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September 25 Cash deposit September 28 Check #5907 Check #5909 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited Date September 5 September 12 September 21 September 25 September 30 Collected note Interest earned 5901 5902 5903 5904 Cash Payments Check Number Cash Credit 5905 5906 5907 5908 5909 Cash Debit 1,144 2,237 4,145 2,380 1,767 11,673 1,854 736 446 2,028 929 962 250 414 1,877 9,496 Cash Explanation Date August 31 Balance September 30 Total receipts September 30 Total payments Additional Information $250 $ 1,877 PR R12 D23 $ 2,380 $1,500 $21 Debit 11,673 $ 19,187 $ 18,937 $ 17,060 $ 18,560 $ 18,581 Required: 1. Prepare the September 30 bank reconciliation for this company. Account Number 101 Credit Balance 15,472 27,145 17,649 I (a) Check Number 5904 is correctly drawn for $2,067 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,028. 9,496 (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company.

September 25 Cash deposit September 28 Check #5907 Check #5909 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited Date September 5 September 12 September 21 September 25 September 30 Collected note Interest earned 5901 5902 5903 5904 Cash Payments Check Number Cash Credit 5905 5906 5907 5908 5909 Cash Debit 1,144 2,237 4,145 2,380 1,767 11,673 1,854 736 446 2,028 929 962 250 414 1,877 9,496 Cash Explanation Date August 31 Balance September 30 Total receipts September 30 Total payments Additional Information $250 $ 1,877 PR R12 D23 $ 2,380 $1,500 $21 Debit 11,673 $ 19,187 $ 18,937 $ 17,060 $ 18,560 $ 18,581 Required: 1. Prepare the September 30 bank reconciliation for this company. Account Number 101 Credit Balance 15,472 27,145 17,649 I (a) Check Number 5904 is correctly drawn for $2,067 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,028. 9,496 (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company.

FINANCIAL ACCOUNTING
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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September 25 Cash deposit September 28 Check # 5907 Check #5909 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited Date September 5 September 12 September 21 September 25 September 30 Collected note Interest earned Check Number 5901 5902 5903 5904 5905 5906 5907 5908 5909 Cash Debit 1,144 2,237 4,145 Cash Payments 2,380 1,767 11,673 Cash Credit 1,854 736 446 2,028 929 962 250 414 1,877 9,496 Cash Date Explanation Balance August 31 September 30 Total receipts September 30 Total payments $250 $ 1,877 Additional Information PR R12 D23 $ 2,380 $ 1,500 $21 Debit 11,673 $ 19,187 $ 18,937 $ 17,060 $ 18,560 $ 18,581 Account Number 101 Credit Balance Required: 1. Prepare the September 30 bank reconciliation for this company. 9,496 15,472 27,145 17,649 X (a) Check Number 5904 is correctly drawn for $2,067 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,028. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company.
Transcribed Image Text:September 25 Cash deposit September 28 Check # 5907 Check #5909 September 29 September 30 September 30 From Chavez Company's Accounting Records Cash Receipts Deposited Date September 5 September 12 September 21 September 25 September 30 Collected note Interest earned Check Number 5901 5902 5903 5904 5905 5906 5907 5908 5909 Cash Debit 1,144 2,237 4,145 Cash Payments 2,380 1,767 11,673 Cash Credit 1,854 736 446 2,028 929 962 250 414 1,877 9,496 Cash Date Explanation Balance August 31 September 30 Total receipts September 30 Total payments $250 $ 1,877 Additional Information PR R12 D23 $ 2,380 $ 1,500 $21 Debit 11,673 $ 19,187 $ 18,937 $ 17,060 $ 18,560 $ 18,581 Account Number 101 Credit Balance Required: 1. Prepare the September 30 bank reconciliation for this company. 9,496 15,472 27,145 17,649 X (a) Check Number 5904 is correctly drawn for $2,067 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,028. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The collection of the note on September 30 is not yet recorded by the company.
Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,030 and Number 5893 for $498. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Withdrawals Deposits $ 1,030 $736 Date September 1 September 3 September 4 September 5 September 7 September 12 September 17 September 20 September 21 September 22 September 22 September 25 September 28 September 29 September 30 Collected note September 30 Interest earned. From Chavez Company's Accounting Records Cash Receipts Deposited Date September 5 September 12 September 21 September 25 September 30 Check Numb Description Check # 5888 Check # 5902 Cash deposit Check # 5901 Cash deposit NSF check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check # 5909 Cash Payments 5901 5902 5903 5904 5905 5906 5907 5908 5909 Cash Debit 1,144 2,237 4,145 2,380 1,767 11,673 Cash Credit 1,854 736 446 2,028 929 962 250 414 1,877 9,496 $ 1,854 $657 $929 $ 446 $ 2,067 $ 250 $ 1,877 $ 1,144 $ 2,237 $ 4,145 $ 2,380 $1,500 $ 21 Balance $ 17,000 $ 15,970 $ 15,234 $ 16,378 $ 14,524 $ 16,761 $ 16,104 $15,175 $ 19,320 $ 18,874 $ 16,807 $ 19, 187 $ 18,937 $ 17,060 $ 18,560 $ 18,581
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,030 and Number 5893 for $498. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. Withdrawals Deposits $ 1,030 $736 Date September 1 September 3 September 4 September 5 September 7 September 12 September 17 September 20 September 21 September 22 September 22 September 25 September 28 September 29 September 30 Collected note September 30 Interest earned. From Chavez Company's Accounting Records Cash Receipts Deposited Date September 5 September 12 September 21 September 25 September 30 Check Numb Description Check # 5888 Check # 5902 Cash deposit Check # 5901 Cash deposit NSF check Check #5905 Cash deposit Check #5903 Check #5904 Cash deposit Check #5907 Check # 5909 Cash Payments 5901 5902 5903 5904 5905 5906 5907 5908 5909 Cash Debit 1,144 2,237 4,145 2,380 1,767 11,673 Cash Credit 1,854 736 446 2,028 929 962 250 414 1,877 9,496 $ 1,854 $657 $929 $ 446 $ 2,067 $ 250 $ 1,877 $ 1,144 $ 2,237 $ 4,145 $ 2,380 $1,500 $ 21 Balance $ 17,000 $ 15,970 $ 15,234 $ 16,378 $ 14,524 $ 16,761 $ 16,104 $15,175 $ 19,320 $ 18,874 $ 16,807 $ 19, 187 $ 18,937 $ 17,060 $ 18,560 $ 18,581
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