The bank statement and cash activity information for the month of November for Stella Inc is provided below Your analysis of the bank statement and company records revealed the following additional information A Outstanding checks at 10 31 19 per Stella Inc were B A monthly EFT deduction of $24,500 00 was made for an insurance payment C Washington Bank deducted Stella Inc s monthly mortgage payment directly from Stellas bank account for an amount of $8,500 00, of which interest is $900 00 Required Determine the November 30th ending cash balance per the bank Determine the November 30th ending cash balance per the books Prepare the reconciliations from both the Stellas books and the bank statement to the correct cash balance at November 30th Assume any errors were made by the company Prepare the adjusting journal entries necessary at November 30th, 2019, and explain any discrepancies found that do not require an adjusting entry Washington Bank Statement Balance at 10 31 19 $48,351 65 Deposits Amount Date Amount Date 2 Nov 4 Nov 7 Nov 9 Nov 10 Nov 15 Nov 17 Nov 20 Nov 20 Nov 26 Nov 28 Nov Withdrawals Check Number 4002 4010 EFT 4018 4011 4019 4021 4023 $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 4022 SC 4024 29 Nov 30 Nov 4025 NSF MTG $400 00 $1,500 00 $8,500 00 30 Nov Stella Inc General Ledger Balance at 10 31 19 $55,621 25 Deposits Amount Date 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 Check Number 4001 4002 4005 4007 4010 Amount $123 90 $303 50 $158 40 $642 70 $874 50 $206 40 4011

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The bank statement and cash activity information for the month of November for Stella Inc. is provided below. Your analysis of the bank statement and

The bank statement and cash activity information for the month of November for Stella Inc. is provided below.

image text in transcribed

Your analysis of the bank statement and company records revealed the following additional information:

A. Outstanding checks at 10/31/19 per Stella Inc. were:

image text in transcribed

B. A monthly EFT deduction of $24,500.00 was made for an insurance payment.

C. Washington Bank deducted Stella Inc.s monthly mortgage payment directly from Stellas bank account for an amount of $8,500.00, of which interest is $900.00.

Required:

Determine the November 30th ending cash balance per the bank.
Determine the November 30th ending cash balance per the books.
Prepare the reconciliations from both the Stellas books and the bank statement to the correct cash balance at November 30th. Assume any errors were made by the company.
Prepare the adjusting journal entries necessary at November 30th, 2019, and explain any discrepancies found that do not require an adjusting entry.

Washington Bank Statement Balance at 10/31/19: $48,351.65 Deposits Amount Date Amount Date 2-Nov 4-Nov 7-Nov 9-Nov 10-Nov 15-Nov 17-Nov 20-Nov 20-Nov 26-Nov 28-Nov Withdrawals Check Number 4002 4010 EFT 4018 4011 4019 4021 4023 $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 4022 SC 4024 29-Nov 30-Nov 4025 NSF MTG $400.00 $1,500.00 $8,500.00 30-Nov Stella Inc. General Ledger Balance at 10/31/19: $55,621.25 Deposits Amount Date 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 Check Number 4001 4002 4005 4007 4010 Amount $123.90 $303.50 $158.40 $642.70 $874.50 $206.40 4011