2. (LO 3) The information below relates to the Cash account in the ledger of Hillfarms Company. Balance June 1-$9,947; Cash deposited-$37,120. Balance June 30-$10,094; Checks written-$36,973. The June bank statement shows a balance of $9,525 on June 30 and the following memoranda. Credits At June 30, deposits in transit were $2,581, and outstanding checks totaled $1,382. Instructions a. Prepare the bank reconciliation at June 30. b. Prepare the adjusting entries at June 30, assuming the NSF check was from a customer on account. Balance @ 06/30/2022 Adjusted Balance @ 06/30/2022 Debits $245 Collection of electronic funds transfer $884 NSF check: R. Doll Interest earned on checking accounts $26 Safety deposit box rent $35 Cash Book 0 Bank Statement Date Account Name Debit Credit

2. (LO 3) The information below relates to the Cash account in the ledger of Hillfarms Company. Balance June 1-$9,947; Cash deposited-$37,120. Balance June 30-$10,094; Checks written-$36,973. The June bank statement shows a balance of $9,525 on June 30 and the following memoranda. Credits At June 30, deposits in transit were $2,581, and outstanding checks totaled $1,382. Instructions a. Prepare the bank reconciliation at June 30. b. Prepare the adjusting entries at June 30, assuming the NSF check was from a customer on account. Balance @ 06/30/2022 Adjusted Balance @ 06/30/2022 Debits $245 Collection of electronic funds transfer $884 NSF check: R. Doll Interest earned on checking accounts $26 Safety deposit box rent $35 Cash Book 0 Bank Statement Date Account Name Debit Credit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...

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