Required:

a. Calculate the cash balance per books at March 31, prior to reconciliation

b. What is the amount of the deposits in transit at March 31?

c. What is the amount of the outstanding cheques at March 31?

d. Prepare a bank reconciliation at March 31.

Hint: For question d, the choices are as follows:

Service charges

EFT collection - Boudreault

Outstanding cheques

EFT loan payment

NSF cheque and fee - Mustafa

Error in recording cheque #3472

Correction in recording deposit March 4

Reconciled cash balance per bank

Balance per bank statement

Deposits in transit

The bank portion of last month's bank reconciliation for Crane Ltd. at February 28 was as follows: The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation at February 28 . The March bank statement showed the following: Crane's cash receipts and payments for the month of March showed the following: Additional information: 1. The EFT loan payment should have been recorded by the company on March 15 , but this entry was missed. The payment included $83 of interest and a $1,140 payment on the loan principal. 2. The bank made an error processing cheque #3472. 3. The EFT collection from M. Boudreault was not previously recorded. 4. Bank service charges and debit and credit card processing fees totalling $89 were not previously recorded