Requirements:
(1) Prepare a bank reconciliation in good format using Word or Excel (you can copy the excel document I posted in the class lecture materials),
(2) Prepare adjusting entries,
(3) Post adjusting entries to a Cash ledger t-account (start with Nov 30 balance) to be sure your adjusted cash balance in the ledger agrees to what you report in the Bank Reconciliation.
The cash records in the books for November showed the following: Chapter 7 Manual Homework Data The bank portion of the bank reconciliation at October 31, 2019 is: $ $ Cash Receipts Journal Date Amount 11-3 $ 1.211.ca 11-7 990.10 11-12 2,775.00 11-17 1,472.70 11-20 2,954.00 11 24 2,567.30 11-27 1,650.00 11-29 1,196.00 11-30 1,104.00 Morgan Company Bank Reconciliation Date 11-1 11-2 11-2 11-4 11-8 11-10 11-15 Cash Payments Journal Amount Date Number 1,640.70 11-18 2,390.00 11-20 2493 620.00 11-22 2494 538.20 11-23 2485 1,705.00 11-24 2486 1,230,00 1129 2487 675.40 11-30 2488 Number 2475 2476 2477 2478 2479 24.80 2481 Amount 612.Da 575.50 829.50 954.80 950.00 898.CD 800.00 October 31, 2019 $12,367.90 Cash balance per bank Add: Deposits in transit 1,530.20 The November bank statement showed the following items: Less: Outstanding checks Check Number 2451 Check Amount $1,22040 2470 094.20 2471 844.50 2472 466.80 Bank Statement Checks/Debits Deposits/Credits Number Amount Date Amount 2451 $ 1,220.40 11-1 $ 1,530,20 2470 684.20 1,211.60 2472 466.00 11-8 990.10 2475 1,040.70 11-10 BC 2,242.00 2476 2,230.00 11-12 2,775.00 2477 620.00 11-18 1,472.70 2479 1,705.00 11-21 2.915.00 2480 1,380.00 11-25 2,567.30 NSF 85.00 11 28 1,050.00 2481 675.40 11-30 1.196.00 2483 575.50 2486 950.00 2488 800.00 2474 1,050.00 Date 11-1 11-2 11-5 11-4 11-9 11-10 11-15 11-18 11 20 11-27 11-30 11-29 11-30 4.209.90 Adjusted cash balance per bank The adjusted cash balance por bank agreed with the cash balance par books at October 31. The boaks side af the reconciliation was completed by recording adjusting entries to the books. The bark side of the reconciliation is completed the next month by comparing the reconciling items to the following month's bank statement to see if the items are still outstanding. If they are still outstanding not received by the bank], they are recorded in next month's reconciliation. If they are no longer autstanding (recorded in the following month's bank statement) you do not need to record them on the reconciliation. Remember, these items were already recorded in the books when created deposits and checks), they cause differences in the cash balances until received by the bank (recorded on the bank side of the reconciliation), BC of $2,242 was for the collection of a $2,100 note for Morgan Company plus interest of $157 less a collection fee of $15. The interest was not accrued (recorded in the books. The NSF check was from Glenn Inc, a customer. Assume any errors in chocks were written for Accounts Payable and all cash receipts were for Accounts Recetvabla. At November 30, the cash balance per books was $11,073.80 and the cash balance per bank statement was $17,854.80. The bank did not make any errors, but Morgan Company made one error
