COT Print Item Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Capstone Medical Co. at November 30, 2016, indicated a balance of $91,408. The bank statement indicated a balance of $126,590 on November 30, 2016 Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: A. Checks outstanding totaled $33,700. B. A deposit of $18,900, representing receipts of November 30, had been made too late to appear on the bank statement C. The bank collected $22.042 on a $20.600 note, including interest of $1,442. D. A check for $1,600 returned with the statement had been incorrectly recorded by Capstone Medical Co. as S160. The check was for the payment of an obligation to ABC Supply Co. for a purchase on account. E. A check drawn for $680 had been erroneously charged by the bank as $860 F. Bank service charges for November amounted to $40 Instructions Show Me How Calculator Print Item tructions C. The bank collected $22,042 on a $20,600 note, including interest of $1,442. D. A check for $1,600 retumed with the statement had been incorrectly recorded by Capstone Medical Co. as $160. The check was for the payment of an obligation to ABC Supply Co. for a purchase on account. E. A check drawn for $680 had been erroneously charged by the bank as $860. F. Bank service charges for November amounted to $40. Instructions 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Deduct" or "Add" will automatically appear if it is required 2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles. 3. If a balance sheet were prepared for Capstone Medical Co. on November 30, 2016, what amount should be reported as cash? Instructions Chart of Accounts Amount Descriptions Amount Descriptions Bank error in charging check as $680 instead of $860 Bank error in charging check as $860 instead of $680 Bank service charges Check for $860 returned because of insufficient funds Deposit of November 30, not recorded by bank Error in recording check Error in recording November 30 deposit Outstanding checks Proceeds of note collected by bank, including $1,442 interest TOISE eBook Show Me How Calculator Print Item Bank Reconciliation November 30, 2016 1 Cash balance according to bank statement 2 5 6 Adjusted balance Cash balance according to company's records 10 11 12 11 Adjusted balance Bank reconciliation and entries Bank Reconciliation Journal Final Question Bank Reconciliation Journal PAGE 1 JOURNAL 3 DATE DESCRIPTION POST REF DEBIT CREDIT 1 1 2 M 6 3 7 4 00 5 ON 6 10 1 12 13 Adjusted balance k reconciliation and entries Cuction Charo Accounts Bank Reconciliation Journal Final Question nk Reconciliation Journal Final Question 3. If a balance sheet were prepared for Capstone Medical Co. on November 30, 2016, what amount should be reported as cash? IN justed balance