PLEASE HELP ASAP!! THANK YOU Chavez Company most recently reconciled its bank st
ID: 2396289 • Letter: P
Question
PLEASE HELP ASAP!! THANK YOU
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 $1,017 and No. 5893 for $520. The following information is available for its September 30, 2013, reconciliation.
1,731
974
Check No. 5904 is correctly drawn for $2,091 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 $2,052. 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. The credit memorandum is from the collection of a $1,520 note for Chavez Company by the bank. The bank deducted a $22 collection fee. The collection and fee are not yet recorded.
44.
Required information
Prepare the September 30, 2013, bank reconciliation for this company.
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 $1,017 and No. 5893 for $520. The following information is available for its September 30, 2013, reconciliation.
Explanation / Answer
Answer:
Chavez Company
Bank reconciliation
September -30-2013
Bank statement balance
20780
Book Balance
19782
Add:
Add:
Deposit -sep-30
1731
Interest earned
22
Proceeds from note
(1520-22)
1498
1731
1520
22511
21302
Deduct
Deduct
Check No:5893
520
NSF Check
655
Check No:5806
969
Error(2091-2052)
39
Check No:5808
414
694
1903
Adjusted bank Balance
20608
Adjusted book Balance
20608
Chavez Company
Bank reconciliation
September -30-2013
Bank statement balance
20780
Book Balance
19782
Add:
Add:
Deposit -sep-30
1731
Interest earned
22
Proceeds from note
(1520-22)
1498
1731
1520
22511
21302
Deduct
Deduct
Check No:5893
520
NSF Check
655
Check No:5806
969
Error(2091-2052)
39
Check No:5808
414
694
1903
Adjusted bank Balance
20608
Adjusted book Balance
20608
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