*** PUUTIOT the bank reconciliation for Pharoah Company at October 31, 2021, was as follows: PHAROAH COMPANY Bank Reconciliation October 31, 2021 $11.769 Cash balance per bank Add: Deposits in transit 1.540 13,309 Less: Outstanding cheques #2451 $1.400 #2470 920 #2471 845 522 #2472 #2474 1,060 4,747 $8,562 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 Bank Statement November 30, 2021 Cheques and Other Debits Date Number Amount Deposits Amount Oct. 31 $11,769 Nov. 3 2470 $920 $1.540 12.389 4 2471 845 11.544 5 2475 1,641 1.216 11,119 6 2474 1.060 10,059 990 7 2.910 8.139 2476 10 2477 600 7.539 2.575 10.114 13 14 8,364 2479 1.750 1.526 8.560 18 2480 1,330 1.833 10,393 21 25 NSF 270 2.567 12,690 11.995 26 2481 695 10 2477 600 7,539 13 2,575 10,114 14 2479 1.750 8,364 18 2480 1,330 1.526 8,560 21 1.833 10,393 25 NSF 270 2.567 12,690 26 2481 695 11,995 27 1.650 13,645 28 2486 900 EFT 2.490 15,235 28 2483 617 1.186 15,804 30 LN 2.260 13,544 Additional information from the bank statement: 1. The EFT of $2,490 is an electronic transfer from a customer in payment of its account. The amount includes $60 of interest that Pharoah Company had not previously accrued. The NSF for $270 is a $255 cheque from a customer, Pendray Holdings, in payment of its account, plus a $15 processing fee. a -- NA EF 24 15.235 28 2483 617 1.186 15,804 30 LN 2.260 13,544 Additional Information from the bank statement: 1. 2 The EFT of $2,490 is an electronic transfer from a customer in payment of its account. The amount includes 560 of interest that Pharoah Company had not previously accrued. The NSF for $270 is a $255 cheque from a customer, Pendray Holdings, in payment of its account, plus a 515 processing for The company's policy is to pass on all NSF service charges to the customer. The LN is a payment of a note payable with the bank and consists of $260 interest and $2,000 principal At November 30, the cash balance per books was $9.087. The bank did not make any errors. 3 4 The cash records per books for November follow. Two errors were made by Pharoah Company. Cash Payments Date Number Amount Amount Date Number 2475 $1,641 Nov. 3 Nov. 18 2482 $624 The cash records per books for November follow. Two errors were made by Pharoah Company Cash Payments Date Number Amount Date Number Amount Nov. 3 2475 $1,641 Nov. 18 2482 $624 3 2476 2.190 20 2483 617 4 2477 600 21 2484 809 6 2478 523 24 2485 953 8 2479 1,750 26 2486 900 10 2480 1,330 28 2487 1270 14 2481 695 Total $13,902 Cash Receipts Date Amount 14 2481 695 Total $13.902 Cash Receipts Date Amount Nov. 3 $1,216 7 990 12 2,575 17 1.526 20 1,388 24 2,567 27 1,650 28 1,186 30 1,329 Total $14,427 Total 695 14 2481 Cash Receipts Date Amount Nov. 3 $1,216 7 990 12 2,575 17 1,526 20 1,388 24 2,567 27 1,650 28 1,186 30 1,329 Total $14,427 Date Account Titles and Explanation Debit Credit Nov. 30 Cash Accounts Receivable : 2490 Interest Revenue (To record receipt from customer & interest earned & to correct error) Nov. 30 Accounts Receivable Notes Receivable Accounts Payable Interest Expense Cash (To record NSF cheque and other cash payments) Teythook and Media
