Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 4 View Policies Current Attempt in Progress The bank portion of the bank reconciliation for Wildhorse Co. at October 31, 2022, is shown below.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 4 View Policies Current Attempt in Progress The bank portion of the bank reconciliation for Wildhorse Co. at October 31, 2022, is shown below. WILDHORSE CO. Bank Reconciliation October 31, 2022 Cash balance per bank $12,677.90 Add: Deposits in transit 1,530.20 14,208.10 Less: Outstanding checks Check Number Check Amount 2451 $1,260.40 684.20 844.50 2470 2471 2472 2474 427.80 1.050.00 4.266.99 59.941.20 Adjusted cash balance per bank The adjusted cash balance per bank agreed with the cash balance per books at October 31. The Novem UP The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showe checks and deposits. Bank Statement Checks Deposits Date Number Amount Amount Date 11-1 11-1 2470 $ 684.20 $ 1,530.20 11- 2 2471 11-4 11-5 11-8 2474 2475 11-4 1,211.60 990.10 2,575.00 1,472.70 2,447.00 11-8 844.50 1,050.00 1,640.70 2,830.00 600.00 1,740.00 1,330.00 695.40 2476 2477 2479 11-10 11-15 11-13 11-18 11-19 EFT 11-21 11-25 11-28 11-18 2480 2.567.30 1,650.00 11-27 2481 11-28 SC 91.50 11-30 1.186.00 11-30 2483 Total 18.574.90 575.50 940.00 11-29 2486 Total $13.021.80 The cash records per books for November showed the following The cash records per books for November showed the following Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number 11-1 11-2 2475 2476 2477 $1,640.70 2,830.00 600.00 11-20 11-22 11-23 2483 2484 2485 Amount $575.50 823.00 Date 11-3 11-7 11-2 11-4 Amount $1,211.60 990.10 2.575.00 1.472.70 2,954.00 2,567.30 1,650.00 2478 5 38.20 11-24 2486 11-12 11-17 11-20 11-8 2479 1,704.00 974.80 940.00 398.00 800.00 $14.461.60 11-29 2487 11-10 2480 2488 1,330.00 695.40 11-30 Total 11-15 2481 11-24 11-27 11-29 11-30 11-18 2482 6 12.00 1,186.00 1.614.00 Total 16.220.70 The bank statement contained two bank memoranda: 1. Acredit of $2.447.00 for the collection from a customer for Wildhorse Co. of an electronic funds transfer. 2. A debit for the printing of additional company checks $91.50. At November 30, the cash balance per books was $11.833.40 and the cash balance per bank statement was $18.364.10. The bank did not make an errors, but Wildhorse Co. made two errors. Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2022. (List Items that increase balance as per bank and books first. Round answers to 2 decimal places, eg. 5,275.500) WILDHORSE CO. Bank Reconciliation e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Forensics Body Of Knowledge

Authors: Darrell D. Dorrell, Gregory A. Gadawski

1st Edition

0470880856, 978-0470880852

More Books

Students also viewed these Accounting questions

Question

Networking is a two-way street. Discuss this statement.

Answered: 1 week ago