P6-5 (Algo) Preparing a Bank Reconciliation and Related Journal Entries LO6-4 [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): Balance, April 1, Current Year BANK STATEMENT Checks Deposits Balance $31,500 $36,200 67,700 1,330 69,030 $45,600 23,430 330 23,100 90 23,010 23,010 Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Cash (A) Debit April 1 Balance April Deposits Credit 23,600 April Checks written 43,400 43,800 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $6,100 (including $4,300 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. 6-5 Part 4 What total amount of cash should be reported on the balance sheet at the end of April? otal amount of cash
P6-5 (Algo) Preparing a Bank Reconciliation and Related Journal Entries LO6-4 [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): Balance, April 1, Current Year BANK STATEMENT Checks Deposits Balance $31,500 $36,200 67,700 1,330 69,030 $45,600 23,430 330 23,100 90 23,010 23,010 Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Cash (A) Debit April 1 Balance April Deposits Credit 23,600 April Checks written 43,400 43,800 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $6,100 (including $4,300 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. 6-5 Part 4 What total amount of cash should be reported on the balance sheet at the end of April? otal amount of cash
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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