The bank portion of last month's bank reconciliation for Pharoah Limited at October 31 is shown here: PHAROAH LIMITED Bank Reconciliation October 31 Cash balance per bank Add: Deposits in transit $24,650 3,452 28,102 Less: Outstanding cheques #2472 #2473 #2474 Reconciled cash balance $1,520 1,620 1,054 4,194 $23,908 The reconciled cash balance per bank agreed with the reconciled cash balance per books after the bank reconciliation a 31. The November bank statement showed the following: PHAROAH LIMITED Bank Statement November 30 Amounts Deducted from Account (Debits) Amounts Added to Account (Credits) Description Date Oct. Nov. 31 1 1,520 Balanc 24,69 23,13 26,58 24.94 27.29 3,452 1 Cheque, No. 2472 Deposit 2473 1,620 Question 3 of 9. - / 30 31. The November bank statement showed the following: PHAROAH LIMITED Bank Statement November 30 Amounts Deducted from Account (Debits) Description Date Oct. Nov. Amounts Added to Account (Credits) 1.520 3.452 1.620 31 1 1 2 3 4 7 8 10 2.329 3.576 1,890 5.100 1.100 5.240 Cheque, No. 2472 Deposit Cheque, No 2473 Deposit Cheque, No 2475 Deposit Cheque, No. 2476 Cheque, No. 2477 Deposit Cheque, No 2478 EFT, salaries Deposit Returned cheque-NSF. Giasson Developments NSF fee Cheque, No. 2479 Deposit EFT collection of note receivable and interest Cheque, No. 2481 EFT. salaries Bank service charges 3.200 5.900 14 15 15 20 25 25 26 27 28 30 30 30 Balance 24,650 23.130 26,582 24962 27.291 23.715 25,605 20,505 19,405 24,645 21.445 15,545 21,435 21035 21.027 19,677 23,177 28.156 26,901 21,001 20,996 5,890 400 8 1,350 3.500 4,979 1.255 5.900 5 the following 30 Bank service charges 130 E 20996 The cash records per books for November showed the following Date Nov. Date Nov. Cash Receipts Amount 3 $2.329 7 1.890 12 5.240 20 5.908 27 3.500 30 856 $19.723 1 2 2 Amount $3.576 4,300 1.100 8 15 15 18 20 29 30 Cash Payments Number 2475 2476 2477 2478 2479 EFT, salaries 2480 2481 2482 EFT, salaries 3.200 1.350 5,900 1.277 1.255 1.810 5.900 $29,668 Additional information: 1 The EFT collection on November 28 was not previously recorded. The collection of the rate was for $4,000. plus 5979 interest. Interest was not previously accrued. 2 EFT payments are recorded when they occur. The bank did not make any errors. Two errors were made by the company: one in recording a cheque and one in recording a cash receipt. The correction of any errors in the recording of cheques should be made to Accounts Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable. 3. 4 AW
