Question
Cash balance per bank $12,507.90 Add: Deposits in transit 1,530.20 14,038.10 Less: Outstanding checks Check Number Check Amount 2451 $ 1,260.40 2470 684.20 2471 844.50
Cash balance per bank | $12,507.90 | |||
---|---|---|---|---|
Add: Deposits in transit | 1,530.20 | |||
14,038.10 | ||||
Less: Outstanding checks | ||||
Check Number | Check Amount | |||
2451 | $ 1,260.40 | |||
2470 | 684.20 | |||
2471 | 844.50 | |||
2472 | 434.55 | |||
2474 | 1,050.00 | 4,273.65 | ||
Adjusted cash balance per bank | $9,764.45 |
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 | 844.50 | 11-4 | 1,211.60 | ||||
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 | ||||
11-10 | 2477 | 600.00 | 11-21 | 2,945.00 | ||||
11-15 | 2479 | 1,750.00 | 11-25 | 2,567.30 | ||||
11-18 | 2480 | 1,330.00 | 11-28 | 1,650.00 | ||||
11-27 | 2481 | 695.40 | 11-30 | 1,186.00 | ||||
11-30 | 2483 | 575.50 | Total | 16,127.90 | ||||
11-29 | 2486 | 940.00 | ||||||
Total | $12,940.30 |
The cash records per books for November showed the following.
Cash Payments Journal | Cash Receipts Journal | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Date | Number | Amount | Date | Number | Amount | Date | Amount | |||||||
11-1 | 2475 | $1,640.70 | 11-20 | 2483 | $ 575.50 | 11-3 | $ 1,211.60 | |||||||
11-2 | 2476 | 2,830.00 | 11-22 | 2484 | 821.75 | 11-7 | 990.10 | |||||||
11-2 | 2477 | 600.00 | 11-23 | 2485 | 974.80 | 11-12 | 2,575.00 | |||||||
11-4 | 2478 | 538.20 | 11-24 | 2486 | 940.00 | 11-17 | 1,472.70 | |||||||
11-8 | 2479 | 1,705.00 | 11-29 | 2487 | 398.00 | 11-20 | 2,954.00 | |||||||
11-10 | 2480 | 1,330.00 | 11-30 | 2488 | 800.00 | 11-24 | 2,567.30 | |||||||
11-15 | 2481 | 695.40 | Total | $14,461.35 | 11-27 | 1,650.00 | ||||||||
11-18 | 2482 | 612.00 | 11-29 | 1,186.00 | ||||||||||
11-30 | 1,444.00 | |||||||||||||
Total | $16,050.70 |
The bank statement contained two bank memoranda:
1. | A credit of $2,362.00 for the collection for Oriole Company of an electronic funds transfer. | |
2. | A debit for the printing of additional company checks $92.75. |
At November 30, the cash balance per books was $11,353.80 and the cash balance per bank statement was $17,964.75. The bank did not make any errors, but Oriole Company made two errors. Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2017. (List items that increase balance as per bank and books first.)
November 30, 2017 Plagiarism Report |. on gener.. NEXT CALCULATOR PRINTER VERSION BACK SAVE FOR LATER: SUBMITStep by Step Solution
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