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Posted on Sep 18, 2024

8-42 CHAPTER 8 Fraud, Internal Control and Cash Pre a un conciliation and 18.5 (LOD) The bank portion of the bank reconciliacion for Show Host

8-42 CHAPTER 8 Fraud, Internal Control and Cash Pre a un conciliation and 18.5 (LOD) The bank portion of the bank reconciliacion for Show Host November 30, dj o derailed on follow (amounts in the sands) Show More Bank Reconciliation November 30, 2020 HKS1467.90 2,530 20 16.8.10 Cash balance per bank Add Deposite in Ale Less: Outstanding checks Check Nam 1451 3410 Check Amon HK26.40 720.10 84450 1.426.80 1,050.00 3473 6,301.80 HKS10.596 fol Adjusted cash balance per bank The adjusted cash balance per bank agreed with the cash balance per books at November 30 The December bank statement showed the following check and deposits Bank Statement Date Date 12-1 Checks Number 2851 3471 3472 3475 1476 3477 3479 340 34K2 343 3485 Tocal 13-4 18 12-10 12-15 12-27 12.30 12-29 12-31 Amount HK$ 2.260.40 844 50 1.426.80 1.600.70 1,300.00 2.130.00 3.000.00 0.00 475.50 1.140.00 500.80 HK$15,438.70 Deposits Amount HKS 2530 20 1.211.60 2.365.10 2672.70 2.945.00 2.567.30 2.2.00 1,025,00 HK$18,152.90 12-16 12-21 12-26 12-29 12-30 Total The cash recorda per books for December showed the following: Date Number 3475 3476 12-2 3477 3478 12.8 3479 12-10 3480 12-17 3481 Cash Payments Journal Amount Date Number HK$1,640.70 12-20 3482 1.300.00 12.22 3483 2.130:00 12-23 3484 621.30 12-24 3483 3.000,00 12.30 3486 Amount HKS 475.50 1.140.00 798.00 450.80 889.50 HK$13.933.20 Cash Receipts Journal Date Amount 12-3 HKS 1.21160 12-7 12-15 12. 20 12-25 12-28 12-30 12-31 Total HK$17,329.10 2365.10 2.672.0 2.950.00 2.567.0 2.836.00 1.025.00 1.690.00 600.00 Total 107.40 The bank statement contained two memoranda: 1. A credit of HKS2,242 for the collection of Shou Florists of an electronic funds transfer 2. A debit for the printing of additional company checks HK$85 At December 31, the cash balance per books was HK$13.985. 20, and the cash balance per te statement was HK$19.239.10. The bank did not make any errors, but Shou Florists made two errun Problems instructions a. Adjusted balance per books HK$ 16,043.20 tion at December 31, 2020 Using the steps in the reconciliation procedure described in the chapter, prepare a bank reconcilia- A Pure the adjusting entries based on the reconciliation. (Hint: The correction of any errors per taining to recording checks should be made to Accounts Payable. The correction of any errors relat- ing to recording cash receipts should be made to Accounts Receivable.) 8-42 CHAPTER 8 Fraud, Internal Control and Cash Pre a un conciliation and 18.5 (LOD) The bank portion of the bank reconciliacion for Show Host November 30, dj o derailed on follow (amounts in the sands) Show More Bank Reconciliation November 30, 2020 HKS1467.90 2,530 20 16.8.10 Cash balance per bank Add Deposite in Ale Less: Outstanding checks Check Nam 1451 3410 Check Amon HK26.40 720.10 84450 1.426.80 1,050.00 3473 6,301.80 HKS10.596 fol Adjusted cash balance per bank The adjusted cash balance per bank agreed with the cash balance per books at November 30 The December bank statement showed the following check and deposits Bank Statement Date Date 12-1 Checks Number 2851 3471 3472 3475 1476 3477 3479 340 34K2 343 3485 Tocal 13-4 18 12-10 12-15 12-27 12.30 12-29 12-31 Amount HK$ 2.260.40 844 50 1.426.80 1.600.70 1,300.00 2.130.00 3.000.00 0.00 475.50 1.140.00 500.80 HK$15,438.70 Deposits Amount HKS 2530 20 1.211.60 2.365.10 2672.70 2.945.00 2.567.30 2.2.00 1,025,00 HK$18,152.90 12-16 12-21 12-26 12-29 12-30 Total The cash recorda per books for December showed the following: Date Number 3475 3476 12-2 3477 3478 12.8 3479 12-10 3480 12-17 3481 Cash Payments Journal Amount Date Number HK$1,640.70 12-20 3482 1.300.00 12.22 3483 2.130:00 12-23 3484 621.30 12-24 3483 3.000,00 12.30 3486 Amount HKS 475.50 1.140.00 798.00 450.80 889.50 HK$13.933.20 Cash Receipts Journal Date Amount 12-3 HKS 1.21160 12-7 12-15 12. 20 12-25 12-28 12-30 12-31 Total HK$17,329.10 2365.10 2.672.0 2.950.00 2.567.0 2.836.00 1.025.00 1.690.00 600.00 Total 107.40 The bank statement contained two memoranda: 1. A credit of HKS2,242 for the collection of Shou Florists of an electronic funds transfer 2. A debit for the printing of additional company checks HK$85 At December 31, the cash balance per books was HK$13.985. 20, and the cash balance per te statement was HK$19.239.10. The bank did not make any errors, but Shou Florists made two errun Problems instructions a. Adjusted balance per books HK$ 16,043.20 tion at December 31, 2020 Using the steps in the reconciliation procedure described in the chapter, prepare a bank reconcilia- A Pure the adjusting entries based on the reconciliation. (Hint: The correction of any errors per taining to recording checks should be made to Accounts Payable. The correction of any errors relat- ing to recording cash receipts should be made to Accounts Receivable.)