60.1K

Verified Solution

Link Copied!

How do i put this question into excel with proper formatting because I am struggling to do so.

Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,028 and No. 5893 for $494. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE 16,800 TOTAL CHECKS AND DEBITS 9,617 TOTAL DEPOSITS AND CREDITS 11,270 CURRENT BALANCE 18,453 CHECKS AND DEBITS Date No. Amount Sep. 3 5888 1,028 Sep. 4 5902 719 Sep. 7 5901 1,824 Sep. 17 600 NSF Sep. 20 5905 937 Sep. 22 5903 399 Sep. 22 5904 2.090 Sep. 28 5907 213 Sep. 29 5909 1,807 DEPOSITS AND CREDITS Date Amount Sep. 5 1,103 Sep. 12 2.226 Sep. 21 4,093 Sep. 25 2,351 Sep. 30 12 IN Sep. 30 1,485 CM From Chavez Company's Accounting Records Cash Receipts Deposited Cash Payments Date Cash Debit Check No. Cash Credit Sep. 5 1,103 5901 1,824 12 2,226 5902 719 21 5903 5904 399 2,060 25 4,093 2,351 1,682 11,455 30 5905 5906 5907 5908 5909 937 982 213 388 1,807 9.329 Cash Acct. No. 101 PR Debit Credit Balance Date Explanation Aug. 31 Balance Sep. 30 Total receipts 30 Total payments 15,278 R12 11,455 D23 26,733 9,329 17,404 Additional Information (a) Check No. 5904 is correctly drawn for $2,090 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 $2,060. (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. (e) The credit memorandum (CM) is from the collection of a $1,485 note for Chavez Company by the bank. The collection is not yet recorded. Required 1. Prepare the September 30 bank reconciliation for this company. 2. Prepare journal entries to adjust the book balance of cash to the reconciled balance. Check (1) Reconciled balance, $18,271; (2) Cr. Notes Receivable, $1,485

Answer & Explanation Solved by verified expert

See Answer