The bank portion of the bank reconciliation for Oriole Company at October 31, 2017, is as follows. ORIOLE COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit $12,507.90 1,530.20 14,038.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,260.40 684.20 844.50 434.55 1,050.00 4,273.65 $9,764.45 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following checks and deposits. Bank Statement Date 11-1 11-2 11-5 11-4 11-8 11-10 11-15 11-18 Checks Number 2470 2471 2474 2475 2476 2477 2479 Amount $ 684.20 844.50 1.050.00 1,640.70 2,830.00 600.00 1,750.00 1.330.00 695.40 575.50 940.00 $12.940.30 Deposits Date Amount 11-1 $1,530.20 11-4 1,211.60 11-8 990.10 11-13 2.575.00 11-18 1,472.70 11-21 2.945.00 11-25 2.567.30 11-28 1,650.00 11-30 1.186.00 Total 16,127.90 2480 11-27 11-30 11-29 2481 2483 2486 Total The cash records per books for November showed the following. Date 11-1 11-2 Number 2475 11-2 11-4 11-8 2476 2477 2478 2479 2480 2481 Cash Payments Journal Amount Date Number $1,640.70 11-20 2483 2,830.00 11-22 2484 600.00 11-23 2485 538.20 11-24 2486 1.705.00 11-29 2487 1,330.00 11-30 2488 695.40 Total 612.00 Amount $575.50 821.75 974.80 940.00 398.00 800.00 $14,461.35 Cash Receipts Journal Date Amount 11-3 $1,211.60 11-7 990.10 11-12 2,575.00 11-17 1,472.70 11-20 2,954.00 11-24 2,567.30 11-27 1,650.00 11-29 1,186.00 11-10 11-15 11-18 2482 The cash records per books for November showed the following. Date 11-1 11-2 11-2 11-4 Number 2475 2476 2477 Cash Payments Journal Amount Date Number $1,640.70 11-20 2483 2,830.00 11-22 2484 600.00 11-23 2485 538.20 11-24 2486 1,705.00 11-29 2487 1,330.00 11-30 2488 695.40 Total 612.00 Amount $575.50 821.75 974.80 940.00 398.00 800.00 $14,461.35 2478 Cash Receipts Journal Date Amount 11-3 $1,211.60 11-7 990.10 11-12 2,575.00 11-17 1,472.70 11-20 2,954.00 11-24 2,567.30 11-27 1,650.00 11-29 1,186.00 11-30 1,444.00 Total $16,050.70 11-8 2479 11-10 2480 11-15 11-18 2481 2482 The bank statement contained two bank memoranda: 1. 2. A credit of $2,362.00 for the collection for Oriole Company of an electronic funds transfer. A debit for the printing of additional company checks $92.75. At November 30, the cash balance per books was $11,353.80 and the cash balance per bank statement was $17,964.75. The bank did not make any errors, but Oriole Company made two errors. (b) Prepare a tabular analysis for the adjustments based on the reconciliation. Include margin explanations for the changes in revenues and expenses. (Note: 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.) (if a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) Assets Liabilities Accts. Rec. Accts. Pay. Cash Rev. Nov. 30 30 30 30 Save for Later Attempts: 0 of 1 used Submit Answer (b) Prepare a tabular analysis for the adjustments based on the reconciliation. Include margin explanations for the changes in revenues and expenses. (Note: 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.) (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) Stockholders' Equity Liabilities Accts. Pay. Rev. Exp. Save for Later Attempts: 0 of 1 used Submit
