Reconciling Book and Bank Balances Jensen Company has just received the September 30, 2009, bank statement summarized
Question:
Reconciling Book and Bank Balances Jensen Company has just received the September 30, 2009, bank statement summarized in the following schedule:
Cash on hand (recorded on Jensen’s books but not deposited) on September 1 and September 30 amounted to $200. There were no deposits in transit or checks outstanding at September 1, 2009. The cash account for September reflected the following:
Answer the following questions. (Hint: It may be helpful to prepare a complete bank reconciliation.) 1. What is the ending balance per the cash account before adjustments? 2. What adjustments should be added to the depositor’s books? 3. What is the total amount of the deductions from the depositor’s books? 4. What is the total amount to be added to the bank’s balance? 5. What is the total amount to be deducted from the bank’s balance?
Transcribed Image Text:
Charges Deposits Balance Balance, September 1 $5,100 Deposits recorded during September $27,000 32,100 Checks cleared during September $27,300 4,800 NSF check, J. J. Jones 50 4,750 Bank service charges 10 4,740 Balance, September 30 4,740
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