The bank portion of the bank reconciliation for Cullumber Company at October 31, 2021, was as follows: CULLUMBER COMPANY Bank Reconciliation October 31, 2021 Cash balance per bank Add: Deposits in transit $11,699 1,600 13,299 Less: Outstanding cheques #2451 #2470 #2471 #2472 #2474 Adjusted cash balance per bank $1,200 970 897 463 1,030 4,560 $8,739 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following: CULLUMBER COMPANY Bank Statement November 30, 2021 Cheques and Other Debits Date Number Amount Deposits Oct. 31 Nov. 3 Amount $11,699 12,329 $1,600 4 2470 2471 2475 5 $970 897 1,641 1,030 1,620 1,189 6 2474 11,432 10,980 9,950 9,320 8,720 11,295 7 2476 990 10 2477 600 13 2,575 14 2479 1,750 1.330 18 2480 1,371 1,722 21 9,545 9,586 11.308 13,595 12.900 25 NSF 280 2,567 26 2481 695 27 14.550 28 2486 1,650 EFT 2,490 1,186 16,140 28 900 521 2,270 2483 16,805 30 LN 14,535 Additional information from the bank statement: 1. The EFT of $2,490 is an electronic transfer from a customer in payment of its account. The amount includes $60 of interest that Cullumber Company had not previously accrued. The NSF for $280 is a $265 cheque from a customer, Pendray Holdings, in payment of its account, plus a $15 processing fee. The 2. company's policy is to pass on all NSF service charges to the customer. 3. The LN is a payment of a note payable with the bank and consists of $270 interest and $2,000 principal. 4. At November 30, the cash balance per books was $10.075. The bank did not make any errors. The cash records per books for November follow. Two errors were made by Cullumber Company. Cash Payments Amount Date Number Number Amount Date Nov. 3 2475 $1,641 Nov. 18 2482 $605 3 2476 20 4 21 2477 2478 6 24 1,260 600 511 1,750 1,330 695 2483 2484 2485 2486 2487 521 850 958 900 1,160 $12,781 8 2479 2480 10 26 28 Total 14 2481 Cash Receipts Date Amount Nov. 3 $1,189 7 990 12 2,575 17 1,371 20 1,277 24 2,567 27 1,650 28 1,186 30 1,312 Total $14,117 CULLUMBER COMPANY Bank Reconciliation November 30, 2021 Cash balance per bank statement 14535 Add .. Deposits in transit 1312 15847 Less .. Outstanding cheques > No. 2451 $ 1200 No. 2472 v 463 No. 2478 511 No. 2482 605 No. 2484 850 No. 2485 958 No. 2487 1160 5747 Adjusted cash balance per bank $ 10100 Cash balance per books $ 10075 Add EFT collected by Bank $ Error in Nov. 20 deposit of Accounts Receivable Less NSF cheque-Pendray Holdings 280 Loan payment 2000 Error in cheque #2476 for Accounts Payable Adjusted cash balance per books $ Debit Credit Date Account Titles and Explanation Nov. 30 (To record receipt from customer & interest earned & to correct error) Nov. 30 (To record NSF cheque and other cash payments)
