The bank portion of the bank reconciliation for Langer Company at November 30, 2015, was as follows.
The bank portion of the bank reconciliation for Langer Company at November 30, 2015, was as follows. $14,493.94 2.530.20 17,024.14 LANGER COMPANY Bank Reconciliation November 30, 2015 Cash balance per bank Add: Deposits in transit Less: Outstanding checks Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,055.87 Adjusted cash balance per bank 6,307.67 $10,716.47 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 Date 12-1 12-2 12-7 12-4 12-8 12-10 12-15 12-27 12-30 12-29 12-31 Checks Number 3451 3471 3472 3475 3476 3477 3479 3480 3482 3483 3485 Total Amount $2,260.40 844.50 1,426.80 1,640.70 1,300.00 2,130.00 3,080.00 600.00 475.50 1,140.00 530.80 $15,428.70 Date 12-1 12-4 12-8 12-16 12-21 12-26 12-29 12-30 Total Deposits Amount $ 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 The cash records per books for December showed the following. Date 12-1 12-2 12-2 12-4 12-8 12-10 12-17 Number 3475 3476 3477 3478 3479 3480 3481 Cash Payments Journal Amount Date Number $1,640.70 12-20 3482 1,300.00 12-22 3483 2,130.00 12-23 3484 621.30 12-24 3485 3,080.00 12-30 3486 600.00 Total 807.40 Amount $475.50 1,140.00 792.13 350.80 889.50 $13,827.33 Cash Receipts Journal Date Amount 12-3 $ 1,211.60 12-7 2,365.10 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 $5,265.58 for the collection of a $5,120.58 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 $578.67 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 $14,211.24, and the cash balance per the bank statement was $21,905.05. The bank did not make any errors, but two errors were made by Langer Company. Your answer is correct. Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Enter answers to 2 decimal places, e.g. 15.25. List items that increase cash balance first.) LANGER COMPANY Bank Reconciliation December 31, 2015 Cash balance per bank statement Add Deposits in transit $121,905.05 71690.40 123595.45 TOutstanding checks No. 3486 No. 3484 No. 3481 No. 3478 No. 3474 No. 3470 06 30 14886.30 TAdjusted cash balance per bank $118709.15 Cash balance per books) Add Note collected by bank s114211.24 15265.58) 119476.82 Less $1578.67 NSF check TError in recording check "Error in deposit 1757.57 TAdjusted cash balance per books $18709.15 Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Enter answers to 2 decimal places, e.g. 15.25.) No. Account Titles and Explanation Debit Credit (To record collection of note receivable by bank) 2. HHHHH (To record NSF Check) 3. (To correct error in recording check) (To correct error in deposit)
