Question
This information relates to the Cash account in the ledger of Oriole Company. Balance September 1$17,190; Cash deposited$64,000 Balance September 30$18,390; Checks written$62,800 The September
This information relates to the Cash account in the ledger of Oriole Company. Balance September 1$17,190; Cash deposited$64,000 Balance September 30$18,390; Checks written$62,800 The September bank statement shows a balance of $17,290 at September 30 and the following memoranda.
Credits | Debits | |||||
---|---|---|---|---|---|---|
Collection from customer of electronic funds transfer | $2,130 | NSF check: H. Kane | $860 | |||
Interest earned on checking account | 60 | Safety deposit box rent | 75 |
At September 30, deposits in transit were $5,053 and outstanding checks totaled $2,698.
Prepare the bank reconciliation at September 30, 2022. (List items that increase balance as per bank & books first.)
ORIOLE COMPANY Bank Reconciliation choose the accounting period For the Month Ended September 30, 2022September 30, 2022For the Year Ended September 30, 2022 | |||||
---|---|---|---|---|---|
select an opening name for section one Cash balance per bank statementElectronic funds transfer receivedInterest earnedAdjusted cash balance per bankNSF checkOutstanding checksDeposits in transitSafety deposit box rent | $enter a dollar amount | ||||
select between addition and deduction AddLess: | select a reconciling item Safety deposit box rentElectronic funds transfer receivedAdjusted cash balance per bankCash balance per bank statementNSF checkInterest earnedDeposits in transitOutstanding checks | enter a dollar amount | |||
enter a subtotal of the two previous amounts | |||||
select between addition and deduction AddLess: | select a reconciling item Adjusted cash balance per bankDeposits in transitOutstanding checksNSF checkCash balance per bank statementSafety deposit box rentInterest earnedElectronic funds transfer received | enter a dollar amount | |||
select a closing name for section one Electronic funds transfer receivedSafety deposit box rentNSF checkDeposits in transitInterest earnedOutstanding checksAdjusted cash balance per bankCash balance per bank statement | $enter a total amount for the first section | ||||
select an opening name for section two Electronic funds transfer receivedSafety deposit box rentCash balance per booksInterest earnedNSF checkDeposits in transitOutstanding checksAdjusted cash balance per books | $enter a dollar amount | ||||
select between addition and deduction AddLess: | |||||
select a reconciling item Deposits in transitInterest earnedSafety deposit box rentCash balance per booksOutstanding checksElectronic funds transfer receivedAdjusted cash balance per booksNSF check | $enter a dollar amount | ||||
select a reconciling item Deposits in transitCash balance per booksElectronic funds transfer receivedNSF checkOutstanding checksSafety deposit box rentAdjusted cash balance per booksInterest earned | enter a dollar amount | ||||
enter a subtotal of the two previous amounts | |||||
enter a subtotal of the two previous amounts | |||||
select between addition and deduction AddLess: | |||||
select a reconciling item Outstanding checksAdjusted cash balance per booksCash balance per booksNSF checkInterest earnedSafety deposit box rentDeposits in transitElectronic funds transfer received | enter a dollar amount | ||||
select a reconciling item Cash balance per booksOutstanding checksInterest earnedDeposits in transitNSF checkSafety deposit box rentAdjusted cash balance per booksElectronic funds transfer received | enter a dollar amount | ||||
enter a subtotal of the two previous amounts | |||||
select a closing name for section two Interest earnedCash balance per booksOutstanding checksNSF checkElectronic funds transfer receivedAdjusted cash balance per booksDeposits in transitSafety deposit box rent | $enter a total amount for the second section |
eTextbook and Media
List of Accounts
Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Sept. 30 | enter an account title to record electronic funds transfer received by bank on September 30 | enter a debit amount | enter a credit amount |
enter an account title to record electronic funds transfer received by bank on September 30 | enter a debit amount | enter a credit amount | |
(To record electronic funds transfer received by bank) | |||
Sept. 30 | enter an account title to record interest earned on checking account on September 30 | enter a debit amount | enter a credit amount |
enter an account title to record interest earned on checking account on September 30 | enter a debit amount | enter a credit amount | |
(To record Interest earned on checking account) | |||
Sept. 30 | enter an account title To record NSF check on September 30 | enter a debit amount | enter a credit amount |
enter an account title To record NSF check on September 30 | enter a debit amount | enter a credit amount | |
(To record NSF check) | |||
Sept. 30 | enter an account title to record charges for safety deposit box rent on September 30 | enter a debit amount | enter a credit amount |
enter an account title to record charges for safety deposit box rent on September 30 | enter a debit amount | enter a credit amount | |
(To record charges for safety deposit box rent |
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