Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The September 30 bank statement for Bennett Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits $ 26,000 $26,550

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

The September 30 bank statement for Bennett Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits $ 26,000 $26,550 Balance, September 1 Deposits recorded during September Checks cleared during September NSF checks-Betty Brown Bank service charges Balance, September 30 Balance $ 6,650 32,650 6, 120 5,92 5,877 5,877 18e Cash (A) Sept. Checks written 29,400 Sept. 1 Balance Sept. Deposits 6,650 28,800 No outstanding checks and no deposits in transit were carried over from August; however, there are deposits in transit and checks outstanding at the end of September. Required: 1. Reconcile the bank account. 2. Prepare the journal entries that should be made as the result of the bank reconciliation 3. What should the balance in the Cash account be after the reconciliation entries? 4. What total amount of cash should the company report on the September 30 balance sheet? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Reconcile the bank account. BENNETT COMPANY Bank Reconciliation, September 30 Company's Books Bank Statement Additions: Additions: Deductions: Deductions: Correct cash balance Correct cash balance Required 1 Required 2 > Juunil elli y WUIKSleel Journal entry worksheet

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

Recommended Textbook for

Managerial Accounting An Integrative Approach

Authors: C J Mcnair Connoly, Kenneth Merchant

2nd Edition

099950049X, 978-0999500491

Students also viewed these Accounting questions

Question

What is the formula to calculate the mth Fibonacci number?

Answered: 1 week ago