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Posted on Sep 01, 2024

The bark portion of the bank reconciliation for Blossom Company s October 31, 202. i stan below BLOSSOM COMPANY Bank Reconciliation October 31, 2022 Cashbalance

The bark portion of the bank reconciliation for Blossom Company s October 31, 202. i stan below BLOSSOM COMPANY Bank Reconciliation October 31, 2022 Cashbalance per bank $12.577.90 Add: Deposits in tramit 1530.20 1410510 Less: Outstanding checks Check Number Check Amount 2451 51.260.40 200 6420 2471 8445 2472 42780 2474 1050.00 266.90 Adjusted coch balance perbank $934120 The adjusted cash balance perbank agreed with the cash balance per bookst October 31 The November tankstomer showed the followinchecies and deposits Bank Statement Checks Deposits Date Number Amount Date Amount 11-1 2470 5684.20 11-1 5353020 11-2 2471 86450 114 121160 11-5 2474 1.050.00 110 9010 2.575.00 13640.70 11-13 2475 2476 253000 13-18 1/472.70 11-10 272 600.00 2.397.00 11-19 EFT 2479 11-15 150.00 11-21 2.45.00 11-25 11.13 2000 2623 2480 95.40 TODO 11:20 365 11.30 116.00 11-30 2 57550 To 185M 11-29 2436 9000 Tot 519402655 The cash records per books for November showed the following Cash Receipts Journal Number Amount Date Date Cash Payments Journal Amount Date Number $1.640.70 11-20 2,830.00 11-22 2484 Amount $1.211.60 11-1 2475 2483 $575.50 11-3 11-2 2476 990.10 828.25 11-7 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 1472.70 11-17 11-8 2479 1,705.00 11-29 2487 398.00 11-20 2.954.00 2480 11-10 1.330.00 11-30 2488 800.00 11-24 2.567.30 11-15 695.40 2481 Total 11-27 $14,46785 1.650.00 11-18 2482 612.00 11-29 1.186.00 11-30 1,514.00 Total 16.120.70 The bank statement contained two bank memoranda: 1 Acredit of $2.397.00 for the collection from a customer for Blossom Company of an electronic funds transfer. A debit for the printing of additional company checks 586.25 2. At November 30, the cash balance per books was $11,555.40 and the cash balance per bank statement was $18.137.60. The bank did not make any errors, but Blossom Company made two errors 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, eg. 5,275.50.) Debit Credit Date Account Titles and Explanation 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) The bank portion of the bank reconciliation for Blossom Company at October 31, 2022, is shown below. BLOSSOM COMPANY Bank Reconciliation October 31, 2022 Cash balance per bank $12,577.90 Add: Deposits in transit 1,530.20 14.108.10 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 $9.841.20 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 2.397.00 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 86.25 11-30 1.186.00 11-30 2483 575.50 Total 18,524.90 11-29 2486 940.00 Total $13,026.55 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 828.25 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 $14,467.85 11-27 1.650.00 11-18 2482 612.00 11-29 1,186.00 11-30 1.514.00 Total 16,120.70 The bank statement contained two bank memoranda: 1 Acredit of $2,397.00 for the collection from a customer for Blossom Company of an electronic funds transfer A debit for the printing of additional company checks $86.25. 2 At November 30, the cash balance per books was $11.555.40 and the cash balance per bank statement was $18.137.60. The bank did not make any errors, but Blossom Company made two errors. 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, eg. 5,275,50.) Debit Credit Date Account Titles and Explanation 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)