Question

The information below relates to the Cash account in the ledger of Wasson Company.
Balance September 1-$17,150; Cash deposited-$64,000.
Balance September 30-$17,404; Checks written-$63,746.
The September bank statement shows a balance of $16,122 on September 30 and the following memoranda.


At September 30, deposits in transit were $4,450, and outstanding checks totaled $2,383.

Instructions
(a) Prepare the bank reconciliation at September 30.
(b) Prepare the adjusting entries at September 30, assuming (1) The NSF check was from a customer on account, (2) No interest had been accrued on thenote.


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  • CreatedDecember 29, 2012
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