Problem 4-2B Prepare the bank reconciliation and record cash adjustments (LO5)

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On October 31, 2015, the bank statement for the checking account of Blockwood Video shows a balance of $12,639, while the companys records show a balance of $12,376. Information that might be useful in preparing a bank reconciliation is as follows:

a.	Outstanding checks are $1,275.
b.	The October 31 cash receipts of $830 are not deposited in the bank until November 2.
c.	One check written in payment of utilities for $146 is correctly recorded by the bank but is recorded by Blockwood as a disbursement of $164.
d.	In accordance with prior authorization, the bank withdraws $659 directly from the checking account as payment on a note payable. The interest portion of that payment is $59 and the principal portion is $600. Blockwood has not recorded the direct withdrawal.
e.	Bank service fees of $33 are listed on the bank statement.
f.	A deposit of $576 is recorded by the bank on October 13, but it did not belong to Blockwood. The deposit should have been made to the checking account of Hollybuster Video, a separate company.
g.	The bank statement includes a charge of $84 for an NSF check. The check is returned with the bank statement, and the company will seek payment from the customer.