Question

Use the following to answer questions 21 - 25 TJ Company's cash ledger reports the following for the month ending October 31, 20XE. Deposits Duke od stood usilo 100 4. Solus 17Oct us is 24-Octwo sod 11516-0d Cashier 10 26.10 SI Lused 10 SX Balance on October 512.00 Recipe Dushur me 1 20 Balance on October 1974, Information from October's bank statement and company records reveals the following additional information: The ending cash balance shown on the bank statement is $109,405. b) Cash receipts of $8,000 from 10/26-10/27 are outstanding. c) Checks 1156 and 1157 are outstanding. ) The deposit on 10/24 includes a customer's check for $1,000 that did not clear the bank (NSF check). c) Check 1154 was written for $1,000 for a desk purchased in October. The bank properly recorded the check for this amount. An automatic withdrawal for November rent was made on October 29 for $2,200. 2) TJ's checking account earns interest based on the average daily balance. The amount of interest earned for October is $35. b) Last year, one of TJ's customers requested their A/R be converted to a Note Receivable (they owed $3,000 to TJ). On October 29th, the customer paid $3,100 ($3,000 note amount plus $100 interest) directly to the bank in payment for the amount they owed TJ. The bank charged the following service fees: $25 for NSF check and $5 account maintenance fee.

Answer 1

& the the total company cash amount needed to reconcile account Ams: Balance al per company's can lidgel Report - Balance as per Bank statement - $74,8001 $109, 4105 Difference to be reconciled $34,605 Answer- & 34, 605 zos. $ what ů the company's cash balance after the reconciliation? And $83,705 Ans Amount Amount $109405 Particulars Balance al per Bank Statement Adds outstanding cash Reccents Leur checks withdrawn $8,000 $33,700 Corrected Balance $83,705 Balance as per calh ledger a Cath Ledger $74,800 Report Less & Customer's check deposited $1,000 but not cleared Addr check amount wrongly $9,000 recorded Len r Rent $2,200 Adde Interest Earned $ 35 Add Direct deposit (Note Receivable) $3100 along with interest Leur Bank charges ($25 + $5) $30 cash balance offel Reconciliation $83,705