Question
B. Baylor, the controller of the Baylor Company, provided the following information: Baylor Company Bank Reconciliation Oct 31, 2020 Bank Statement Balance $19,687.60 Book Balance
B. Baylor, the controller of the Baylor Company, provided the following information: Baylor Company Bank Reconciliation Oct 31, 2020 Bank Statement Balance $19,687.60 Book Balance $45,548.66 Add: Deposit of Oct 31in transit 4280.45 Deduct Deduct #537 $725.00 NSF cheque $25,140.95 #542 2965.34 3690.34 Bank Service charges 130.00 25,270.95 Adjusted Bank Balance $20,277.34 Adjusted book balance $20,277.71 The cash account in the general ledger appeared as follows on November 30. Cash (101) Date Explanation Debit Credit Balance 2020 Oct. 31 Balance $20,277.71 Nov. 1 Cheque #543 6505.12 13,772.59 1 Cheque #544 854.71 12,917.88 1 Cheque #545 1,156.94 11,760.94 1 Cheque #546 2,564.24 9,196.70 1 Cheque #547 1,345.68 7,851.02 1 Cheque #548 56.45 7,794.57 1 Cheque #549 564.23 7,230.34 9 Deposit 1,548.97 8,779.31 9 Cheque #550 3,457.15 5,322.16 9 Cheque #551 985.64 4,336.52 18 Deposit 5,649.85 9,986.37 20 Cheque #552 5,556.71 4,429.66 27 Cheque #553 964.25 3,465.41 29 Deposit 1,250.65 4,716.06 The following bank statement is available for November 2020: Bank Statement November 30 To Baylor Company Bank of Canada Cheques/Charges Deposits/Credits Balance 19,687.60 #549 11/01 564.23 11/01 4,280.45 23,403.82 #543 11/02 6,505.12 16,898.70 #537 11/07 725.00 16,173.70 #551 11/09 985.64 11/09 1,584.97 16,773.03 #542 11/12 2,965.34 13,807.69 #544 11/14 854.71 12,952.98 #547 11/18 3,145.68 11/18 5,649.85 15,457.15 #545 11/20 1,156.94 14,300.21 #546 11/29 2,564.24 11,735.97 SC 11/30 105.00 11/30 11,630.97 NSF Non Sufficient Fund SC Service Charge IN Interest Earned Q1 Prepare a bank reconciliation for Baylor Company for the month of November 2020. Assume that any error made were by the bookkeeper (cheque #547 was for advertising expenses; the deposit of November 9 was regarding a credit customer, Val Pacino). Q2 Prepare the necessary entries resulting from the bank reconciliation.
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