This information relates to the Cash account in the ledger of Treanor Company. B

Question

This information relates to the Cash account in the ledger of Treanor Company. Balance September 1 - $17,834; Cash deposited - S64,000 Balance September 30 - $19,034; Checks written - $62,800 The September bank statement shows a balance of $17,934 at September 30 and the following memoranda. At September 30, deposits in transit were $5,056 and outstanding checks totaled $2,701. Prepare the bank reconciliation at September 30, 2014. Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account, and no interest had been accrued on the note.

Explanation / Answer

Bank Reconciliation Statement Particulars Balance as per Ledger 17834 Add: Collection of Note and interest 2132 Interest earned 61 Outstanding checks 2701 Cash deposited 64000 Less: Check 862 safety deposit box rent 76 Deposit in transit 5056 Checks written 62800 Balance as per bank 17934

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