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P5-2: Bank reconciliation The cash account for Deaver Consulting at October 31, 20Y6, indicated a balance of $15,750. The bank statement indicated a balance of
P5-2: Bank reconciliation The cash account for Deaver Consulting at October 31, 20Y6, indicated a balance of $15,750. The bank statement indicated a balance of $31,095 on October 31, 2046. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding: $10,125 b. A deposit of $4,120, representing receipts from October 31, had been made too late to appear on the bank statement C. The bank had collected $10,400 on a note left for collection. The face of the note was $10,000. d. A check for $1,200 returned with the statement. Had been incorrectly recorded by Deaver Consulting as $120. The check was for the payment of an obligation to Oxford Office Supplies Co. for the purchase of office supplies on account e. A check drawn for $320 had been incorrectly charged by the bank as $230. f. Bank service charges for October amounted to $70. Instructions: Prepare the Account Reconciliation DEAVER CONSULTING Bank Reconciliation Statement October 31, 20Y6 Unadjusted bank balance, October 31
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