This information relates to the Cash account in the ledger of Ivanhoe Company. Balance September 1—$19,140; Cash deposited—$64,000 Balance September 30—$20,340; Checks written—$62,800The September bank statement shows a balance of $19,240 at September 30 and the following memoranda. Credits Debits Collection from customer of electronic funds transfer $2,170 NSF check: H. Kane $900 Interest earned on checking account 60 Safety deposit box rent 75 At September 30, deposits in transit were $5,093 and outstanding checks totaled $2,738. Prepare the bank reconciliation at September 30, 2022. (List items that increase balance as per bank & books first.) IVANHOE COMPANYBank Reconciliationchoose the accounting period September 30, 2022For the Month Ended September 30, 2022For the Year Ended September 30, 2022 select an opening name for section one NSF checkElectronic funds transfer receivedAdjusted cash balance per bankCash balance per bank statementOutstanding checksDeposits in transitInterest earnedSafety deposit box rent $enter a dollar amount select between addition and deduction AddLess : select a reconciling item Cash balance per bank statementNSF checkOutstanding checksSafety deposit box rentElectronic funds transfer receivedAdjusted cash balance per bankDeposits in transitInterest earned enter a dollar amount enter a subtotal of the two previous amounts select between addition and deduction LessAdd : select a reconciling item Safety deposit box rentOutstanding checksElectronic funds transfer receivedInterest earnedNSF checkCash balance per bank statementAdjusted cash balance per bankDeposits in transit enter a dollar amount select a closing name for section one NSF checkInterest earnedSafety deposit box rentCash balance per bank statementAdjusted cash balance per bankDeposits in transitElectronic funds transfer receivedOutstanding checks $enter a total amount for the first section select an opening name for section two NSF checkOutstanding checksElectronic funds transfer receivedCash balance per booksAdjusted cash balance per booksDeposits in transitInterest earnedSafety deposit box rent $enter a dollar amount select between addition and deduction AddLess : select a reconciling item Outstanding checksDeposits in transitCash balance per booksElectronic funds transfer receivedInterest earnedNSF checkSafety deposit box rentAdjusted cash balance per books $enter a dollar amount select a reconciling item Outstanding checksSafety deposit box rentElectronic funds transfer receivedInterest earnedCash balance per booksAdjusted cash balance per booksNSF checkDeposits in transit enter a dollar amount enter a subtotal of the two previous amounts enter a subtotal of the two previous amounts select between addition and deduction LessAdd : select a reconciling item Interest earnedAdjusted cash balance per booksDeposits in transitSafety deposit box rentOutstanding checksElectronic funds transfer receivedCash balance per booksNSF check enter a dollar amount select a reconciling item Electronic funds transfer receivedDeposits in transitCash balance per booksNSF checkOutstanding checksInterest earnedSafety deposit box rentAdjusted cash balance per books enter a dollar amount enter a subtotal of the two previous amounts select a closing name for section two Adjusted cash balance per booksDeposits in transitOutstanding checksCash balance per booksElectronic funds transfer receivedInterest earnedNSF checkSafety deposit box rent $enter a total amount for the second section SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 enter an account title to record electronic funds transfer received by bank on September 30 enter a debit amount enter a credit amount enter an account title to record electronic funds transfer received by bank on September 30 enter a debit amount enter a credit amount (To record electronic funds transfer received by bank) Sept. 30 enter an account title to record interest earned on checking account on September 30 enter a debit amount enter a credit amount enter an account title to record interest earned on checking account on September 30 enter a debit amount enter a credit amount (To record Interest earned on checking account) Sept. 30 enter an account title To record NSF check on September 30 enter a debit amount enter a credit amount enter an account title To record NSF check on September 30 enter a debit amount enter a credit amount (To record NSF check) Sept. 30 enter an account title to record charges for safety deposit box rent on September 30 ent enter an account title to record charges for safety deposit box rent on September 30 (To record charges for safety deposit box rent)

This information relates to the Cash account in the ledger of Ivanhoe Company. Balance September 1—$19,140; Cash deposited—$64,000 Balance September 30—$20,340; Checks written—$62,800The September bank statement shows a balance of $19,240 at September 30 and the following memoranda. Credits Debits Collection from customer of electronic funds transfer $2,170 NSF check: H. Kane $900 Interest earned on checking account 60 Safety deposit box rent 75 At September 30, deposits in transit were $5,093 and outstanding checks totaled $2,738. Prepare the bank reconciliation at September 30, 2022. (List items that increase balance as per bank & books first.) IVANHOE COMPANYBank Reconciliationchoose the accounting period September 30, 2022For the Month Ended September 30, 2022For the Year Ended September 30, 2022 select an opening name for section one NSF checkElectronic funds transfer receivedAdjusted cash balance per bankCash balance per bank statementOutstanding checksDeposits in transitInterest earnedSafety deposit box rent $enter a dollar amount select between addition and deduction AddLess : select a reconciling item Cash balance per bank statementNSF checkOutstanding checksSafety deposit box rentElectronic funds transfer receivedAdjusted cash balance per bankDeposits in transitInterest earned enter a dollar amount enter a subtotal of the two previous amounts select between addition and deduction LessAdd : select a reconciling item Safety deposit box rentOutstanding checksElectronic funds transfer receivedInterest earnedNSF checkCash balance per bank statementAdjusted cash balance per bankDeposits in transit enter a dollar amount select a closing name for section one NSF checkInterest earnedSafety deposit box rentCash balance per bank statementAdjusted cash balance per bankDeposits in transitElectronic funds transfer receivedOutstanding checks $enter a total amount for the first section select an opening name for section two NSF checkOutstanding checksElectronic funds transfer receivedCash balance per booksAdjusted cash balance per booksDeposits in transitInterest earnedSafety deposit box rent $enter a dollar amount select between addition and deduction AddLess : select a reconciling item Outstanding checksDeposits in transitCash balance per booksElectronic funds transfer receivedInterest earnedNSF checkSafety deposit box rentAdjusted cash balance per books $enter a dollar amount select a reconciling item Outstanding checksSafety deposit box rentElectronic funds transfer receivedInterest earnedCash balance per booksAdjusted cash balance per booksNSF checkDeposits in transit enter a dollar amount enter a subtotal of the two previous amounts enter a subtotal of the two previous amounts select between addition and deduction LessAdd : select a reconciling item Interest earnedAdjusted cash balance per booksDeposits in transitSafety deposit box rentOutstanding checksElectronic funds transfer receivedCash balance per booksNSF check enter a dollar amount select a reconciling item Electronic funds transfer receivedDeposits in transitCash balance per booksNSF checkOutstanding checksInterest earnedSafety deposit box rentAdjusted cash balance per books enter a dollar amount enter a subtotal of the two previous amounts select a closing name for section two Adjusted cash balance per booksDeposits in transitOutstanding checksCash balance per booksElectronic funds transfer receivedInterest earnedNSF checkSafety deposit box rent $enter a total amount for the second section SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 30 enter an account title to record electronic funds transfer received by bank on September 30 enter a debit amount enter a credit amount enter an account title to record electronic funds transfer received by bank on September 30 enter a debit amount enter a credit amount (To record electronic funds transfer received by bank) Sept. 30 enter an account title to record interest earned on checking account on September 30 enter a debit amount enter a credit amount enter an account title to record interest earned on checking account on September 30 enter a debit amount enter a credit amount (To record Interest earned on checking account) Sept. 30 enter an account title To record NSF check on September 30 enter a debit amount enter a credit amount enter an account title To record NSF check on September 30 enter a debit amount enter a credit amount (To record NSF check) Sept. 30 enter an account title to record charges for safety deposit box rent on September 30 ent enter an account title to record charges for safety deposit box rent on September 30 (To record charges for safety deposit box rent)

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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Question

Credits	Debits
Collection from customer of electronic funds transfer	$2,170	NSF check: H. Kane	$900
Interest earned on checking account	60	Safety deposit box rent	75

At September 30, deposits in transit were $5,093 and outstanding checks totaled $2,738.

Prepare the bank reconciliation at September 30, 2022. (List items that increase balance as per bank & books first.)

IVANHOE COMPANY Bank Reconciliation choose the accounting period September 30, 2022For the Month Ended September 30, 2022For the Year Ended September 30, 2022
select an opening name for section one NSF checkElectronic funds transfer receivedAdjusted cash balance per bankCash balance per bank statementOutstanding checksDeposits in transitInterest earnedSafety deposit box rent			$enter a dollar amount
select between addition and deduction AddLess :	select a reconciling item Cash balance per bank statementNSF checkOutstanding checksSafety deposit box rentElectronic funds transfer receivedAdjusted cash balance per bankDeposits in transitInterest earned			enter a dollar amount
				enter a subtotal of the two previous amounts
select between addition and deduction LessAdd :	select a reconciling item Safety deposit box rentOutstanding checksElectronic funds transfer receivedInterest earnedNSF checkCash balance per bank statementAdjusted cash balance per bankDeposits in transit			enter a dollar amount
select a closing name for section one NSF checkInterest earnedSafety deposit box rentCash balance per bank statementAdjusted cash balance per bankDeposits in transitElectronic funds transfer receivedOutstanding checks			$enter a total amount for the first section

select an opening name for section two NSF checkOutstanding checksElectronic funds transfer receivedCash balance per booksAdjusted cash balance per booksDeposits in transitInterest earnedSafety deposit box rent			$enter a dollar amount
select between addition and deduction AddLess :
	select a reconciling item Outstanding checksDeposits in transitCash balance per booksElectronic funds transfer receivedInterest earnedNSF checkSafety deposit box rentAdjusted cash balance per books	$enter a dollar amount
	select a reconciling item Outstanding checksSafety deposit box rentElectronic funds transfer receivedInterest earnedCash balance per booksAdjusted cash balance per booksNSF checkDeposits in transit	enter a dollar amount
				enter a subtotal of the two previous amounts
				enter a subtotal of the two previous amounts
select between addition and deduction LessAdd :
	select a reconciling item Interest earnedAdjusted cash balance per booksDeposits in transitSafety deposit box rentOutstanding checksElectronic funds transfer receivedCash balance per booksNSF check	enter a dollar amount
	select a reconciling item Electronic funds transfer receivedDeposits in transitCash balance per booksNSF checkOutstanding checksInterest earnedSafety deposit box rentAdjusted cash balance per books	enter a dollar amount
				enter a subtotal of the two previous amounts
select a closing name for section two Adjusted cash balance per booksDeposits in transitOutstanding checksCash balance per booksElectronic funds transfer receivedInterest earnedNSF checkSafety deposit box rent			$enter a total amount for the second section

SHOW LIST OF ACCOUNTS
LINK TO TEXT	LINK TO VIDEO

Prepare the adjusting entries at September 30, assuming the NSF check was from a customer on account. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30	enter an account title to record electronic funds transfer received by bank on September 30	enter a debit amount	enter a credit amount
	enter an account title to record electronic funds transfer received by bank on September 30	enter a debit amount	enter a credit amount
	(To record electronic funds transfer received by bank)
Sept. 30	enter an account title to record interest earned on checking account on September 30	enter a debit amount	enter a credit amount
	enter an account title to record interest earned on checking account on September 30	enter a debit amount	enter a credit amount
	(To record Interest earned on checking account)
Sept. 30	enter an account title To record NSF check on September 30	enter a debit amount	enter a credit amount
	enter an account title To record NSF check on September 30	enter a debit amount	enter a credit amount
	(To record NSF check)
Sept. 30	enter an account title to record charges for safety deposit box rent on September 30		ent
	enter an account title to record charges for safety deposit box rent on September 30
	(To record charges for safety deposit box rent)

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