Question
The cash balance per books for Feagen Company on September 30, 2015 is $10,740.93. The following checks and receipts were recorded for the month of
The cash balance per books for Feagen Company on September 30, 2015 is $10,740.93. The following checks and receipts were recorded for the month of October, 2015:
Checks | Receipts | ||||||||||
No. | Amount | No. | Amount | Amount | Date | ||||||
17 | $372.96 | 22 | $578.84 | $843.86 | 10/5 | ||||||
18 | $780.62 | 23 | $1,687.50 | $941.54 | 10/21 | ||||||
19 | $157.00 | 24 | $921.30 | $880.58 | 10/27 | ||||||
20 | $587.50 | 25 | $246.03 | $967.00 | 10/30 | ||||||
21 | $234.15 |
In addition, the bank statement for the month of October is presented below:
Balance | Deposits and Credits | Checks and Debits | Balance | |||||||||||||||||||||||
Last Statement | No. | Total Amount | No. | Total Amount | This Statements | |||||||||||||||||||||
$5,404.84 | 5 | $9,178.36 | 10 | $3,632.19 | $10,951.01 | |||||||||||||||||||||
Checks and other debits | Deposits | Date | Balance | |||||||||||||||||||||||
No | Amount | No | Amount | No | Amount | |||||||||||||||||||||
14 | 148.29 | 17 | 372.96 | 22 | 578.84 | 5,484.38 | 10/1 | $9,875.31 | ||||||||||||||||||
18 | 708.62 | 24 | 921.30 | 843.86 | 10/8 | $9,219.03 | ||||||||||||||||||||
19 | 157.00 | 25 | 246.03 | 941.54 | 10/23 | $9,541.58 | ||||||||||||||||||||
21 | 234.15 | 25.00 | SC | 808.58 | 10/29 | $10,101.01 | ||||||||||||||||||||
240.00 | NSF | 1,100.00 | CM | 10/31 | $10,951.01 | |||||||||||||||||||||
Symbols: NSF (Not sufficient funds) SC (Service charge) CM (Credit Memo) |
Check No. 18 was correctly written for $708.62 for a payment on account. The NSF check was from S. Long, a customer, in settlement of an accounts receivable. An entry had not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $60 which has not been accrued. The bank service charge is $25.00.
Prepare a bank reconciliation at October 31. (List items that increase cash balance first. Enter answers to 2 decimal places, e.g. 25.20.) FEAGEN COMPANY Bank Reconciliation October 31, 2015Step by Step Solution
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