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eBook Show Me How Bank reconciliation and entries The cash account for Collegiate Sports Co. on November 1, 2099, indicated a balance of $81,145. During
eBook Show Me How Bank reconciliation and entries The cash account for Collegiate Sports Co. on November 1, 2099, indicated a balance of $81,145. During November, the total cash deposited was $293,150, and checks written totaled $307,360. The bank statement indicated a balance of $112,675 on November 30, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $41,840, b. A deposit of $12,200, representing receipts of November 30, had been made too late to appear on the bank statement. c. A check for $7,250 had been incorrectly charged by the bank as $2,750. d. A check for $760 returned with the statement had been recorded by Collegiate Sports Co, as $7,600. The check was for the payment of an obligation to Ramirez Co. on account e. The bank had collected for Collegiate Sports Co. $7,385 on a note left for collection. The face of the note was $7,000. f. Bank service charges for November amounted to $125. 9. A check for $2,500 from Hallen Academy was returned by the bank because of insufficient funds. Required: 1. Prepare a bank reconciliation as of November 30, 2019. Collegiate Sports Co. Bank Reconciliation November 30, 2019 Cash balance according to bank statement Total deductions rk Assignment Show Me How Collegiate Sports Co Bank Neconciliation November 30, 2015 Cash balanceading to bank statement Total Deduction Adjusted balance Cash Balance according to comparecen 00 I DO I DO Il do Total additions Total deduction Adfotod balance 2. Son the earth and (b) that cash The accu ve not been done if the sot egunean eta Pro Check My W on how Total deductions ) od Adjusted balance 2. Journalize the necessary entries (w.) that increase cash and (b) that decrease cash. The accounts have not been dood. If an amount box does not require an entry, leave it blank 2049 NOV, 30 d1 1110 Nov. 30 If balance sheet were prepared for Collegiate Sports Co, en Nomber 30, 20, what should be reported at Press Check My Work mechMy Workeaning 12:15 PM 6.35 O BI MA
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