Assignment - Fraud, Internal Control, and Cash Question 1 of 2 -/31 PHAROAH COMPANY Bank Reconciliation October 31, 2022 Cash balance per bank Add: Deposits in transit $12.517.90 1.530.20 14,048.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1.260.40 684.20 844.50 427.80 1,050.00 4.266.90 $9.78120 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following checks and deposits Bank Statement Checks Deposits Date Number Amount Date Amount 11-1 2470 $ 684 20 11-1 $1,530.20 11-2 2471 84450 1,21160 11-5 2474 1,050,00 11-8 990.10 11-4 2475 1,640.70 11-13 2,575.00 11.8 2476 2.830.00 11-18 1.472.70 MO7 - Assignment - Fraud, Internal Control, and Cash Question 1 of 2 > -/31 the following checks and deposits Date 11-1 11-2 11-5 11.4 11-8 11-10 11-15 11-18 11-27 11-28 11-30 11-29 Checks Number 2470 2471 2474 2475 2476 2477 2479 2480 2481 SC 2483 2486 Total Bank Statement Deposits Amount Date Amount $684.20 11-1 $1,530.20 844.50 11-4 1.211.60 1,050.00 11-8 990.10 1.640.70 11-13 2,575.00 2,830.00 11-18 1,472.70 600.00 11-19 EFT 2.367.00 1.720.00 11-21 2.945,00 1,330.00 11-25 2,567.30 695.40 11-28 1.650.00 87.00 11-30 1,186,00 575.50 Total 18,494.90 940.00 $12.997,30 The cash records per books for November showed the following Date 11-1 11-2 11-2 Number 2475 2476 2477 Cash Payments Journal Amount Date Number $1,640.70 11-20 2483 2.830.00 11-22 2484 600.00 11-23 2485 Amount $575.50 827,50 974.80 MAG Cash Receipts Journal Date Amount 11-3 $1.211.60 11.7 990.10 11-12 2,575.00 gnment - Fraud, Internal Control, and Cash Question 1 of 2 -/31 The cash records per books for November showed the following Date Amount $575.50 827.50 11-1 11-2 11-2 11-4 11-8 11-10 11-15 11-18 Number 2475 2476 2477 2478 2479 2480 2481 2482 Cash Payments Journal Amount Date Number $1,640.70 11-20 2483 2,830.00 11-22 2484 600.00 11-23 2485 538.20 11-24 2486 1,702.00 11-29 2487 1,330.00 11-30 2488 695.40 Total 612.00 974.80 940.00 398.00 800.00 $14,464.10 Cash Receipts Journal Date Amount 11-3 $ 1.211.60 11-7 990.10 11-12 2.575.00 11-17 1.472.70 11-20 2,954.00 11-24 2,567.30 11-27 1.650.00 11-29 1,186.00 11-30 1,454.00 Total 16,060.70 The bank statement contained two bank memoranda: 1 A credit of $2,367.00 for the collection from a customer for Pharoah Company of an electronic funds transfer. A debit for the printing of additional company checks $87.00 2 At November 30, the cash balance per books was $11.404.80 and the cash balance per bank statement was $18,042.50. The bank did not make any errors, but Pharoah Company made two errors. 7- Assignment - Fraud, Internal Control, and Cash Question 1 of 2 > -/31 Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2022. (List items that increase balance as per bank and books first. Round answers to 2 decimal places, es 5,275.50.) PHAROAH COMPANY Bank Reconciliation + M07 - Assignment - Fraud, Internal Control and Cash ./31 Question 1 of 2 > $ $ e Textbook and Media MO7- Assignment - Fraud, Internal Control, and Cash Question 1 of 2 > -/31 Prepare the adjusting entries based on the reconciliation. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable) (Credit account titles are automatically indented when amount is entered. Do not indene manually. Round answers to 2 decimal places, e... 5,275.50.) Date Account Titles and Explanation Debit Credit Nov 30 I (To record electronic funds transfer received by bank) Nov 30 (To record charge for printing company checks) Nov 30 (To correct error in recordingcheck) Nov 30 (To correct error in deposit) e Textbook and Media
