Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Required information Skip to question [The following information applies to the questions displayed below.] The September 30 bank statement for Cadieux Company and the September

Required information

Skip to question

[The following information applies to the questions displayed below.]

The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here:

BANK STATEMENT
Checks Deposits Other Balance
Balance, September 1 $ 1,880
September 7 NSF check $ 90 1,790
September 11 $ 2,820 4,610
September 12 #101 $ 740 3,870
September 17 #102 1,580 2,290
September 26 #103 2,240 50
September 29 EFT deposit 120 170
September 30 Service charge 10 160

Cash (A)
Debit Credit
September 1 Balance 1,880
September 10 2,820 740 September 10 #101
September 30 2,200 1,580 September 15 #102
2,240 September 22 #103
40 September 28 #104
September 30 Balance 2,300

No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Companys customers.

  1. If the company also has $280 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?

image text in transcribed

Required information [The following information applies to the questions displayed below.) The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: Checks BANK STATEMENT Deposits Other NSF check $ 90 $ 2,820 Balance, September 1 September 7 September 11 September 12 September 17 September 26 September 29 September 30 #101 #102 #103 $ 740 1,580 2,240 Balance $ 1,880 1,790 4,610 3,870 2,290 50 170 160 EFT deposit Service charge 120 10 Cash (A) Credit Debit Balance September 1 September 10 September 30 1,880 2,820 2,200 740 1,580 2,240 40 September 10 September 15 September 22 September 28 #101 #102 #103 #104 September 30 Balance 2,300 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company's customers. 4. If the company also has $280 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet? Total Amount of Cash

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions