The bank portion of the bank reconciliation for Sheridan Company at October 31, 2022, is shown below. SHERIDAN COMPANY Bank Reconciliation October 31, 2022 Cash balance per bank Add: Deposits in transit $12,637.90 1,530.20 14,168.10 Less: Outstanding checks Check Number 2451 2470 Check Amount $ 1,260.40 684.20 844.50 427.80 1,050.00 2471 2472 2474 4,266.90 $9,901.20 Adjusted cash balance per bank 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 Checks Deposits Date Number Amount Date Amount 11-1 2470 $ 684.20 11-1 $ 1,530.20 11-2 2471 844.50 11-4 1,211.60 11-5 2474 1,050.00 11-8 990.10 11-4 2475 1,640.70 11-13 2,575.00 11-8 2476 2,830.00 11-18 1,472.70 11-10 2477 600.00 11-19 EFT 2,427.00 11-15 2479 1,740.00 11-21 2,945.00 11-18 2480 1,330.00 11-25 2,567.30 11-27 2481 695.40 11-28 1,650.00 11-28 SC 87.50 11-30 1,186.00 11-30 2483 575.50 Total 18,554.90 11-29 2486 940.00 Total $13,017.80 The cash records per books for November showed the following. Date Number 11-1 2475 11-2 2476 11-2 2477 11-4 2478 11-8 2479 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 1,704.00 11-29 2487 1,330.00 11-30 2488 695.40 Total Amount $ 575.50 827.00 974.80 940.00 398.00 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 1,574.00 Total 16,180.70 11-10 2480 800.00 11-15 $14,465.60 2481 2482 11-18 612.00 The bank statement contained two bank memoranda: 1. A credit of $2,427.00 for the collection from a customer for Sheridan Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $87.50. At November 30, the cash balance per books was $11,710.00 and the cash balance per bank statement was $18,268.70. The bank did not make any errors, but Sheridan Company made tvo errors. Using the steps in the reconciliation procedure, prepare a bank reconciliation November 30, 2022. (List items that increase balance as per bank and books first. Round answers to 2 decimal places, e.g. 5,275. 50.) SHERIDAN COMPANY Bank Reconciliation V V Prepare the adjusting entries based on the reconciliation. (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.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275. 50.) Date Account Titles and Explanation Debit Credit Nov 30 (To record electronic funds transfer received by bank) Nov 30 (To record charge for printing company checks) Nov 30 (To correct error in recording check) Nov 30 (To correct error in deposit)
