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Exercise 7-9 This information relates to the Cash account in the ledger of Howard Company Balance September 1-$16,400; Cash deposited-$64,000 Balance September 30-$17,600; Checks written-$62,800 The September bank statement shows a balance of $16,500 at September 30 and the following memoranda Credits Debits NSF Collection of electronic funds transfer $1,830 check: $560 Kane Safety Interest earned on checking account 45 deposit 60 box rent At September 30, deposits in transit were $4,738 and outstanding checks totaled $2,383. 2 Your answer is partially correct. Try again Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.) HOWARD COMPANY Bank Reconciliation September 30, 2017 Cash balance per bank statement Add Deposits in transit Less$시 Outstanding checks Adjusted cash balance per bank Cash balance per books Add Electronic funds transfer received Interest earned Lessstuck on accounting! help please and thanks

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Answer #1

HOWARD COMPANY

Bank Reconciliation

September 30, 2017

                       

Cash balance per bank statement $16,500 4.738 S 21,238 (2,383) Add: Deposits in transit Less: Outstanding checks Adjusted cash balance per bank $18,855 Cash balance per books $17,600 Add: Electronic funds transfer received Interest earned $1,830 $ 45 1.875 19,475 Less: $ 560 NSF check Safety deposit box rent S 60 620 Adjusted cash balance per books $18,855

  

Following are the adjusting entries:-

81131 $18.30 1830.- Cash eh

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