Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The bank portion of the bank reconciliation for Oriole Company at November 30, 2022, was as follows. Oriole Company Bank Reconciliation November 30, 2022 Cash

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The bank portion of the bank reconciliation for Oriole Company at November 30, 2022, was as follows. Oriole Company Bank Reconciliation November 30, 2022 Cash balance per bank $14,767.90 Add: Deposits in transit 2,530.20 17,298.10 Less: Outstanding checks Check Number Check Amount 3451 $2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,051.50 6,303.30 $10,994.80 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 Date Number 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 2,365.1 12-4 3475 1,640.70 12-16 2,672.70 12-8 3476 1,300.00 12-21 2,945.00 12-10 - 3477 2,130.00 12-26 2,567.30 12-15 3479 3,080.00 12-29 2,836.00 12-27 3480 600.00 12-30 1,025.00 12-30 3482 475.50 Total $18,152.90 12-29 3483 1,140.00 12-31 3485 530.80 Total $15,428.70 The cash records per books for December showed the following Cash Receipts Journal Cash Payments Journal Amount Date Number Date Number Amount Date Amount 12-1 3475 $1,640.70 12-20 3482 $475.50 12-3 $1,211.60 12-2 3476 1,300.00 12-22 3483 1,140.00 12-7 2,365.1 12-2 3477 2,130.00 12-23 3484 796,50 12-15 2,672.70 12-4 3478 621.30 12-24 3485 350.80 12-20 2.954.00 12-8 3479 3,080.00 12-30 3486 889.50 12-25 2,567.30 12-10 3480 600,00 Total $13,831.70 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. Acredit of $2,360 for the collection of Oriole Company of an electronic funds transfer. A debit for the printing of additional company checks $87. 2. At December 31, the cash balance per books was $14,485.20, and the cash balance per the bank statement was $19.765.10. The bank did not make any errors, but Oriole Company made two errors. Prepare a bank reconciliation at December 31, 2022. (Round answers to 2 decimal places, eg. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.) ORIOLE COMPANY Bank Reconciliation $ $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 19 - Related-Party Transaction Ruse

Authors: Kate Mooney

1st Edition

0071719415, 9780071719414

More Books

Students also viewed these Accounting questions