Assignment #4 Question 2 of 4 9/15 III The bank portion of last month's bank reconciliation for Wildhorse Ltd. at February 28 was as follows: WILDHORSE LTD. Bank Reconciliation February 28 Cash balance per bank Add: Deposits in transit $18,005 3,130 21,135 Less: Outstanding cheques #3451 #3470 Reconciled cash balance $1,971 2,124 $17,040 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at February 28. The March bank statement showed the following: WILDHORSE LTD. Bank Statement March 31 Amounts Deducted from Account (Debits) Amounts Added to Account (Credits) Date Feb. 28 Description Opening balance Cheque, No. 3451 Balance 18,005 16,034 Mar. 1 1,971 Assignment #4 Question 2 of 4 9 / 15 III 1 3,130 2 2.124 1,986 4 9 10 10 1,671 870 Deposit Cheque, No. 3470 Deposit Cheque, No. 3471 Returned cheque-NSF, J. Mustafa NSF fee EFT, loan payment Cheque, No. 3472 Deposit EFT, collection on account from M. Boudreault Bank service charges and credit card fees 19.164 17,040 19,026 17,355 16,485 16,450 15,244 13,321 16,554 15 35 1,206 1,923 19 26 3.233 31 604 17,158 17,068 31 90 Wildhorse's cash receipts and payments for the month of March showed the following: Cash Receipts Date Amount Date Mar. 4 Mar. $1,986 3,233 4,046 $9,265 26 Cash Payments Number Amount 7 3471 $1,671 15 3472 1.293 29 3473 4,975 $7,939 31 Additional information: Assignment #4 Question 2 of 4 9 / 15 III $9.265 $7,939 Additional information: 1. The EFT loan payment should have been recorded by the company on March 15, but this entry was missed. The payment included $84 of interest and a $1,122 payment on the loan principal. 2. The bank made an error processing cheque #3472. 3. The EFT collection from M. Boudreault was not previously recorded. 4. Bank service charges and debit and credit card processing fees totalling $90 were not previously recorded. (a) Your answer is correct. Calculate the cash balance per books at March 31, prior to reconciliation. Caash balance per books at March 31 $ S 18366 Assignment #4 Question 2 of 4 9/15 III Date Number Amount Date Mar. Mar. 4 7 3471 26 Amount $1,986 3,233 4,046 $9,265 15 3472 3473 $1,671 1,293 4,975 $7,939 31 29 Additional information: 1. The EFT loan payment should have been recorded by the company on March 15, but this entry was missed. The payment included $84 of interest and a $1,122 payment on the loan principal. 2. The bank made an error processing cheque #3472. 3. The EFT collection from M. Boudreault was not previously recorded. 4. Bank service charges and debit and credit card processing fees totalling $90 were not previously recorded. (a) Your answer is correct. Calculate the cash balance per books at March 31, prior to reconciliation. Assignment #4 Question 2 of 4 9/15 Prepare the bank reconciliation at March 31. (List items that increase balance as per bank & books first.) YAP LTD. Bank Reconciliation March 31 Balance per bank statement $ 17068 Add Error in recording cheque #3472 $ Outstanding cheques 4975 Less Outstanding cheques $ $ Assignment #4 Question 2 of 4 9/15 III LESS Vulstalling Cricques $ $ $ $ Save for Later Attempts: 0 of 2 used Submit