Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information pertains to the bank transactions of Crawford Company: a. Cash on the books as of September 30 was $499. Cash as shown

The following information pertains to the bank transactions of Crawford Company:

a.

Cash on the books as of September 30 was $499. Cash as shown on the bank statement for the same date was $1,330.

b.

A deposit of $160, representing cash receipts of September 30, did not appear on the bank statement.

c.

Outstanding checks totaled $240.

d.

Bank service charges for September amounted to $9.

e.

The bank collected for Crawford Company $840 (which includes $40 interest) on a note left for collection.

f.

An NSF check for $80 from a customer, Jack Betz, was returned with the statement.

1. Prepare a bank reconciliation for Crawford Company as of September 30.

2. State the amount of cash that would appear on the balance sheet as of September 30.

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

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

Recommended Textbook for

Financial Accounting Fundamentals With Connect Plus

Authors: John Wild

4th Edition

77785932, 978-0077785932

More Books

Students also viewed these Accounting questions

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago

Question

Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago

Question

An action plan is prepared.

Answered: 1 week ago