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The bank portion of the bank reconciliation for Concord Company at November 30, 2022, was as follows Concord Company Bank Reconciliation November 30, 2022 Cash
The bank portion of the bank reconciliation for Concord Company at November 30, 2022, was as follows Concord Company Bank Reconciliation November 30, 2022 Cash balance per bank $14,547.90 Add: Deposits in transit 2,530.20 17,078.10 Less: Outstanding checks Check Number 3451 3470 3471 3472 3474 Adjusted cash balance per bank Check Amount $ 2,260.40 720.10 844.50 1,426.80 1,051.30 6,303.10 $10,775.00 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Amount 12-1 $2,260.40 12-2 844.50 12-7 1,426.80 12-4 1,640.70 12-8 1,300.00 12-10 2,130.00 12-15 3,080.00 12-27 600.00 12-30 475.50 12-29 1,140.00 Number 3451 3471 3472 3475 3476 3477 3479 3480 3482 3483 Date 12-1 12-4 12-8 12-16 12-21 12-26 12-29 12-30 Total Amount $2,530.20 1,211.60 2,365.1 2,672.70 2,945.00 2,567.30 2,836.00 1,025.00 $18,152.90 3483 3485 12-29 1,140.00 12-31 530.80 Total $15,428.70 The cash records per books for December showed the following. Cash Payments Journal Date Number Amount Date Number 12-1 3475 $1,640.70 12-20 3482 12-2 3476 1,300.00 12-22 3483 12-2 3477 2,130.00 12-23 3484 12-4 3478 621.30 12-24 3485 12-8 3479 3,080.00 12-30 3486 12-10 3480 600.00 Total 12-17 3481 807.40 Amount $475.50 1,140.00 796.70 350.80 889.50 $13,831.90 Cash Receipts Journal Date Amount 12-3 $1,211.60 12-7 2,365.1 12-15 2,672.70 12-20 2,954.00 12-25 2,567.30 12-28 2,836.00 12-30 1,025.00 12-31 1,690.40 Total $17,322.10 The bank statement contained two memoranda: 1. A credit of $2,270 for the collection of an accounts receivable of Concord Company through an electronic funds transfer. 2. A debit for the printing of additional company checks $86. At December 31, the cash balance per books was $14,265.20, and the cash balance per the bank statement was $19,456.10. The bank did not make any errors, but Concord Company made two errors. Prepare a bank reconciliation at December 31, 2022. (Round answers to 2 decimal places, e.g. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.) CONCORD COMPANY Bank Reconciliation December 31, 2022 Cash balance per bank statement $ 19,456.10 Add V Deposits in transit 1690.40 21146.5 Less Outstanding checks $ Adjusted cash balance per bank Cash balance per books Add V: $ N $ $ Less V: Error in recording check Error in deposit $ $ Prepare the adjusting entries based on the reconciliation. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) No. Account Titles and Explanation Debit Credit Dec. 31 (To record collection of electronic funds transfer by bank.) Dec. 31 (To record bank service charge) Dec. 31 (To correct error in recording check) Dec. 31 Dec. 31 (To correct error in deposit)
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