The following information is for Hudson Corporation.
HUDSON CORPORATION
Bank Reconciliation August 31
………………………………………………………………..$41,720
Add: Deposits in transit …………………………….. 6,740
………………………………………………………………….48,460
Less: Outstanding cheques ……………………… 13,760
Adjusted cash balance per bank ……………..$34,700
Additional information:
1. The September bank statement shows the following selected items
2. In September, the company wrote and recorded cheques totalling $127,492.
3. In September, $133,574 of cheques cleared the bank.
4. In September, deposits per bank statement (excluding the EFT collections listed in point 1 of this list) were $125,578.
5. In September, the company recorded deposits totalling $128,658.
Instructions
(a) Calculate the unadjusted balance in the Cash account on September 30.
(b) Calculate the unadjusted balance in the bank account on September 30.
(c) Calculate the deposits intrans it at September 30.
(d) Calculate the outstanding cheques at September 30.
(e) Calculate the adjusted cash balance per bank at September 30.
(f) Prepare any adjusting journal entries required from the reconciliation
Enjoy 24/7 customer support for any queries or concerns you have.
Phone: +1 213 3772458
Email: support@gradeessays.com