The bank portion of the bank reconciliation for Sunland Company at October 31, 2022, is shown below. SUNLAND COMPANY Bank Reconciliation October 31, 2022 Cash balance per bank Add: Deposits in transit $12,647.90 1,530.20 14,178.10 Less: Outstanding checks Check Number Check Amount 2451 $ 1,260.40 2470 684.20 2471 844.50 2472 427.80 2474 1,050.00 4,266.90 Adjusted cash balance per bank $9.911.20 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 2,432.00 11-15 2479 1,750.00 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 89.25 1,186.00 11-30 11-30 2483 575.50 18,559.90 Total 11-29 2486 940.00 Total $13,029.55 The cash records per books for November showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount Date Amount 11-1 2475 $1,640.70 11-20 2483 $575.50 11-3 $1,211.60 11-2 2476 2,830.00 11-22 2484 825.25 11-7 990.10 11-2 2477 600.00 11-23 2485 974.80 11-12 2,575.00 11-4 2478 538.20 11-24 2486 940.00 11-17 1,472.70 11-8 2479 1,705.00 11-29 2487 398.00 11-20 2,954.00 11-10 2480 1,330.00 11-30 2488 800.00 11-24 2,567.30 11-15 2481 695.40 Total $14,464.85 11-27 1,650.00 11-18 2482 612.00 11-29 1,186.00 11-30 1,584.00 Total 16,190.70 The bank statement contained two bank memoranda: 1. Acredit of $2,432.00 for the collection from a customer for Sunland Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $89.25. The bank statement contained two bank memoranda: 1. Acredit of $2,432.00 for the collection from a customer for Sunland Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $89.25. At November 30, the cash balance per books was $11,756.60 and the cash balance per bank statement was $18,297.80. The bank did not make any errors, but Sunland Company made two errors. (a) Your answer is correct Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2022. (List items that increase balance as per bank and books first. Round answers to 2 decimal places, eg. 5,275.50.) SUNLAND COMPANY Bank Reconciliation November 30, 2022 Cash balance per bank statement 18297.80 Add Deposits in transit 1584.00 19881.80 -U Cash balance per bank statement 18297.80 Add Deposits in transit 1584.00 19881.80 Less : Outstanding checks No. 2451 1260.40 No. 2472 427.80 No. 2478 538.20 No. 2482 612.00 i No. 2484 825.25 MI No. 2485 974.80 i No. 2487 398.00 No. 2488 800.00 5836.45 - No. 2488 800.00 5836.45 Adjusted cash balance per bank $ 14045.35 Cash balance per books 11756.60 Add : Electronic funds transfer received 2432.00 14188.60 Less : Error in deposit $ 9.00 Error in recording check 45.00 i Check printing charge 89.25 143.25 Adjusted cash balance per books $ 14045.35 e Textbook and Media 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)
