The information below relates to the Cash account in the ledger of Waterway Company.Balance September 1 - $17,270; Cash deposited - $64,390.Balance September 30 - $17,804; Checks written - $63,856. The September bank statement shows a balance of $16,822 on September 30 and the following memoranda.Credis Debits Collection of $1,692 note plus interest $38$1,730NSF check: Richard Nance$625Interest earned on checking account$53Safety deposit box rent$73At September 30, deposits in transit were $4,650, and outstanding checks totaled. $2,583. Cash Balance Per Bank StatementAddLessAdjusted Cash Balance Per BankAdd ✓Cash Balance Per BooksLessDeposits in Transit: Outstanding Checks<:Collection of Note ReceivableInterest EarnedNSF CheckSafety Deposit Box RentAdjusted Cash Balance Per BooksBank ReconciliationSeptember 30LA173053625 i73+A$$+A10 The information below relates to the Cash account in the ledger of Waterway Company.Balance September 1-$17,270;Balance September 30-$17,804;Cash deposited-$64,390.Checks written-$63,856.The September bank statement shows a balance of $16,822 on September 30 and the following memoranda.CreditsCollection of $1,692 note plus interest $38 $1,730Interest earned on checking account$53DebitsNSF check: Richard NanceSafety deposit box rentAt September 30, deposits in transit were $4,650, and outstanding checks totaled $2,583.$625$73

Bank reconciliation is defined as a process associated with matching the cash balance that prevails…

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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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The information below relates to the Cash account in the ledger of Waterway Company.

Balance September 1 - $17,270; Cash deposited - $64,390.

Balance September 30 - $17,804; Checks written - $63,856.

The September bank statement shows a balance of $16,822 on September 30 and the following memoranda.

Credis		Debits
Collection of $1,692 note plus interest $38	$1,730	NSF check: Richard Nance	$625
Interest earned on checking account	$53	Safety deposit box rent	$73

At September 30, deposits in transit were $4,650, and outstanding checks totaled. $2,583.

Cash Balance Per Bank Statement
Add
Less
Adjusted Cash Balance Per Bank
Add ✓
Cash Balance Per Books
Less
Deposits in Transit
: Outstanding Checks
<
:
Collection of Note Receivable
Interest Earned
NSF Check
Safety Deposit Box Rent
Adjusted Cash Balance Per Books
Bank Reconciliation
September 30
LA
1730
53
625 i
73
+A
$
$
+A
10

The information below relates to the Cash account in the ledger of Waterway Company.
Balance September 1-$17,270;
Balance September 30-$17,804;
Cash deposited-$64,390.
Checks written-$63,856.
The September bank statement shows a balance of $16,822 on September 30 and the following memoranda.
Credits
Collection of $1,692 note plus interest $38 $1,730
Interest earned on checking account
$53
Debits
NSF check: Richard Nance
Safety deposit box rent
At September 30, deposits in transit were $4,650, and outstanding checks totaled $2,583.
$625
$73

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