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The bank statement and cash activity information for the month of November for Stella Inc. is provided below. Washington Bank Statement Balance at 10/31/19: $48,351.65
The bank statement and cash activity information for the month of November for Stella Inc. is provided below. Washington Bank Statement Balance at 10/31/19: $48,351.65 Deposits Amount Date Amount Date Withdrawals Check Number 4002 4010 EFT 2-Nov 4-Nov 7-Nov 9-Nov 10-Nov 15-Nov 17-Nov 20-Nov 20-Nov 26-Nov 28-Nov 4018 4011 4019 4021 4023 4022 SC $303.50 $874.50 $24,500.00 $890.00 $206.40 $2,033.30 $456.60 $539.00 $720.00 $27.00 $645.00 1-Nov 2-Nov 6-Nov 10-Nov 11-Nov 15-Nov 17-Nov 22-Nov 23-Nov 29-Nov 30-Nov (Interest) $4,554.00 $5,025.00 $15,005.00 $625.60 $155.00 $934.40 $1,300.00 $122.20 $325.25 $1,000.00 $105.00 4024 29-Nov 30-Nov 30-Nov 4025 NSF MTG $400.00 $1,500.00 $8,500.00 Stella Inc. General Ledger Balance at 10/31/19: $55,621.25 Date Deposits Amount Amount Date 7-Nov 9-Nov 10-Nov 12-Nov 16-Nov 18-Nov 19-Nov 24-Nov 24-Nov 25-Nov Withdrawals Check Number EFT 4018 4019 4020 4022 4023 4024 4025 4026 4027 $24,500.00 $890.00 $2,033.30 $982.80 $720.00 $539.00 $645.00 $400.00 $890.80 $1,208.70 3-Nov 7-Nov 8-Nov 10-Nov 14-Nov 15-Nov 20-Nov 29-Nov 29-Nov 30-Nov $15,005.00 $625.60 $255.00 $934.40 $1,300.00 $122.20 $325.25 $100.00 $428.30 $692.00 Your analysis of the bank statement and company records revealed the following additional information: 1. Outstanding checks at 10/31/19 per Stella Inc. were: Check Number 4001 4002 4005 4007 Amount $123.90 $303.50 $158.40 $642.70 $874.50 $206.40 4010 4011 2. A monthly EFT deduction of $24,500.00 was made for an insurance payment. 3. Washington Bank deducted Stella Inc.'s monthly mortgage payment directly from Stella's bank account for an amount of $8,500.00, of which interest is $900.00. Required: 1. Determine the November 30th ending cash balance per the bank. 2. Determine the November 30th ending cash balance per the books. 3. Prepare the reconciliations from both the Stella's books and the bank statement to the correct cash balance at November 30th. Assume any errors were made by the company. 4. Prepare the adjusting journal entries necessary at November 30th, 2019, and explain any discrepancies found that do not require an adjusting entry
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