The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here:
No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company’s customers.
1. Prepare a bank reconciliation.
2. Give any journal entries that should be made as the result of the bank reconciliation.
3. What should the balance in the Cash account be after recording the journal entries in requirement 2?
4. If the company also has $ 400 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?

  • CreatedNovember 02, 2015
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