Problem 7-05A a-b (Video) The bank portion of the bank reconciliation for Larkspur, Inc. at October 31, 2020, is shown below. Larkspur, Inc. Bank Reconciliation October 31, 2020 Cash balance per bank Add: Deposits in transit $12,507.90 1,590.20 14,098.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $1,400.40 524.20 684.50 486.ad 1,070.00 4,165.90 $9.932.20 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 $ 524.20 11-1 $ 1,590.20 11-2 2471 684.50 11-4 1,311.60 11-5 2474 1,070.00 11-8 1,030.10 11-4 2475 1,620.70 11-13 2,615.00 11-8 2476 2,850.00 11-18 1,532.70 11-10 2477 600.00 11-19 EFT 2,192.00 11-15 2479 1,790.00 11-21 2,945.00 11-18 2480 1,130.00 11-25 2,567.30 11-27 2481 835.40 11-28 1,730.00 11-28 SC 85.00 11-30 1,126,00 11-30 2493 475.50 Tatal 18,639.90 11-29 2486 920.00 Total $12,585.30 The cash records per books for November showed the following Cash Payments Date Number Amount Date Number 11-1 2475 $1,620.70 11-20 2483 11-2 2476 2,850.00 11-22 2484 11-2 2477 600.00 11-23 2485 11-4 2478 578.20 11-24 2486 11-8 2479 1,745.00 11-29 2487 11-10 2480 1,130.00 11-30 2488 11-15 2481 835.40 Total 11-18 2482 662.00 Amount $ 475.50 B19.50 984.80 920.00 408.00 770.00 $14,399.10 Cash Receipts Date Amount 11-3 S 1,311.60 11-7 1,030.10 11-12 2,615.00 11-17 1,532.70 11-20 2,954.00 11-24 2,567.30 11-27 1,730.00 11-29 11-30 1,044.00 Total $15,910.70 1,126.00 The bank statement contained two bank memoranda: 1. A credit of $2,192.00 for the collection for Larkspur, Inc. of an electronic funds transfer. 2. A debit for the printing of additional company checks $85.00. At November 30, the cash balance per books was $11,443.80 and the cash balance per bank statement was $18,562.50. The bank did not make any errors, but Larkspur, Inc. made two errors. 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.) 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.) Larkspur, 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.) Date Account Titles and Explanation Debit Credit 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) Click if you would like to Show Work for this question: Open Show Work