Problem 7-4A The bank portion of the bank reconcillation for Bogalusa Company at Octaber 31, 2017, is shown below. BOGALUSA COMPANY October 31, 2017 Cash balance per bank Add: Deposits in transit $12,367.90 1,530.20 13,898.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $1,260.40 684.20 844.50 126.80 1,050.00 4,265.90 $9,632.20 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. Checks ts Date Number Amount 11-1 11-2 2471 11-5 11-4 11-8 11-10 2477 11-15 2479 11-18 2480 11-27 2481 11-30 2483 11-29 2486 Date 11-1 11-4 11-8 11-13 Amount 2470 s 684.20 1,530.20 1,211.60 990.10 2,575.00 844.50 2474 2475 2476 1,050.00 1,640.70 2,830.00 11-18 1,472.70 11-21 1750.00 1-25 2,567.30 11-28 11-30 Total 600.00 2,945.00 1,330.00 695.40 575.50 940.00 1,650.00 1,186.00 16,127.90 Total $12,940.30 The cash records per books for November showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount 11-1 11-2 2476 2,830.00 11-22 2484 11-2 114 2478 11-8 2479 1,705.00 11-29 2487 11-10 2480 1,330.00 11-30 2488 11-15 2481 11-18 2482 Date 11-3 11-7 11-12 Amount 2475 $1,640.70 11-20 2483 575.50 829.50 974.80 940.00 398.00 800.00 $14,469.10 S1,211.60 990.10 2,575.00 1,472.70 2,951.00 2,567.30 1,650.00 1,186.00 1,304.00 $15,910.70 2477 600.00 11-23 2485 538.20 11-24 248 11-20 11-24 11-27 11-29 11-30 Total 695.40 Total 612.00 The bank statement contained two bank memoranda: A credit of $2,242.00 for the collection for Bogalusa Company of an electronic funds transfer. A debit for the printing of additional company checkS $85.00. 1. 2. At November 30, the cash balance per books was s 11,073.80 and the cash balance per bank statement was s 17,712.50. The bank dd not make any errors, but Bogalusa Company made two errors. Your answer is partially correct. Try again. Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2017. (List items that increase balance as per bank and books first.) BOGALUSA COMPANY Bank Reconciliation 30, 2017 Cash balance per bank statement 17,930.90 AddDepasits in transit 1,414 9,334.90 LessOutstanding checks No. 2451 No. 2472 844.50 No. 2478 T 538.2 No. 2482 612 No. 2484 T 822.9 No. 2485 7 974 No. 2487 No. 2488 5839 13629.B Adjusted cash balance per bank Cash balance per books AddError In deposit Less Deposits in transit Outstanding checks Electronic funds transfer received Error in recording chedk VIDEO: SIMILAR PROBLEM Your answer is partially correct. Try again Prepare the adjusting entries based on the recondiliation. (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 Recelvable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles ad Explanation Nov 30 Cash Debit Credit 2367 Accounts Payable 236 1 To record electronic funds transfer received by bank) Nov 30 Bank Charges Expense 87 Cash 87 To record charge for printing company checks) Nov 30 Accounts Payable 18 Cash 18 (To correct error in recording check) Nov 30 Accounts Receivable 9 Cash 9 To correct error in deposit) Click if you would like to Show Work for this question: Open Show Work
