The information below relates to the Cash account in the ledger of Robertson Com

Question

The information below relates to the Cash account in the ledger of Robertson 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 $16,422 on September 30 and the following memoranda.

Collection of $1,800 note plus interest $30 $1,830 NSF check: J. E. Hoover $360
Interest earned on checking account $45 Safety deposit box rent $50

At September 30, deposits in transit were $5,026, and outstanding checks totaled $2,383.

a)prepare the bank reconcilition at september 30,2018
b)prepare the adjusting entries at september 30 assuming (1) the NSF check was from a sustomer on account, an (2) no interest had been accrued on the note   

Explanation / Answer

Bank Reconciliation Cash Balance as per bank statement 16422 Add: Deposit in transit 5026 21448 Less: Outstanding checks 2383 Adjusted cash balance as per bank 19065 Cash balance per books 17600 Add: Collection of note receivable 1830 Interest earned 45 1875 19475 Less: NFS check 360 Safety deposit box rent 50 410 Adjsuted Cash balance per books 19065 b Accounts receivable - J. E. Hoover 360            Cash 360 Cash 1830        Note receivable 1800        Interest revenue 30 Cash 45        Interest revenue 45 Miscellaneous expense 50            Cash 50

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