Practice Problem Set 1 (Part Level Submission) The bank portion of the bank reconciliation for Pharoah Company at October 31, 2017, is as follows. PHAROAH COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit $12,517.90 1,530.20 14,048.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,260.40 684.20 844.50 428.80 1,050.00 4,267.90 $9,780.20 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Number Amount 2470 2471 11-1 11-2 11-5 11-4 11-8 11-10 11-15 11-18 11-27 11-30 11-29 2474 2475 2476 2477 2479 2480 2481 2483 2486 Total $ 684.20 844.50 1,050.00 1,640.70 2,830.00 600.00 1,720.00 1,330.00 695.40 Date 11-1 11-4 11-8 11-13 11-18 11-21 11-25 11-28 11-30 Total Amount $1,530.20 1,211.60 990.10 2,575.00 1,472.70 2,945.00 2,567.30 1,650.00 1,186.00 16,127.90 575.50 940.00 $12,910.30 The cash records per books for November showed the following. The cash records per books for November showed the following. Date Amount 11-1 11-2 11-2 Number 2475 2476 2477 2478 2479 2480 2481 Cash Payments Journal Amount Date Number $1,640.70 11-20 2483 2,830.00 11-22 2484 600.00 11-23 2485 538.20 11-24 2486 1,702.00 11-29 2487 1,330.00 11-30 2488 695.40 Total $ 575.50 827.50 974.80 940.00 398.00 800.00 11-4 11-8 Cash Receipts Journal Date Amount 11-3 $ 1,211.60 11-7 990.10 11-12 2,575.00 11-17 1,472.70 11-20 2,954.00 11-24 2,567.30 11-27 1,650.00 11-29 1,186.00 11-30 1,454.00 Total $16,060.70 11-10 11-15 11-18 $14,464.10 2482 612.00 The bank statement contained two bank memoranda: 1. A credit of $2,367.00 for the collection for Pharoah Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $87.00. At November 30, the cash balance per books was $11,376.80 and the cash balance per bank statement was $18,015.50. The bank did not make any errors, but Pharoah Company made two errors. (a) Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2017. (List items that increase balance as per bank & books first.) PHAROAH COMPANY Bank Reconciliation Click if you would like to Show Work for this question: Open Show Work