The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows LANGER COMPANY Bank Reconciliation November 30, 2017 Cash balance per bank Add: Deposits in transit $14,367.90 2,530.20 16,898.10 Less: Outstanding checks Check Number Check Amount $ 2,260.40 720.10 844.50 1,426.80 1,050.00 3451 3470 3472 3474 6,301.80 $10,596.30 Adjusted cash balance per bank 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 Number 3451 3471 Amount Amount 3472 3475 3476 3477 3479 3480 3482 3483 3485 $2,260.40 844.50 1,426.80 1,640.70 1,300.00 2,130.00 3,080.00 600.00 475.50 1,140.00 540.80 15,438.70 $2,530.20 1,211.60 2,365.10 2,672.70 2,945.00 2,567.30 2,836.00 1,025.00 $18,152.90 Total Total The cash records per books for December showed the following Cash Payments Journal Amount Cash Receipts Journal Date Date Number Date Number Amount Amount $475.50 1,140.00 798.00 $1,640.70 12-20 1,300.00 12-22 2,130.00 12-23 621.30 12-24 3,080.00 12-30 600.00 Total $1,211.60 2,365.10 2,672.70 2,954.00 2,567.30 2,836.00 1,025.00 1,690.40 $17,322.10 3477 3486 889.50 $13,933.20 807.40 Total The bank statement contained two memoranda: 1. A credit of $5,145 for the collection of a $5,000 note for Langer Company plus interest of $160.00 and less a collection fee of $15.00. Langer Company has not accrued any interest on the note 2. A debit of $572.80 for an NSF check written by L. Rees, a customer. At December 31, the check had not been redeposited in the bank. At December 31, the cash balance per books was $12,485.20, and the cash balance per the bank statement was $20,154.30. The bank did not make any errors, but two errors were made by Langer Company The bank statement contained two memoranda 1. A credit of $5,145 for the collection of a $5,000 note for Langer Company plus interest of $160.00 and less a collection fee of $15.00. Langer Company has not accrued any interest on the note 2. A debit of $572.80 for an NSF check written by L. Rees, a customer. At December 31, the check had not been redeposited in the bank. At December 31, the cash balance per books was $12,485.20, and the cash balance per the bank statement was $20,154.30. The bank did not make any errors, but two errors were made by Langer Company. Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Round answers to 2 decimal places, e.g. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.) LANGER COMPANY Bank Reconciliation December 31, 2017 CO 3 5 5 SHOW LIST OF ACCOUNTS Prepare the adjusting entries based on the reconciliation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75. For error in check and deposit use accounts payable and accounts receivable.) Date Account Titles and Explanation Dec. 31 Debit Credit (To record collection of note receivable by bank) Dec. 31 (To record NSF Check) Dec. 31 To correct error in recording check) Dec. 31 To correct error in deposit) SHOW HINT SHOW LIST OF ACCOUNTS
