Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls send full answer The bank portion of the bank reconciliation for Oriole Company at October 31,2024, was as follows: The adjusted cash balance per
pls send full answer
The bank portion of the bank reconciliation for Oriole Company at October 31,2024, was as follows: The adjusted cash balance per bank agreed with the cash balance per books at October 31 . The November bank statement showed the following: Additional information from the bank statement: 1. The EFT of $2,490 is an electronic transfer from a customer in payment of its account. The amount includes $60 of interest that Oriole Company had not previously accrued. 2. The NSF for $260 is a $245 cheque from a customer, Whispering Winds Holdings, in payment of its account, plus a $15 processing fee. The company's policy is to pass on all NSF service charges to the customer. 3. The LN is a payment of a note payable with the bank and consists of $250 interest and $2,000 principal. 4. At November 30, the cash balance per books was $10,631. The bank did not make any errors. The cash records per books for November follow. Two errors were made by Oriole Company. \begin{tabular}{rrrrrr} 6 & 2478 & 556 & 24 & 2485 & 949 \\ 8 & 2479 & 1,750 & 26 & 2486 & 900 \\ 10 & 2480 & 1,330 & 28 & 2487 & 1,270 \\ 14 & 2481 & 695 & Total & & $13,939 \\ \hline \end{tabular} \begin{tabular}{cc} \multicolumn{2}{c}{ Cash Receipts } \\ \hline Date & Amount \\ Nov.3 & $1,158 \\ 7 & 990 \\ 12 & 2,575 \\ 17 & 1,529 \\ 20 & 2,699 \\ 24 & 2,567 \\ 27 & 1,650 \\ 28 & 1,186 \\ 30 & 1,304 \\ Total & $15,658 \\ \hline \hline \end{tabular} Prepare a bank reconciliation at November 30. (List items that increase balance as per bank \& books first.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started