The adjusted cash balance from Hudson Corporation's August 31 bank reconciliation was $54,700. Hudson recorded the following
Question:
The adjusted cash balance from Hudson Corporation's August 31 bank reconciliation was $54,700. Hudson recorded the following events in the general ledger Cash account during the month of September: (1) cheques totalling $127,492 were issued; (2) salaries of $49,900 deposited to employee accounts; (3) monthly EFT payment of $1,500 for insurance; and (4) deposits totalling $128,658.
Instructions
(a) Calculate Hudson's unadjusted cash balance in the general ledger Cash account on September 30, prior to the bank reconciliation.
(b) Indicate the effect of items (1) through (4) in the bank reconciliation.
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a August 31 adjusted cash balance per bank reconciliation 54700 Add 4 Cash deposits in September ...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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