The September 30, 2011, bank statement for Cadieux Company and the September ledger account for cash are summarized here:

The September 30, 2011, bank statement for Cadieux Company and the September ledger account for cash are summarized here:

 

BANK STATEMENT
	Checks			Deposits	Other			Balance
Balance, September 1, 2011								$	2,900
September 7					NSF check	$	170		2,730
September 11				$ 3,250					5,980
September 12	#101	$	700						5,280
September 17	#102		1,450						3,830
September 26	#103		1,550						2,280
September 29					EFT deposit		170		2,450
September 30					Service charge		25		2,425

  

+           Cash (A)           –

Sep 1	Balance	2,900
Sep 10		3,250		700	Sep 10            #101
Sep 30		2,350		1,450	Sep 15            #102
				1,550	Sep 22            #103
				50	Sep 28            #104
Sep 30	Balance	4,750

  

     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 electronic funds transfer (EFT) involved transactions with Cadieux Company’s customers.

Requirement 1:

Prepare a bank reconciliation. (Amounts to be deducted should be indicated with minus sign. Omit the "$" sign in your response.)

  

CADIEUX COMPANY Bank Reconciliation September 30, 2011
Bank statement		Company's Books
Ending balance per bank statement	$	Ending balance per cash account		$
Additions:		Additions:
Deposit in transit		EFT
Deductions:		Deductions:
		Bank service charge	$
Outstanding checks		NSF check
Up-to-date cash balance	$	Up-to-date cash balance		$

Requirement 2:

Give any journal entries that should be made as the result of the bank reconciliation.(Record journal entries in the order of EFT deposit, Service charge and NSF check. Omit the "$" sign in your response.)

  

General Journal	Debit	Credit
Cash
Accounts receivable
Office expense
Cash
Accounts receivable
Cash

Requirement 3:

What should the balance in the Cash account be after recording the journal entries in requirement 2? (Omit the "$" sign in your response.)

  

Cash balance

$

 

Requirement 4:

If the company also has $370 of cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet?(Omit the "$" sign in your response.)

  

Cash

$

 
rev: 03-02-2011

Explanation:

Balance sheet (September 30, 2011):

Current assets:

Cash ($4,725 + $370) = $5,095

rev: 03-02-2011

Explanation: The updated cash after the three reconciliation entries $4,725.