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Question 6 of 6 > - / 50 E View Policies Current Attempt in Progress The bank portion of last month's bank reconciliation for Pharoah
Question 6 of 6 > - / 50 E View Policies Current Attempt in Progress The bank portion of last month's bank reconciliation for Pharoah Limited at October 31 is shown here: PHAROAH LIMITED Bank Reconciliation October 31 Cash balance per bank Add: Deposits in transit $24,650 3,452 28,102 Less: Outstanding cheques #2472 $1,520 #2473 #2474 1,620 1,054 4,194 Reconciled cash balance $23,908 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at October 31. The November bank statement showed the following: The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at October 31. The November bank statement showed the following: PHAROAH LIMITED Bank Statement November 30 Amounts Deducted from Account (Debits) Amounts Added to Account (Credits) Date Description Oct. 31 Nov. 1 1,520 1 3,452 2 1,620 3 2,329 4 3,576 7 1,890 Balance 24,650 23,130 26,582 24,962 27,291 23,715 25,605 20,505 19,405 24,645 21,445 15,545 21,435 21,035 21,027 8 Cheque, No. 2472 Deposit Cheque, No. 2473 Deposit Cheque, No. 2475 Deposit Cheque, No. 2476 Cheque, No. 2477 Deposit Cheque, No. 2478 EFT, salaries Deposit Returned cheque-NSF, Giasson Developments NSF fee 5,100 10 1,100 14 5,240 15 3,200 15 5.900 5,890 20 25 25 400 8 Date Date Nov. Nov. 1 Cash Receipts Amount 3 $2,329 7 1,890 12 5,240 20 5,908 27 3,500 2 Cash Payments Number 2475 2476 2477 2478 2479 EFT, salaries 2480 Amount $ 3,576 4,300 1,100 3,200 2 8 15 30 856 15 1,350 5,900 1,277 $19,723 18 20 2481 1,255 29 2482 EFT, salaries 1,810 5,900 30 $29,668 Additional information: 1. The EFT collection on November 28 was not previously recorded. The collection of the note was for $4,000, plus $979 interest. Interest was not previously accrued. 2. EFT payments are recorded when they occur. 3. The bank did not make any errors. 4. Two errors were made by the company: one in recording a cheque and one in recording a cash receipt. The correction of any errors in the recording of cheques should be made to Accounts Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable. (a) Calculate the cash balance per books as at November 30, prior to reconciliation. Cash balance per books $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit
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