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Posted on Aug 25, 2024

The following bank statement was received. Prepare a bank reconciliation for October: Bank Statement To: Barton Corporation October 31, 2015 Cheques/Charges/Debits Deposits/Credits Balance 923,545.50 #2927

The following bank statement was received. Prepare a bank reconciliation for October: image text in transcribed

image text in transcribed

Bank Statement To: Barton Corporation October 31, 2015 Cheques/Charges/Debits Deposits/Credits Balance 923,545.50 #2927 01/Oct 5,400 918,145.50 #2928 03/Oct 471,500 03/Oct 30,850 477,495.50 NSF Cheque 06/Oct 22,404 455,091.50 10/Oct 3,891,580 4,346,671.50 #2929 15/Oct 50,000 15/Oct 3,649 4,300,320.50 #2930 18/Oct 8,400 4,291,920.50 #2931 18/Oct 556,500 3,735,420.50 20/Oct 35,750 3,771,170.50 22/Oct 1,740,970 5,512,140.50 #2933 26/Oct 5,000 5,507,140.50 #2934 26/Oct 788,900 4,718,240.50 Service Charge 31/Oct 900 4,717,340.50 Additional Information: The NSF cheque was received in September from ABC Inc. for a sale dated September 15. Barton Corporation Bank Reconciliation October 31, 2015 Book balance Add: + - 5,579,417.50 Bank statement balance Add: + - Deduct: + - Deduct: + - Outstanding cheques: + = Adjusted bank balance Adjusted book balance Barton Corporation Unadjusted Trial Balance October 31, 2015 Debit Credit Cash 1,165,222.50 Accounts receivable 961,400 Allowance for doubtful accounts 133,308 Notes receivable. 78,326 Merchandise inventory. 1,826,300 Prepaid insurance 35,000 Office furniture 8,400 Accounts payable 320,000 Common shares 73,250 Retained earnings 2,050,930 Cash dividends declared. 23,000 Interest earned 237.50 Sales 3,135,000 Sales discounts 43,472 Cost of goods sold. 1,199, 100 Office salaries expense 22,000 Sales salaries expense 78,000 Rent expense, office space. 3,240 Rent expense, selling space 2,160 Loss on sale of property, plant and equipment assets 489 Totals 5,579,417.50 5,579,417.50 General Journal Page Gj1 General Journal Page GJ2 Date Account/Explanation F Debit Credit Date Account/Explanation F Debit Credit 1/OctRent expense, selling space 2,160 18/Oct Accounts Payable, Ludwig Inc. AP 556,500 Rent expense, office space. 3,240 Cash 556,500 Cash 5,4001 Paid invoice for merchandise Paid cash for rent 20/Oct Cash 35,750 1/Oct Accounts Receivable, Northstar Corp AR 397,1001 Common Shares 35,750 Cost Of Goods Sold 152,000 Issued shares Sales 397,100 22/Oct Cash 1,740,970 Merchandise Inventory MI 152,000 Sales Discounts 35,530 Sold merchandise on credit Accounts Receivable, Northstar Corp.AR 1,776,500 3/Oct Cash 30,850 Received customer payment Loss on Sale of Property, Plant and Equipment Assets 489 122/Oct Merchandise Inventory.. MI 805,000 Accumulated Depreciation, Store Equipment 43,611 Accounts Payable, Weber Inc. AP 805,000 Store Equipment PPE 74,950 Purchased merchandise on credit Sold all store equipment for cash ||24/OctAllowance for Doubtful Accounts 144,900 3/Oct Accounts Payable, Weber Inc. AP 471,500 Accounts Receivable, Bentley Inc. AR 144,900 Cash 471,500 Wrote off uncollectible account Issued cheque for purchase 24/Oct Cash Dividends Declared 23,000 9/Oct Office Furniture PPE 10,500 Cash 23,000 Accounts Payable, United Corporation AP 10,500 Declared and paid dividends Purchased furniture on credit 24/Oct Merchandise Inventory MI 320,000 9/Oct Merchandise Inventory. MI 556,500 Accounts Payable, XYZ Corporation. AP 320,000 Accounts Payable, Ludwig Inc. 556,500 Purchased merchandise inventory on Purchased merchandise credit 10/Oct Cash 389,158 25/Oct Accounts Receivable, Dylex Corporation... AR 961,400 Sales Discounts 7,942 Cost Of Goods Sold.. 368,460 Accounts Receivable, Northstar Corp AR 397,100 Sales 961,400 Received customer payment Merchandise Inventory MI 368,460 11/Oct Accounts Payable, United Corporation AP 2.100 Sold merchandise on credit Office Furniture PPE 2,100|| 26/Oct Utilities Payable 5,000 Received a credit memorandum Cash 5,000 13/Oct Accounts Receivable, Northstar Corp AR 1,776,500 Paid utility bill Cost Of Goods Sold 678,640 26/Oct Accounts Payable, Weber Inc. AP 805,000 Sales 1,776,500 Cash 788,900 Merchandise Inventory MI 678,640 Merchandise Inventory MI 16,100 Sold merchandise on credit Paid invoice for merchandise 15/Oct Cash 3,649 ||31/Oct Sales Salaries Expense 39.000 Interest Receivable 237.50 Office Salaries Expense 11,000 Interest Earned 237.50 Cash 50,000 Notes Receivable 3,174 Paid cash for salaries Collection of interest 15/Oct Sales Salaries Expense 39,000 Office Salaries Expense 11,000 Cash 50,000 Paid cash for salaries 18/Oct Accounts Payable, United Corporation AP 8,400 Cash Paid invoice for office furniture 8,400 Bank Statement To: Barton Corporation October 31, 2015 Cheques/Charges/Debits Deposits/Credits Balance 923,545.50 #2927 01/Oct 5,400 918,145.50 #2928 03/Oct 471,500 03/Oct 30,850 477,495.50 NSF Cheque 06/Oct 22,404 455,091.50 10/Oct 3,891,580 4,346,671.50 #2929 15/Oct 50,000 15/Oct 3,649 4,300,320.50 #2930 18/Oct 8,400 4,291,920.50 #2931 18/Oct 556,500 3,735,420.50 20/Oct 35,750 3,771,170.50 22/Oct 1,740,970 5,512,140.50 #2933 26/Oct 5,000 5,507,140.50 #2934 26/Oct 788,900 4,718,240.50 Service Charge 31/Oct 900 4,717,340.50 Additional Information: The NSF cheque was received in September from ABC Inc. for a sale dated September 15. Barton Corporation Bank Reconciliation October 31, 2015 Book balance Add: + - 5,579,417.50 Bank statement balance Add: + - Deduct: + - Deduct: + - Outstanding cheques: + = Adjusted bank balance Adjusted book balance Barton Corporation Unadjusted Trial Balance October 31, 2015 Debit Credit Cash 1,165,222.50 Accounts receivable 961,400 Allowance for doubtful accounts 133,308 Notes receivable. 78,326 Merchandise inventory. 1,826,300 Prepaid insurance 35,000 Office furniture 8,400 Accounts payable 320,000 Common shares 73,250 Retained earnings 2,050,930 Cash dividends declared. 23,000 Interest earned 237.50 Sales 3,135,000 Sales discounts 43,472 Cost of goods sold. 1,199, 100 Office salaries expense 22,000 Sales salaries expense 78,000 Rent expense, office space. 3,240 Rent expense, selling space 2,160 Loss on sale of property, plant and equipment assets 489 Totals 5,579,417.50 5,579,417.50 General Journal Page Gj1 General Journal Page GJ2 Date Account/Explanation F Debit Credit Date Account/Explanation F Debit Credit 1/OctRent expense, selling space 2,160 18/Oct Accounts Payable, Ludwig Inc. AP 556,500 Rent expense, office space. 3,240 Cash 556,500 Cash 5,4001 Paid invoice for merchandise Paid cash for rent 20/Oct Cash 35,750 1/Oct Accounts Receivable, Northstar Corp AR 397,1001 Common Shares 35,750 Cost Of Goods Sold 152,000 Issued shares Sales 397,100 22/Oct Cash 1,740,970 Merchandise Inventory MI 152,000 Sales Discounts 35,530 Sold merchandise on credit Accounts Receivable, Northstar Corp.AR 1,776,500 3/Oct Cash 30,850 Received customer payment Loss on Sale of Property, Plant and Equipment Assets 489 122/Oct Merchandise Inventory.. MI 805,000 Accumulated Depreciation, Store Equipment 43,611 Accounts Payable, Weber Inc. AP 805,000 Store Equipment PPE 74,950 Purchased merchandise on credit Sold all store equipment for cash ||24/OctAllowance for Doubtful Accounts 144,900 3/Oct Accounts Payable, Weber Inc. AP 471,500 Accounts Receivable, Bentley Inc. AR 144,900 Cash 471,500 Wrote off uncollectible account Issued cheque for purchase 24/Oct Cash Dividends Declared 23,000 9/Oct Office Furniture PPE 10,500 Cash 23,000 Accounts Payable, United Corporation AP 10,500 Declared and paid dividends Purchased furniture on credit 24/Oct Merchandise Inventory MI 320,000 9/Oct Merchandise Inventory. MI 556,500 Accounts Payable, XYZ Corporation. AP 320,000 Accounts Payable, Ludwig Inc. 556,500 Purchased merchandise inventory on Purchased merchandise credit 10/Oct Cash 389,158 25/Oct Accounts Receivable, Dylex Corporation... AR 961,400 Sales Discounts 7,942 Cost Of Goods Sold.. 368,460 Accounts Receivable, Northstar Corp AR 397,100 Sales 961,400 Received customer payment Merchandise Inventory MI 368,460 11/Oct Accounts Payable, United Corporation AP 2.100 Sold merchandise on credit Office Furniture PPE 2,100|| 26/Oct Utilities Payable 5,000 Received a credit memorandum Cash 5,000 13/Oct Accounts Receivable, Northstar Corp AR 1,776,500 Paid utility bill Cost Of Goods Sold 678,640 26/Oct Accounts Payable, Weber Inc. AP 805,000 Sales 1,776,500 Cash 788,900 Merchandise Inventory MI 678,640 Merchandise Inventory MI 16,100 Sold merchandise on credit Paid invoice for merchandise 15/Oct Cash 3,649 ||31/Oct Sales Salaries Expense 39.000 Interest Receivable 237.50 Office Salaries Expense 11,000 Interest Earned 237.50 Cash 50,000 Notes Receivable 3,174 Paid cash for salaries Collection of interest 15/Oct Sales Salaries Expense 39,000 Office Salaries Expense 11,000 Cash 50,000 Paid cash for salaries 18/Oct Accounts Payable, United Corporation AP 8,400 Cash Paid invoice for office furniture 8,400