Question
The following is information for Dundee Realty: a. Balance per the bank statement dated October 31, 2020, is $26,946. b. Balance of the Cash account
The following is information for Dundee Realty: a. Balance per the bank statement dated October 31, 2020, is $26,946. b. Balance of the Cash account on the company books as of October 31, 2020, is $5,580. c. $14,690 of customer deposits were outstanding as of September 30; this amount had been deposited to Dundee's account in October. d. Cheques written in October that had not cleared the bank as of October 31 were: #8700, $986 #8709, $12,610 #8801, $630 #8815, $146. e. The bank charged Dundee's account for a $2,355 cheque of the E-Zone Networks; the cheque was found among the cancelled cheques returned with the bank statement. 1. Bank service charges for October amount to $66. g. A customer's cheque (Teresa Krant) for $7,060 had been deposited in the bank correctly but was recorded in the accounting records as $7,600. h. Among the cancelled cheques is one for $270 given in payment of an account payable to Decker Company; the bookkeeper had recorded the cheque incorrectly at $720 in the company records. 1. The bank statement showed an electronic fund transfer of $22,990 for a customer payment. A bank service fee of $55 was charged. J. A bank deposit of October 31 for $13,430 does not appear on the bank statement. Required: 1. Prepare a bank reconciliation statement as of October 31, 2020. Required: 1. Prepare a bank reconciliation statement as of October 31, 2020. Bank Statement Bank statement balance Add: Deduct: Outstanding cheques $ DUNDEE REALTY Bank Reconcillation. October 31, 2020 Book balance Add:1 Deduct Adjusted bank balance Adjusted book balance Company's Books S 2. Prepare the necessary entries to make the Cash account agree with the bank reconciliation adjusted Cash balance as of Octobe 31. View transaction list Journal entry worksheet
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