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he following is information for Dundee Realty: Balance per the bank statement dated October 31, 2023, is $27,230. Balance of the Cash account on the
he following is information for Dundee Realty:
- Balance per the bank statement dated October 31, 2023, is $27,230.
- Balance of the Cash account on the company books as of October 31, 2023, is $5,600.
- $14,730 of customer deposits were outstanding as of September 30; this amount had been deposited to Dundees account in October.
- Cheques written in October that had not cleared the bank as of October 31 were: #8700, $990 #8709, $12,650 #8801, $670 #8815, $150.
- The bank charged Dundees account for a $2,375 cheque of the E-Zone Networks; the cheque was found among the cancelled cheques returned with the bank statement.
- Bank service charges for October amount to $70.
- A customers cheque (Teresa Krant) for $8,050 had been deposited in the bank correctly but was recorded in the accounting records as $8,500.
- Among the cancelled cheques is one for $240 given in payment of an account payable to Decker Company; the bookkeeper had recorded the cheque incorrectly at $420 in the company records.
- The bank statement showed an electronic fund transfer of $23,430 for a customer payment. A bank service fee of $75 was charged.
- A bank deposit of October 31 for $13,470 does not appear on the bank statement.
Required: 1. Prepare a bank reconciliation statement as of October 31, 2023.
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