Question
The following information is for Crane Company in September: 1. Cash balance per bank, September 30, $7,800. 2. Cash balance per books, September 30, $6,250.
The following information is for Crane Company in September:
1. | Cash balance per bank, September 30, $7,800. | |
2. | Cash balance per books, September 30, $6,250. | |
3. | Outstanding cheques, $2,900. | |
4. | Bank service charge, $24. | |
5. | NSF cheque from customer, $240. | |
6. | Deposits in transit, $1,198. | |
7. | EFT receipts from customers in payment of their accounts, $76. | |
8. | Cheque #212 was correctly written and posted by the bank as $426. Crane Company had recorded the cheque as $462 in error. The cheque was written for the purchase of supplies. |
Prepare a bank reconciliation at September 30, 2021. (List items that increase balance as per bank & books first.)
CRANE COMPANY Bank Reconciliation September 30, 2021 | ||||
Error in cheque No. 212: SuppliesEFT collection of Accounts ReceivableAdjusted cash balance per bankOutstanding chequesNSF chequeBank service chargeDeposits in transitError in September 30 deposit of cash salesCheque printing chargeCash balance per bank statement | $ | |||
AddLess: Adjusted cash balance per bankError in September 30 deposit of cash salesBank service chargeCash balance per bank statementError in cheque No. 212: SuppliesDeposits in transitEFT collection of Accounts ReceivableNSF chequeOutstanding chequesCheque printing charge | ||||
AddLess: Cheque printing chargeAdjusted cash balance per bankOutstanding chequesCash balance per bank statementNSF chequeError in cheque No. 212: SuppliesError in September 30 deposit of cash salesDeposits in transitBank service chargeEFT collection of Accounts Receivable | ||||
Cheque printing chargeNSF chequeEFT collection of Accounts ReceivableAdjusted cash balance per bankDeposits in transitError in September 30 deposit of cash salesBank service chargeOutstanding chequesError in cheque No. 212: SuppliesCash balance per bank statement | $ | |||
Error in cheque No. 212: SuppliesOutstanding chequesDeposits in transitCheque printing chargeEFT collection of Accounts ReceivableCash balance per booksBank service chargeAdjusted cash balance per booksError in September 30 deposit of cash salesNSF cheque | $ | |||
AddLess: | ||||
EFT collection of Accounts ReceivableCheque printing chargeDeposits in transitError in September 30 deposit of cash salesBank service chargeCash balance per booksOutstanding chequesError in cheque No. 212: SuppliesAdjusted cash balance per booksNSF cheque | $ | |||
Adjusted cash balance per booksCash balance per booksError in September 30 deposit of cash salesOutstanding chequesNSF chequeDeposits in transitEFT collection of Accounts ReceivableBank service chargeCheque printing chargeError in cheque No. 212: Supplies | ||||
AddLess: | ||||
Error in September 30 deposit of cash salesCheque printing chargeCash balance per booksError in cheque No. 212: SuppliesBank service chargeNSF chequeOutstanding chequesAdjusted cash balance per booksDeposits in transitEFT collection of Accounts Receivable | $ | |||
Error in cheque No. 212: SuppliesError in September 30 deposit of cash salesNSF chequeAdjusted cash balance per booksOutstanding chequesBank service chargeEFT collection of Accounts ReceivableCheque printing chargeCash balance per booksDeposits in transit | ||||
Bank service chargeCheque printing chargeEFT collection of Accounts ReceivableCash balance per booksAdjusted cash balance per booksError in cheque No. 212: SuppliesNSF chequeError in September 30 deposit of cash salesDeposits in transitOutstanding cheques | $ |
Question Part Score
--/10
Journalize the adjusting entries at September 30, 2021, on Crane Companys books. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date | Account Titles and Explanation | Debit | Credit |
Sept. 30 | |||
(To record EFT receipts and error on Cheque No. 212) | |||
Sept. 30 | |||
(To record Bank charges and NSF cheque) |
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