50.1K

Verified Solution

Link Copied!

Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding. Number 5888 for $1.005 and Number 5893 for $520. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation Description Deposits withdrawals $ 1,00 $ 736 $ 1,136 5.1.235 $672 Date September 1 September September 4 Septembers Septembar September 12 September 19 September 20 September 21 September 22 September 22 September 25 September 28 Seatbee 25 Seatter 30 September 30 Check Check 50 cash deposit Check 9901 cash deposit NSF check Check 05905 Cash deposit Check 50 Check 85904 Cash deposit Check 25907 heck 959e9 Collected not Interest earned Balance $ 19. see $ 18,495 $ 17,755 $ 15,895 5 27.007 $19,247 $ 19,575 $ 17,552 1 21,728 $ 21,313 $19,237 $ 21,519 $ 21,372 $ 19,495 $ 21,195 $ 21,115 3 4.146 $ 415 $ 2,676 $ 2,152 $ 247 5 1.677 $ 1,700 From Chavez Company's Accounting Records Cash Receipts Deposited Date Cask Debt September 1,136 September 12 2,240 September 22 4,145 September 25 2,382 September 30 1732 11,636 1,88 Cash Payment Check Number Cash Credit sei 59e2 736 sse 415 5985 2,037 SOS 993 5906 5sez 242 550 418 5909 1.82% 9.60 989 PR Debit cash Date Explanation August 31 Balance September 3e Total receipts September Total payments count Number 101 Credit Balance 17,575 29.611 9.ee 20 ani RIZ 11,636 Additional Information (6) Check Number 5904 is correctly drawn for $2,076 to pay for computer equipment however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,037 (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account Its return has not yet been recorded by the company (c) The collection of the note on September 30 is not yet recorded by the company. Required: 1. Prepare the September 30 bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30 Book balance Add: Bank statement balance Add: 0 Deduct Deduct 0 Adjusted bank balance O Adused book balance 0

Answer & Explanation Solved by verified expert

See Answer