Apex Company's bank statement for the month of September showed a balance per bank of S6,190. The company's Cash account in the general ledger had a balance of $4,830 at September 30. Other information is as follows: 26. Cash receipts for September 30 recorded on the company's books were $5,040 but this amount does not appear on the bank statement. This amount is a deposit in transit. 27. The bank statement shows a debit memorandum for $30 for check printing charges. 28. The total amount of checks still outstanding at September 30 amounted to $4,420. 29. Check No. 138 was correctly written and paid by the bank for $590. The cash payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for S660. 30. The bank returned an NSF check from a customer for $320. 6. The bank included a credit memorandum for $2,260 which represents collection of a customer's note by the bank for the company; principal amount of the note was $2,200 and interest was $60. Interest has not been accrued. Instructions (b) Prepare any adjusting entries necessary as a result of the bank reconciliation
Apex Company's bank statement for the month of September showed a balance per bank of S6,190. The company's Cash account in the general ledger had a balance of $4,830 at September 30. Other information is as follows: 26. Cash receipts for September 30 recorded on the company's books were $5,040 but this amount does not appear on the bank statement. This amount is a deposit in transit. 27. The bank statement shows a debit memorandum for $30 for check printing charges. 28. The total amount of checks still outstanding at September 30 amounted to $4,420. 29. Check No. 138 was correctly written and paid by the bank for $590. The cash payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for S660. 30. The bank returned an NSF check from a customer for $320. 6. The bank included a credit memorandum for $2,260 which represents collection of a customer's note by the bank for the company; principal amount of the note was $2,200 and interest was $60. Interest has not been accrued. Instructions (b) Prepare any adjusting entries necessary as a result of the bank reconciliation
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
I'm a little confused how to prep the bank reconciliation and the journal entrys.
![Apex Company's bank statement for the month of September showed a balance per bank of $6,190.
The company's Cash account in the general ledger had a balance of $4,830 at September 30. Other
information is as follows:
26. Cash receipts for September 30 recorded on the company's books were $5,040 but this amount does
not appear on the bank statement. This amount is a deposit in transit.
27. The bank statement shows a debit memorandum for $30 for check printing charges.
28. The total amount of checks still outstanding at September 30 amounted to $4,420.
29. Check No. 138 was correctly written and paid by the bank for $590. The cash payment journal
reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for
$660.
30. The bank returned an NSF check from a customer for $320.
6. The bank included a credit memorandum for $2,260 which represents collection of a customer's
note by the bank for the company; principal amount of the note was $2,200 and interest was $60.
Interest has not been accrued.
Instructions
(a)
(b)
Prepare a bank reconciliation for Apex Corporation at September 30.
Prepare any adjusting entries necessary as a result of the bank reconciliation](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F04efc472-c6c1-4f52-a8c6-ad3f1f4e8a60%2F9c6ebe78-b234-45c4-9524-0dd07379e054%2Fu802sf1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Apex Company's bank statement for the month of September showed a balance per bank of $6,190.
The company's Cash account in the general ledger had a balance of $4,830 at September 30. Other
information is as follows:
26. Cash receipts for September 30 recorded on the company's books were $5,040 but this amount does
not appear on the bank statement. This amount is a deposit in transit.
27. The bank statement shows a debit memorandum for $30 for check printing charges.
28. The total amount of checks still outstanding at September 30 amounted to $4,420.
29. Check No. 138 was correctly written and paid by the bank for $590. The cash payment journal
reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for
$660.
30. The bank returned an NSF check from a customer for $320.
6. The bank included a credit memorandum for $2,260 which represents collection of a customer's
note by the bank for the company; principal amount of the note was $2,200 and interest was $60.
Interest has not been accrued.
Instructions
(a)
(b)
Prepare a bank reconciliation for Apex Corporation at September 30.
Prepare any adjusting entries necessary as a result of the bank reconciliation
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