Question
hey can u please give me answere as soon as possible Pelzer Company reconciled its bank and book statement balances of Cash on August 31
hey can u please give me answere as soon as possible
Pelzer Company reconciled its bank and book statement balances of Cash on August 31 and showed two cheques outstanding at that time, #5888 for $6,080 and #5893 for $1,453.00. The following information was available for the September 30, 2017, reconciliation:
From the September 30, 2017, bank statement
BALANCE OF PREVIOUS STATEMENT ON AUG. 31/17 | 10,440.00 |
6 DEPOSITS AND OTHER CREDITS TOTALLING | 19,446.00 |
9 CHEQUES AND OTHER DEBITS TOTALLING | 24,130.00 |
CURRENT BALANCE AS OF SEPT. 30/17 | 5,756.00 |
|
Chequing Account Transactions | |||||
Date | Amount | Transaction Description | Date | Amount | Transaction Description |
Sept. 05 | 5,420.00 | + Deposit | Sept. 25 | 3,316.00 | + Deposit |
12 | 2,315.00 | + Deposit | 30 | 39.00 | + Interest |
17 | 200.45 | NSF cheque | 30 | 3,488.00 | + Credit memo |
21 | 5,192.00 | + Deposit |
Date | Cheque No. | Amount | Date | Cheque No. | Amount |
Sept. 03 | 5904 | 9,340.55 | Sept. 22 | 5888 | 6,080.00 |
07 | 5901 | 1,446.00 | 24 | 5909 | 1,864.00 |
08 | 5905 | 295.00 | 28 | 5907 | 2,896.00 |
10 | 5903 | 1,150.00 | 29 | 5902 | 858.00 |
|
From Pelzer Companys accounting records:
Cash | Acct. No. 101 | ||||
Date | Explanation | PR | Debit | Credit | Balance |
2017 | |||||
Aug. 31 | Balance | 2,583.00 | |||
Sept. 30 | CR12 | 17,406.00 | 19,989.00 | ||
30 | CD23 | 13,819.55 | 6,169.45 | ||
|
Deposits Made | |
Sept. 5 | $5,420.00 |
12 | 2,315.00 |
21 | 5,192.00 |
25 | 3,316.00 |
30 | 1,163.00 |
| |
Total Sept. Cash Receipts | $17,406.00 |
| |
|
Cheques Written | |
No. 5901 | $ 1,446.00 |
5902 | 858.00 |
5903 | 1,150.00 |
5904 | 3,940.55 |
5905 | 295.00 |
5906 | 624.00 |
5907 | 2,896.00 |
5908 | 746.00 |
5909 | 1,864.00 |
| |
Total Sept. Cash Disbursements | $13,819.55 |
| |
|
Cheque #5904 was correctly written for $9,340.55 to pay for computer equipment; however, the bookkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash as though it were for $3,940.55. The NSF cheque was originally received from a customer, Lisa Willis, in payment of her account. Its return was not recorded when the bank first notified the company. The credit memo resulted from an electronic fund transfer of $3,538 for a customer payment. The bank had deducted a $50.00 bank service charge. The collection has not been recorded.
Required: 1. Prepare a September 30 bank reconciliation for the company
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