Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Withdrawals Deposits $19,680 Balance, June 1 Deposits during June Cheques cleared during June Bank service charges Balance, June 30 $21,500 70 Balance $ 7,600 27,280 5,780 5,710 5,710 Cash (A) June 1 June Balance Deposits 7,200 21,000 21,400 Cheques written June June 30 Balance 6,800 Required: 1. Prepare a bank reconciliation. A comparison of the cheques written with the cheques that have cleared the bank shows outstanding cheques of $300. Some of the cheques that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. Bank statement Ending balance per bank statement Additions: Outstanding cheques HILLS COMPANY Bank Reconciliation June 30 Company's books Ending balance per cash account Additions: 300 300 Deductions: Deductions: Bank service charge Up-to-date cash balance 70 $ 230 Up-to-date cash balance 2. Prepare the journal entry that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the journal entry that should be made as a result of the bank reconciliation. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 3. What is the balance in the Cash account after the reconciliation entries? Cash balance 4. In addition to the balance in its bank account, Hills Company also has $340 cash on hand. This amount is recorded in a separate T- account called Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30? Cash The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: Withdrawals Deposits $ 100 $3,000 Balance, September 1 September 7-NSF Cheque September 11 September 12 September 17 September 26 September 29-EFT deposit September 30-Service Charge #101 890 102 1.709 #103 2,300 Balance $2.ee 1,900 4,900 4,100 2,400 lee 250 230 150 20 + Cash (A) Balance Sep 1 Sep 10 Sep 30 2,000 3,000 2,5ee see 1,209 2.300 52 Sep 10 Sep 15 Sep 22 Sep 28 181 192 193 #104 Sep 30 Balance 2,650 No outstanding cheques and no deposits in transit were noted in August. However, there are deposits in transit and cheques outstanding at the end of September. The NSF cheque and electronic funds transfer (EFT) involved transactions with Cadieux Company's customers. Required: 1. Prepare a bank reconciliation. CADIEUX COMPANY Bank Reconciliation September 30 Company's Books Ending balance per Cash account Additions: Bank Statement Ending balance per bank statement Additions: Deductions Deductions Up-to-date cash balance Up-to-date cash balance
