The bank portion of last month's bank reconciliation for Ivanhoe Limited at October 31 is shown here: IVANHOE LIMITED Bank Reconciliation October 31 Cash balance per bank Add: Deposits in transit $ 25,120 3,109 28,229 Less: Outstanding cheques #2472 $ 1,320 #2473 1.770 #2474 1,105 4.195 Reconciled cash balance $ 24,034 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: IVANHOE LIMITED Bank Statement November 30 Amounts Deducted from Account (Debits) Amounts Added to Account (Credits) Date Description Balance 25,120 Oct. 31 Nov. 1 Cheque. No, 2472 1,320 23.800 1 3,109 26,909 Deposit Cheque. No, 2473 2 1.770 25.139 3 Deposit 2,315 27.454 4 Cheque, No. 2475 3.222 24,232 7 Deposit 1.960 26,192 Question 4 of 10 6.67 / 20 7 Deposit 1,960 26,192 8 Cheque, No. 2476 5,430 20,762 10 1,300 19,462 14 Cheque, No. 2477 Deposit Cheque, No 2478 4,710 24,172 15 3.800 20.372 15 6,600 13,772 20 EFT, salaries Deposit Returned cheque-NSF. Glasson Developments 5,890 19,662 25 500 19,162 25 NSF fee 8 19,154 26 1.470 17,684 27 3.200 20,884 28 Cheque, No. 2479 Deposit EFT collection of note receivable and interest Cheque, No. 2481 EFT, salaries Bank service charges 4.925 25,809 30 1,207 24,602 30 6,600 18,002 30 5 17.997 Cash Receipts Cash Payments Date Amount Date Number Amount Nov. 3 $ 2,315 Nov. 1 2475 $3,222 7 1.960 2 2476 4,630 12 4,710 2 2477 1,300 20 5.908 8 2478 3.800 27 3,200 15 2479 1.470 30 3,601 15 EFT. salaries 6,600 $21,694 18 2480 1,185 20 2481 1,207 29 2482 1,690 30 EFT, salaries 6,600 $31.704 1 Additional information: The EFT collection on November 28 was not previously recorded. The collection of the note was for $4,300, plus $ 625 interest. Interest was not previously accrued. 2 EFT payments are recorded when they occur The bank did not make any errors. 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. 3. 4 (a) Your answer is correct Calculate the cash balance per books as at November 30, prior to reconciliation Cash balance per books 14.024 Prepare the bank reconciliation at November 30. (List items that increase balance as per bank & books first.) IVANHOE LIMITED Bank Reconciliation November 30 $ e Textbook and Media List of Accounts Attempts: 0 of 4 used Submit Answer Save for Later Last saved 36 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes
