Prepare the bank reconciliation for CNX Inc. at April 30 using the following information. (1) The unadjusted balance per bank statement as of April 30 was $21,960. (2) The unadjusted balance per books as of April 30 was $19,600. (3) The bank statement shows cheque printing fees of $350. (4) CNX's cash custodian made a bank deposit of $2,776 on April 30. However, the deposit was not processed by the bank until May 6. (5) The bank collected a note receivable for $4,079 on behalf of the company. (6) EFT receipts for $475 were received by the bank from CNX's customers. These EFT receipts were also recorded by CNX. (7) A NSF cheque for $468 was returned by the bank. (8) $3,175 of cheques are still outstanding. (9) In payment of the company utilities, CNX's bookkeeper mistakenly recorded the payment as $343.74 instead of $293.74. The correct amount was written on the cheque and paid by the bank. (10) A deposit for $1,500 was made by CNX but was erroneously reported by the bank as $150. The correct amount was reported in CNX's books.

Prepare the bank reconciliation for CNX Inc. at April 30 using the following information. (1) The unadjusted balance per bank statement as of April 30 was $21,960. (2) The unadjusted balance per books as of April 30 was $19,600. (3) The bank statement shows cheque printing fees of $350. (4) CNX's cash custodian made a bank deposit of $2,776 on April 30. However, the deposit was not processed by the bank until May 6. (5) The bank collected a note receivable for $4,079 on behalf of the company. (6) EFT receipts for $475 were received by the bank from CNX's customers. These EFT receipts were also recorded by CNX. (7) A NSF cheque for $468 was returned by the bank. (8) $3,175 of cheques are still outstanding. (9) In payment of the company utilities, CNX's bookkeeper mistakenly recorded the payment as $343.74 instead of $293.74. The correct amount was written on the cheque and paid by the bank. (10) A deposit for $1,500 was made by CNX but was erroneously reported by the bank as $150. The correct amount was reported in CNX's books.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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