| Sheridan Company | | |
| Bank Reconciliation | | |
| November 30, 2022 | | |
| Balance per bank statement | | $17,302.50 |
| Add: Deposit in transit | | 1,204.00 |
| | | 18,506.50 |
| Less: Outstanding checks | | |
| Check No. 2451 | 1,440.40 | |
| Check No. 2472 | 526.80 | |
| Check No. 2478 | 518.20 | |
| Check No. 2482 | 642.00 | |
| Check No. 2484 | 829.50 | |
| Check No. 2485 | 974.80 | |
| Check No. 2487 | 438.00 | |
| Check No. 2488 | 840.00 | |
| | | 6,209.70 |
| Adjusted cash balance | | $12,296.80 |
| | | |
| Balance as per books | | $10,173.80 |
| Add: | | |
| Electronic fund transfer | | 2,252.00 |
| | | 12,425.80 |
| Less: | | |
| Printing charge | 75.00 | |
| Error in recording check (Check No. 2479) ($1,890.00-1,845.00) | 45.00 | |
| Error in deposit ($3,054.00-3,045.00) | 9.00 | |
| | | 129.00 |
| Adjusted cash balance | | $12,296.80 |
Question 9 of 9 5/10 View Policies Show Attempt History Current Attempt in Progress The bank portion of the bank reconciliation for Sheridan Company at October 31, 2022 is as follows. Sheridan Company Bank Reconciliation October 31, 2022 Cash balance per bank $12.287.90 Add: Deposits in transit 1.690.20 13.978.10 Less: Outstanding checks Check Number Check Amount 2451 $1,440.40 2470 784.20 2471 864.50 2472 526.80 2474 1,070.00 4.685.90 Adjusted cash balance per bank $9.292.20 The adjusted cash balance per bank agreed with the adjusted cash balance per books at October 31. All necessary journal entries were made at the end of October. The November bank statement showed the following checks and deposits. Bank Statement Checks and Debits Deposits and Credits Date Number Amount Date Amount 11-1 2470 $784.20 11-1 $1,690.20 11-2 2471 864.50 11-4 1,131.60 11-5 2474 1.070.00 11-8 890.10 11-4 2475 1.620.70 11-13 2.615.00 11-8 2476 2.740.00 11-18 1,532.70 11-10 2477 600.00 11-19 EFT 2,252.00 11-15 2479 1.890.00 11-21 3,045.00 11-18 2480 1.530.00 11-25 2,547.30 11-27 2481 695.40 11-28 1,730.00 11-28 SC 75.00 11-30 1,20600 11-30 2483 655.50 Total 18,639.90 11-29 2484 1100.00 Total $13.625.30 The cash records per books for November showed the following. Cash Payments Cash Receipts Date Number Amount Date Number Amount Date Amount 11-1 2475 $1,620.70 11-20 2483 $ 655.50 11-3 $1,13160 11-2 2476 2.740.00 11-22 2484 B29.50 11-7 B90.10 11-2 2477 600.00 11-23 2485 974.80 11-12 2,615.00 11-4 2478 518.20 11-24 2486 1,100.00 11-17 1,532.70 11-8 2479 1,845.00 11-29 2487 438.00 11-20 3,054.00 11-10 2480 1,530.00 11-30 2488 B40.00 11-24 2,547.30 11-15 2481 695.40 Total $15,029.10 11-27 1,730.00 11-18 2482 64200 11-29 1,206.00 11-30 1,204.00 Total $15.910.70 The November bank statement contained two bank memoranda: 1. Acredit of $2,252.00 for the collection for Sheridan Company of an electronic funds transfer. A debit for the printing of additional company checks $75.00. $ 2. At November 30, the cash balance per books was $10,173.90 and the cash balance per the bank statement was $17,302.50. The bank did not make any errors, but Sheridan Company made two errors. (b) Prepare the adjusting entries based on the reconciliation. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Aug. 31 (To record collection of accounts receivable) Aug. 31 (To record charge for printing company checks) Aug. 31 (To correct error in recording check) Aug. 31 (To correct error in deposit) List of Accounts Save for Later Attempts: 0 of 5 used Submit
