Problem 8-05A a-b (Video) The bank portion of the bank reconciliation for Coronado Company at November 30, 2020, was as follows. Coronado COMPANY Bank Reconciliation November 30, 2020 Cash balance per bank Add: Deposits in transit $14,527.90 2,530.20 17,058.10 Less: Outstanding checks Check Number 3451 3470 3471 3472 3474 Adjusted cash balance per bank Check Amount $ 2,260.40 720.10 844.50 1,426.80 1,055.00 6,306.80 $10,751.30 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Date 12-1 12-2 12-7 Checks Number 3451 3471 3472 3475 3476 3477 3479 Amount $2,260.40 844.50 1,426.80 1,640.70 1,300 2,130 3,080 600 Date 12-1 12-4 12-8 12-16 12-21 12-26 Deposits Amount $ 2,530.20 1,211.60 2,365.10 2,672.70 2,945 2,567.30 2,836 1,025 12-4 12-8 12-10 12-15 12-29 12-27 3480 12-30 12-30 Total $18,152.90 12-29 3482 3483 3485 475.50 1,140 520.80 $15,418.70 12-31 Total The cash records per books for December showed the following. Date 12-1 12-2 Number 3475 3476 3477 3478 3479 Cash Payments Journal Amount Date Number $1,640.70 12-20 3482 1,300 12-22 3483 2,130 12-23 3484 621.30 12-24 3485 3,080 12-30 3486 600 Total 807.40 12-2 Amount $475.50 1,140 793.00 250.80 889.50 $13,728.20 Cash Receipts Journal Date Amount 12-3 $ 1,211.60 12-7 2,365.10 12-15 2,672.70 12-20 2,954 12-25 2,567.30 12-4 12-8 12-10 2,836 3480 3481 12-28 12-30 12-17 12-31 1,025 1,690.40 $17,322.10 Total The bank statement contained two memoranda: 1. A credit of $2,430 for the collection of Langer Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $90.00. At December 31, the cash balance per books was $14,345.20, and the cash balance per the bank statement was $19,602.10. The bank did not make any errors, but Langer Company made two errors. Your answer is partially correct. Try again. Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Round answers to 2 decimal places, e.g. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.) CORONADO COMPANY Bank Reconciliation December 31, 2020 Cash balance per bank statement 14527.90 y Add 41.7 Deposits in transit 2530.20 17058.10 Less T Outstanding checks T No. 3451 2260.40 No. 3470 720.10 X T No. 3471 844.50 T No. 3472 1426.80 T No. 3474 1055 T No. 3486 889.50 7196.30 Adjusted cash balance per bank 9861.80 T Cash balance per books 14345.20 T Electronic funds transfer received 2430 16775.20 7 Less :) Error in deposit T Error in recording check - T Check printing fee | Adjusted cash balance per books x Your answer is incorrect. Try again. Prepare the adjusting entries based on the reconciliation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) No. Account Titles and Explanation Debit Credit Dec. 31 JC (To record collection of note receivable by bank) Dec. 31 (To record bank service charge) Dec. 31 (To correct error in recording check) Dec. 31 T (To correct error in deposit)
