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NEED HELP ASAPPPPP PLEASSSSEEEE Required information (The following information applies to the questions displayed below. Chavez Company most recently reconciled its bank statement and book
NEED HELP ASAPPPPP PLEASSSSEEEE
Required information (The following information applies to the questions displayed below. Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,063 and Number 5893 for $497. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Description Withdrawals Deposits $ 1,063 $ 749 $ 1,178 $ 1,863 $ 2,286 Date September 1 September 3 September 4 September 5 September 7 September 12 September 17 September 20 September 21 September 22 September 22 September 25 September 28 September 29 September 30 September 30 $ 633 $ 986 Check #5888 Check #5902 Cash deposit Check #5901 Cash deposit NSF check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check #5909 Collected note Interest earned Balance $ 18,500 $ 17,437 $ 16,688 $ 17,866 $ 16,003 $ 18, 289 $ 17,656 $ 16,670 $ 21,010 $ 20,652 $ 18,555 $ 20,929 $ 20,701 $ 18,851 $ 20,521 $ 20,534 $ 4,340 $ 358 $ 2,097 $ 2,374 $ 228 $ 1,850 $ 1,670 $ 13 From Chavez Company's Accounting Records Cash Receipts Deposited Date Cash Debit September 5 1, 178 September 12 2,286 September 21 4,340 September 25 2,374 September 30 11,918 1,740 Cash Payments Check Number Cash Credit 5001 262 1 From Chavez Company's Accounting Records Cash Receipts Deposited Date Cash Debit September 5 1,178 September 12 2,286 September 21 4,340 September 25 September 30 1,740 11,918 2,374 1,863 Cash Payments Check Number Cash Credit 5901 5902 749 5903 358 5904 2,057 5905 986 5906 988 5907 228 5908 444 5909 1,850 9,523 PR Debit Date August 31 September 30 September 30 Cash Explanation Balance Total receipts Total payments Account Number 101 Credit Balance 16,940 28,858 9,523 19,335 R12 D23 11,918 Additional Information (a) Check Number 5904 is correctly drawn for $2,097 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,057. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company. Required: 1. Prepare the September 30 bank reconciliation for this company. CHAVEZ COMPANY Bank Reconciliation September 30 Book balance Add: Bank statement balance Add: 0 0 0 0 Deduct: Deduct: 0 0 Adjusted bank balance $ 0 Adjusted book balance S 0 2. Prepare journal entries to adjust the book balance of cash to the reconciled balance. (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 entry related to the September 30 deposit, if required. Note: Enter debits before credits Date General Journal Debit Credit September 30 Record entry Clear entry View general journalStep by Step Solution
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