1 [35 points] Consider the following information and prepare a bank reconciliation, along with any resulting journal entries, for Stake Technology Inc. for the month ended October 31, 2015. Please enter journal entries for each of the following, if required. 1. Outstanding deposit 2. Interest earned 3. NSF cheque 4. Bank service charge 5. Error 6. Notes receivable collected 7. Outstanding cheque Bank statement balance Add: Outstanding deposit Stake Technology Inc. Bank Reconciliation September 30, 2015 22,250 Book balance Add: Interest earned 22,154 1,050 23,300 11 22,165 Deduct: Deduct: Outstanding cheques: Bank service charge 15 #467 1,150 Adjusted bank balance 22,150 Adjusted book balance 22,150 Bank Statement To: Stake Technology Inc. Cheques/Charges/Debits October 31, 2015 Deposits/Credits Balance 22,250 #467 October 20, 2015 1,150 October 3, 2015 1,050 22,150 #472 October 20, 2015 1,350 October 7, 2015 1,150 21,950 #468 October 20, 2015 950 October 12, 2015 750 21,750 #473 October 20, 2015 1,200 October 16, 2015 1,200 21,750 #470 October 20, 2015 950 October 20, 2015 750 21,550 NSF October 20, 2015 350 21,200 #469 October 31, 2015 900 20,300 #471 October 31, 2015 1,000 Notes receivable collected 450 19,750 Bank service charge October 31, 2015 15 Interest earned 9 19,744 The NSF cheque for $350 was that of a customer. Date Cash Desc. PR Debit Account No. 101 Cheques Written Credit Balance No. 468 950 30/Sep Balance 31/Oct CR10 22,150 469 900 5,250 27,400 470 950 21/00+ CD12 0.550 17.950 171 1.000 #475 October 20, 2013 1,200 October 16, 2015 1,200 21,750 #470 October 20, 2015 950 October 20, 2015 750 21,550 NSF #469 October 20, 2015 350 21,200 #471 October 31, 2015 October 31, 2015 900 20,300 1,000 Bank service charge October 31, 2015 15 Notes receivable collected Interest earned 450 19,750 9 19,744 The NSF cheque for $350 was that of a customer. Cash Account No. 101 Cheques Written Date Desc. PR Debit Credit Balance No. 468 950 30/Sep Balance 22,150 469 900 31/Oct CR10 5,250 27,400 470 950 31/Oct CD12 9,550 17,850 471 1,000 472 1,350 473 1,200 Deposits Made 474 1,000 October 7 1,150 475 1,150 12 750 476 1,050 16 1,200 Total Cash Disbursements in October 9,550 20 750 31 1,400 Total Cash Receipts in October 5,250 a) Prepare a bank reconciliation, for Stake Technology Inc. for the month ended October 31, 2015. Bank statement balance Add: +- Deduct: +- Outstanding cheques: Adjusted bank balance Stake Technology Inc. Bank Reconciliation October 31, 2015 Book balance Add: + - Deduct: +- Adjusted book balance b) Prepare resulting journal entries, if any. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Date General Journal Account/Explanation F Debit Page GJ3 Credit +