Question
The information below relates to the Cash account in the ledger of Tamarisk Company. Balance September 1$17,220; Cash deposited$64,250. Balance September 30$18,344; Checks written$63,126. The
The information below relates to the Cash account in the ledger of Tamarisk Company.
| Balance September 1$17,220; | Cash deposited$64,250. | |
| Balance September 30$18,344; | Checks written$63,126. |
The September bank statement shows a balance of $17,362 on September 30 and the following memoranda.
| Credits | Debits | |||||
|---|---|---|---|---|---|---|
| Collection of $1,962 note plus interest $38 | $2,000 | NSF check: Richard Nance | $895 | |||
| Interest earned on checking account | $53 | Safety deposit box rent | $73 | |||
At September 30, deposits in transit were $4,920, and outstanding checks totaled $2,853.
Prepare the bank reconciliation at September 30. (List items that increase cash balance first. Reconcile cash balance per bank first.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Knowledge Based System For Information System Audit
Authors: Amol B. Devale, R. V. Kulkarni
1st Edition
6200652376, 978-6200652379
