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Posted on Aug 28, 2024

Problem 7-05A a-b (Part Level Submission) (Video) The bank portion of the bank reconciliation for Sheffield Corp. at October 31, 2020, is shown below. Sheffield

Problem 7-05A a-b (Part Level Submission) (Video) The bank portion of the bank reconciliation for Sheffield Corp. at October 31, 2020, is shown below. Sheffield Corp. Bank Reconciliation October 31, 2020 Cash balance per bank $12,367.90 Add: Deposits in transit 1,690.20 14,058.10 Less: Outstanding checks Check Number Check Amount 2451 $1,460.40 2470 684.20 2471 864.50 2472 526.80 2474 1,230.00 4,765.90 Adjusted cash balance per bank $9,292.20 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank sta Bank Statement Checks and Debits Deposits and Credits Amount Date Amount Number Date $ 684.20 $1,690.20 11-1 11-1 2470 1,251.60 864.50 11-4 11-2 2471 2472 526,80 CALCLATOR PRINTER VERstON BACK 2474 1,230.00 4,765.90 Adjusted cash balance per bank $9,292.20 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 and Debits Deposits and Credits Date Number Amount Date Amount 11-1 2470 $684.20 11-1 1,690.20 11-2 2471 864.50 11-4 1,251.60 11-5 2474 1,230.00 11-8 910.10 11-4 2475 1,660.70 11-13 2,535.00 11-8 2476 2,880.00 11-18 1,432.70 11-10 2477 600.00 11-19 EFT 2,192.00 11-15 2479 1,750.00 11-21 2,945.00 11-18 2480 1,210.00 11-25 2,607.30 11-27 2481 875.40 11-28 1,650.00 11-28 SC 75.00 11-30 1,146.00 11-30 2483 735.50 18,359.90 Total 11-29 1.140.00 2486 $13,705.30 Total The cash records per bookss for November showed the following. CALCULATOR PRINTER VERSIONE BACK NEXT 11-30 2483 18,359.90 735.50 Total 11-29 1,140.00 2486 Total $13,705.30 The cash records per books for November showed the following. Cash Payments Cash Receipts Number Date Number Amount Date mount Date munt 11-1 2475 $1,660.70 2483 11-20 $735.50 11-3 $1,251.60 11-2 2476 2,880.00 11-22 2484 859.50 11-7 910.10 2477 11-2 600.00 11-23 2485 924.80 2,535.00 11-12 11-4 2478 508.20 11-24 2486 1,140.00 1,432.70 11-17 11-8 2479 1,705.00 11-29 2487 398.00 11-20 2,954.00 11-10 2480 1,210.00 11-30 2488 780.00 11-24 2,607.30 $14,889.10 2481 875.40 Total 11-27 11-15 1,650.00 612.00 11-29 11-18 2482 1,146.00 1,424.00 11-30 $15,910.70 Total The bank statement contained two bank memoranda: 1. A credit of $2,192.00 for the collection for Sheffield Corp. of an electronic funds transfec 2. A debit for the printing of additional company checks $75.00. At November 30, the cash balance per books was $10,313.80 and the cash balance per bank statement was $17,022.50. The bank did not make any errors, but Sheffield Corp. NEXT CALCULATOR PRINTER VERS2ON BACK The bank statement contained two bank memoranda: 1. A credit of $2,192.00 for the collection for Shelffield Corp. of an electronic funds transfer 2. A debit for the printing of additional company checks $75.00. At November 30, the cash balance per books was $10,313.80 and the cash balance per bank statement was $17,022.50. The bank did not make any errors, but Sheffield Corp. made two errors (a) Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2020. (List items that increase balance as per bank & books first, Round answers to 2 decimal places, e.g. 52.75.) Sheffield Corp Bank Reconciliation $ Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT