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Chapter Thirteen: Bank Reconciliati on/ Cash Controls ouo fd e nd ed Worksheet It is the end of the fiscal year and RaeMaKhan Industries needs

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Chapter Thirteen: Bank Reconciliati on/ Cash Controls ouo fd e nd ed Worksheet It is the end of the fiscal year and RaeMaKhan Industries needs to reconcile its company books. Use the following events to complete the worksheet below. 1. The closing balance for the bank statement is $438,294. 2. The closing balance of the book is $482,000 3. Check No. 682 for $425 and Check No. 683 for $681 was outstanding in October, 4. Check No. 683 for $681, Check No. 712 for $1,358, and Check No. 720 for $528 outstanding in November. was 5. Check No. 733 for $821 and Check No. 772 for $918 was not remitted in December along with all previously outstanding checks 6. Check No. 682 was cancelled. 7. Check No. 758 for $823 was cancelled. incorrectly written for $1,865 when the bill was actually 8. Check No. 733 was $1,685. The vendor only took the correct amount for the bill. 9. The financial institution collected $7,832 of company outstanding debts for RaeMaKhan. It charged the company $783 for the service. This transaction was not recorded. 10. The bank charged bank services of 1% of closing bank balance. 11. Check No. 492 received from Bankrupt Bank had insufficient funds. The check was for $25,000 and RaeMaKhan's bank charged a NSF fee of $35. 293 C2014 Chapter Thirteen: Bank Reconciliation/ Cash Controls 12. The accountants deposited a $25,463 receipt in the bank after the bank's cutoff time for daily de posits. The deposit was made December 31. 2015 cat e to b e woed mon anibtu 82 8 011 30a 10 dono ol 0STo o IT.oM o 383 ol 885.01 oO b626,2 dmevolt ni ibuo aw be on sew 8re2 1o1 ST b lCET.ooanO gibnistuo vleuov ew on doo b belleno wS80.0M:e:08 n as8 od onorw 8 n 60o inuce to RaeMaKhan Industries Bank Reconciliation 12/31/2015 Account Deorption Prepered ty Drte Benk Account Nunber viewed ty Blance Per Bank atements Belance Per enerl Lede Add: btract Subtrat Balance Balance 297

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