Chapter 04 - Internal Controls, Accounting for Cash, and Ethics Demonstration Problems for Chapter 4 Demonstration Problem 4-1: Bank Reconciliation The bank statement for Greenbrier Furniture Stores showed a balance of $63.289 as of November 30. The unadjusted balance in the general ledger cash account at November 30 was $59,345. An examination of the bank statement disclosed the following information. 1. Outstanding checks totaled $24,598. 2. The bank had issued a S157 credit memo for interest deposited into Greenbrier's account. 3. The bank had deducted $469 for two non-sufficient funds (NSF) checks. 4. The bank statement enclosures included a debit memo for $36 the bank had deducted from Greenbrier's account to pay for new checks. 5. Deposits in transit were $19,060. 6. The bank had mistakenly deducted from Greenbrier's account a $1,246 check drawn on the Greenbay Company Required a. Reconcile the balance shown on the bank statement and the unadjusted balance of the com- pany's cash account to the true cash balance b. What is the amount of cash that should be reported on Greenbrier's balance sheet as of November 307 Demonstration Problem 4-2: Bank Reconciliation