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 $14,697.90 Add: Deposits in transit 2,530.20 17,228.10 Less: Outstanding checks Check Amount Check Number 3451 $2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,056.70 6,308.50 $10,919.60 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 Deposits Checks Number Date Amount Date Amount 12-1 3451 $2,260.40 12-1 $2,530.20 12-2 3471 844.50 12-4 1,211.60 12-7 3472 1,426.80 12-8 2,365.10 1,640.70 2,672.70 12-4 3475 12-16 12-8 3476 1,300.00 12-21 2,945.00 12-26 2,567.30 12-10 3477 2,130.00 12-15 12-29 3479 3,080.00 2,836.00 1,025.00 $18,152.90 12-27 3480 600.00 12-30 Total 12-30 3482 475.50 12-29 3483 1,140.00 12-31 3485 540.80 $15,438.70 Total The cash records per books for December showed the following. Cash Payments Journal Amount Cash Receipts Journal Number Date Date Number Amount Date Amount 3482 12-3 1,211.60 2,365.10 12-1 3475 $1,640.70 12-20 $475.50 1,300.00 3483 12-7 12-2 3476 12-22 1,140.00 12-2 3477 2,130.00 12-23 3484 791.30 12-15 2,672.70 2,954.00 2,567.30 12-4 3478 621.30 12-24 3485 450.80 12-20 12-8 3479 3,080.00 12-30 3486 889.50 12-25 Total $13,926.50 12-10 3480 600.00 12-28 2,836.00 12-17 3481 807.40 12-30 1,025.00 12-31 1,690.40 Total $17,322.10 The bank statement contained two memoranda: 1. A credit of $5,315 for the collection of a $5,170 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 $579.50 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 $14,315.20, and the cash balance per the bank statement was $22,147.60. The bank did not make any errors, but two errors were made by Langer Company. Using the four steps in the recondiliation 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 Prepare the adjusting entries based on the reconciliation. (Credit account titles are automatically indented when amount accounts receivable.) entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75. For error in check and deposit use accounts payable a Account Titles and Explanation Date Debit Credit Dec. 31 (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)
