Problem 7-05A a-b (Video) The bank portion of the bank reconciliation for Splish Brothers Inc. at October 31, 2020, is shown below. Splish Brothers Inc. Bank Reconciliation October 31, 2020 Cash balance per bank Add: Deposits in transit $12.267.90 1.490.20 13,758.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Check Amount $ 1.320.40 604.20 824.50 566.80 1.170.00 4.485.90 $9.272.20 Adjusted cash balance per bank 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 $ 604.20 11-1 $ 1,490-20 11- 2 2471 824.50 11-4 1.291.60 11-5 2474 1,170.00 11-8 1.010.10 11-4 2475 1,720.70 11-13 2.635.00 11-8 2476 2,840.00 11-18 1,572.70 11-10 2477 600.00 11-19 EFT 2.202.00 11-15 2479 1,830.00 11-21 2.845.00 11-18 2480 1,350.00 11-25 2.627.30 11-27 2481 835.40 11-28 1.690.00 11-28 SC 65.00 11-30 1.166.00 11-30 2483 715.50 Total 18.529.90 11-29 2486 960.00 Total $13.515.30 The cash records per books for November showed the following. Date 11-1 11-2 11-2 11-4 11-8 11-10 11-15 11-18 Number 2475 2476 2477 2478 2479 2480 2481 2482 Cash Payments Amount Date Number $1,720.70 11-20 2483 2,840.00 11-22 248-4 600.00 11-23 2485 518.20 11-24 2486 1,785.00 11-29 2487 1,350.00 11-30 2488 835.40 Total 652.00 Amount $ 715.50 799.50 934.80 950.00 378.00 810.00 $14.899.10 Cash Receipts Date Amount 11-3 $ 1.291.60 11-7 1.010.10 11-12 2.635.00 11-17 1.572.70 11-20 2.854.00 11-24 2.627.30 11-27 1.690.00 11-29 1.166.00 11-30 1,064.00 Total $15.910.70 The bank statement contained two bank memoranda 1. Acredit of $2.202.00 for the collection for Splish Brothers Inc. of an electronic funds transfer. 2. A debit for the printing of additional company checks $65.00. At November 30, the cash balance per books was $10,283.80 and the cash balance per bank statement was $17,282.50. The bank did not make any errors, but Splish Brother 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.) Splish Brothers Inc. Bank Reconciliation Prepare the adjusting entries based on the reconciliation at November 30, 2020. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Nov. 30 (To record collection of accounts receivable) Nov. 30 (To record charge for printing company checks) Nov. 30 (To correct error in recording check) Nov. 30 (To correct error in deposit)
