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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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![Required Information
[The following Information applies to the questions displayed below.]
Chavez Company most recently reconciled Its bank statement and book balances of cash on August 31 and it reported
two checks outstanding, No. 5888 for $1,028.05 and No. 5893 for $494.25. The following Information Is avallable for Its
September 30 reconciliation.
From the September 30 Bank Statement
PREVIOUS BALANCE
TOTAL CHECKS AND DEBITS
TOTAL DEPOSITS AND CREDITS
CURRENT BALANCE
16,8ee.45
9,620.es
18,453.25
11,272.85
CHECKS AND DEBITS
DEPOSITS AND CREDITS
Date
Аmount
Date
No.
Amount
e9/03
5888
1,028.e5
719.90
09/05
1,103.75
2,226.90
4,e93.ee
09/04
5902
e9/12
09/07
5901
e9/21
1,824.25
09/17
6ee.25 NSF
e9/25
2,351.70
e9/20
5905
937.80
e9/30
12.50 IN
e9/22
5903
399.10
09/30
1,485.e0 CM
09/22
5984
2,e90.ee
e9/28
5907
213.85
09/29
5909
1,807.65
From Chavez Company's Accounting Records
Cash Receipts Deposited
Cash
Debit
Date
Sep. 5
1,103.7
2,226.90
4,e93.ee
2,351.70
1,682.75
12
21
25
30
11,458.10
Cash Disbursements
Check
Cash
Credit
No.
5901
1,824.25
59e2
719.90
5903
399.10
5984
2,860.ee
59e5
937.80
5986
982.30
59e7
213.85
388.00
5988
5909
1,807.65
9,332.05
Cash
Acct. No. 101
Explanation
Aug. 31 Balance
Date
Debit
Credit
Balance
PR
15,278.15
Total nocoin+r
R11
11 469 10
Son
16 736 16](https://content.bartleby.com/qna-images/question/4b868480-07f0-4513-b0e4-403d75e281f6/0a995550-8582-492d-b0e4-76d4ce41e721/j8c2dx6.png)
Transcribed Image Text:Required Information
[The following Information applies to the questions displayed below.]
Chavez Company most recently reconciled Its bank statement and book balances of cash on August 31 and it reported
two checks outstanding, No. 5888 for $1,028.05 and No. 5893 for $494.25. The following Information Is avallable for Its
September 30 reconciliation.
From the September 30 Bank Statement
PREVIOUS BALANCE
TOTAL CHECKS AND DEBITS
TOTAL DEPOSITS AND CREDITS
CURRENT BALANCE
16,8ee.45
9,620.es
18,453.25
11,272.85
CHECKS AND DEBITS
DEPOSITS AND CREDITS
Date
Аmount
Date
No.
Amount
e9/03
5888
1,028.e5
719.90
09/05
1,103.75
2,226.90
4,e93.ee
09/04
5902
e9/12
09/07
5901
e9/21
1,824.25
09/17
6ee.25 NSF
e9/25
2,351.70
e9/20
5905
937.80
e9/30
12.50 IN
e9/22
5903
399.10
09/30
1,485.e0 CM
09/22
5984
2,e90.ee
e9/28
5907
213.85
09/29
5909
1,807.65
From Chavez Company's Accounting Records
Cash Receipts Deposited
Cash
Debit
Date
Sep. 5
1,103.7
2,226.90
4,e93.ee
2,351.70
1,682.75
12
21
25
30
11,458.10
Cash Disbursements
Check
Cash
Credit
No.
5901
1,824.25
59e2
719.90
5903
399.10
5984
2,860.ee
59e5
937.80
5986
982.30
59e7
213.85
388.00
5988
5909
1,807.65
9,332.05
Cash
Acct. No. 101
Explanation
Aug. 31 Balance
Date
Debit
Credit
Balance
PR
15,278.15
Total nocoin+r
R11
11 469 10
Son
16 736 16

Transcribed Image Text:5902
719.90
5903
399.10
5904
2,060.ee
5905
937.00
982.30
5906
5907
213.85
59e8
388.ee
59e9
1,807.65
9,332.05
Cash
Acct. No. 101
Explanation
Aug. 31 Balance
Sep. 30 Total receipts
Date
PR
Debit
Credit
Balance
15,278.15
26,736.25
17,404.20
R12
11,458.10
30 Total disbursements
D23
9,332.05
Addltional Information
Check No. 5904 Is correctly drawn for $2,090 to pay for computer equlpment; however, the recordkeeper misread the
amount and entered It In the accounting records with a debit to Computer Equipment and a credit to Cash of $2,060. The
NSF check shown in the statement was originally recelved from a customer, S. Nilson, In payment of her account. Its retur
has not yet been recorded by the company. The credit memorandum (CM) Is from the collection of a $1,500 note for
Chavez Company by the bank. The bank deducted a $15 collection expense. The collection and expense are not yet
recorded
Required:
1. Prepare the September 30 bank reconcliation for this company. (Round your answers to 2 decimal places.)
CHAVEZ COMPANY
Bank Reconciliation
September 30
Bank statement balance
Book balance
Add:
Add:
0.00
0.00
0.00
0.00
Deduct
Deduct:
0.00
0.00
0.00 Adjusted book balance
0.00
Adjusted bank balance
Expert Solution
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