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He QUESTION 2 (20 marks) The following data have been gathered for Kapahulu Company to assist you in preparing the August 31, 2020, bank reconciliation:
He QUESTION 2 (20 marks) The following data have been gathered for Kapahulu Company to assist you in preparing the August 31, 2020, bank reconciliation: a) The August 31, 2020 bank statement balance was $8,000. b) The bank statement included $37.50 of service charges c) There was an electronic funds transfer (EFT) deposit of $1.125 on the bank statement for the balance owed to Kapahulu from an account receivable d) Cheques #541 and #543 for $256.25 and $400, respectively. were not among the cancelled cheques returned with the statement e) The August 31, 2020 deposit of $5,543.75 did not appear on the bank statement. f) The bookkeeper had erroneously recorded a $625 cheque as $6,250. The cheque was written to a bank as a loan payment. g) Included with the cancelled cheques was a cheque written by Smith Company for $500, which was deducted from Kapahulu Company's account by the bank in error. h) The bank statement included an NSF cheque written by Kahuna Company for a $535 payment on account. The bank charged $40 for processing the NSF cheque. i) The GL cash account showed a balance of $7,000 on August 31, 2020 a) Prepare the October 31, 2020, bank reconciliation for Kapahulu Company in good form. (15
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