Required information E5-6 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [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 Balance, September 1 $ 2,060 September 7 NSF check $ 100 1,960 September 11 $ 3,090 5,050 September 12 #101 $ 830 4,220 September 17 #102 1,760 2,460 September 26 #103 2,330 130 September 29 EFT deposit 165 295 September 30 Service charge 20 275 Cash (A) Sep 1 Balance 2,060 Sep 10 3,090 830 Sep 10 #101 Sep 30 2,650 1,760 Sep 15 #102 2,330 Sep 22 #103 50 Sep 28 #104 Sep 30 Balance 2,830 No outstanding checks and no deposits in transit 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. E5-6 Part 4 If the company also has $460 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required information

E5-6 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4]

[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
Balance, September 1										$	2,060
September 7							NSF check	$	100		1,960
September 11					$	3,090					5,050
September 12	#101	$	830								4,220
September 17	#102		1,760								2,460
September 26	#103		2,330								130
September 29							EFT deposit		165		295
September 30							Service charge		20		275

Cash (A)
Sep 1	Balance	2,060
Sep 10		3,090	830	Sep 10	#101
Sep 30		2,650	1,760	Sep 15	#102
			2,330	Sep 22	#103
			50	Sep 28	#104
Sep 30	Balance	2,830

No outstanding checks and no deposits in transit 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.

E5-6 Part 4

If the company also has $460 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?

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