Prepare a bank reconciliation /The following information applies to the question

Question

Prepare a bank reconciliation

/The following information applies to the questions displayed below/ The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here BANK STATEMENT Checks Deposits Other Balance $1,820 $ 90 1,730 4,460 3,750 2.230 20 105 125 115 NSF check $2,730 #101 $ 710 #102 1.520 #103 2.210 September 12 September 26 September 29 EFT deposit Service charge 10 Cash (A) Sep1 Sep 10 Sep 30 1,820 2,730 2,050 Balance 710 1,520 2,210 40 Sep 10 Sep15 Sep 22 Sep 28 #101 #102 #103 #104 Sep 30 Balance 2,120 No outstanding checks and no deposits in translt were noted in August However, there are deposits In transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company's customers

Explanation / Answer

Bank reconciliation Bank balance 115 Add Deposit in transit 2050 2165 Less Outstanding checks 40 Adjusted bank balance 2125 Cash balance 2120 Add EFT deposit 105 105 Less NSF cheque 90 service charge 10 100 Adjusted cash balance 2125

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