Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 6 The information below relates to the Cash account in the ledger of Lee Company. Balance September 1-$25,725 Balance September 30-$22,225 The September bank

image text in transcribed
image text in transcribed
image text in transcribed
Question 6 The information below relates to the Cash account in the ledger of Lee Company. Balance September 1-$25,725 Balance September 30-$22,225 The September bank statement shows a balance of $24,635 on September 30 and the following memorand Cash deposited-$96,000. Checks written-$99,500. Credits Debits NSF check: J. E. Hoover Safety deposit box rent Collection of $4,250 note plus interest $50 $4,300 $40 $735 $75 Interest earned on checking account At September 30, deposits in transit were $4,695, and outstanding checks totaled $3,575. Prepare the bank reconciliation at September 30. (List items that increase cash balance first.) LEE COMPANY Bank Reconciliation At September 30 Cash Balance Per Bank Statement 25,725 AddDeposit in Transit MAR 27 Bank Reconciliation At September 30 Cash Balance Per Bank Statement s25,725 AddDeposit in Transit MAR

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Method And Meaning Teachers Guide

Authors: R.M.S. Wilson

2nd Edition

0412436205, 978-0412436208

More Books

Students also viewed these Accounting questions

Question

How much can an individual transfer, gift tax-free, each year?

Answered: 1 week ago