Problem # 5
The following information was used to prepare the March, bank reconciliation for Benson
Machine Works. Identify the items that require adjustment to the cash balance per books and
prepare the appropriate adjusting entries.
1. Included with the
Problem # 4
The cash records of Elston Company show the following:
1. The June 30 bank reconciliation indicated that deposits in transit totaled $390. During July, the general
ledger Cash account shows deposits of $9,600, but the bank statement indicates
Name: My Huyen Trinh
Instructor: Bill Reed
May 31, 2011
Cash balance per bank statement
Add: Deposit in transit
Less: Outstanding check
The August bank statement for Mobile Service shows a balance of $8,900, but the
balance per books shows a cash balance of $8,310. Other information includes:
1. A check for $10 was recorded on the books as $100.
2. Included on
A) JOSH BANKS
Deposit in Transit
1. Bank service charge.
D_ 2. Outstanding checks.
3. Check for $320 correctly written and paid by the bank but incorrectly entered
in the cash payments journal for $230.
4. Deposit in transit.