Question

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 CURRENT BALANCE 20,224 11.52 1,166 CHECKS AND DEBITS Date No. Amount 09/03 5888 1.049 09/04 09/07 5901 1,853 09/17 644 NSF 09/20 5905 973 09/22 5903 407 09/22 5904 ,052 09/28 5907 09/29 5909 DEPOSITS AND CREDITS Date Amount 09/05 09/12 2.296 09/21 4.065 09/25 09/30 09/30 From Chavez Company's Accounting Records Cheb Receipts Deponite Cash Debit 1.166 2,296 4,065 2,381 1792

Answer 1

F BC Chavez Company Bank Reconciliation Sep-30 20224 Book balance Additions: $ 1,792.00 Note Collection $ 22,016.00 Interest earned 19171 1600 20 $1,620.00 $ 20,791 4 Bank statement balance 5 Additions: 6 Deposits in transit 7 8 9 Deductions: 10 Outstanding Checks 11 No: 5893 12 No: 5906 13 No: 5908 14 Adjusted bank balance 505 981 421 Deductions: NSF Cheque Error in recording ($2052-2014) 1907 $ 20,109 Adjusted cash balance 644 38 $682 $ 20,109 15

Chavez Company Bank Reconciliation 20224 19171 3 11202 4 Bank statement balance 5 Additions: 6 Deposits in transit 7 Book balance Additions: Note Collection Interest earned 1792 1600 =+C4+C6 =+E6+E7 =+F4+F7 9 Deductions: 10 Outstanding Checks 11 No: 5893 12 No: 5906 13 No: 5908 14 Adjusted bank balance Deductions: NSF Cheque Error in recording ($2052-2014) |=2052-2014=+E11+E12 421 =+B11+B12+B13 =+C7-C13 Adjusted cash balance =+F8-F12