19,500 9,778 11,638 21,360 CHECKS AND DEBITS DEPOSITS AND...
Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,040 and No. 5893 for $510. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,890 11,547 19,657 CHECKS AND DEBITS DEPOSITS AND CREDITS...
Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,081 and No. 5893 for $495. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE...
Required information
[The following information applies to the questions
displayed below.]
Chavez Company most recently reconciled its bank statement and
book balances of cash on August 31 and it reported two checks
outstanding, No. 5888 for $1,084 and No. 5893 for $498. Check No.
5893 was still outstanding as of September 30. The following
information is available for its September 30 reconciliation.
From the September 30 Bank Statement
PREVIOUS BALANCE
TOTAL CHECKS AND DEBITS
TOTAL DEPOSITS AND CREDITS
CURRENT BALANCE...
[The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,028 and No. 5893 for $494. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,800 9,617...