Question

Information related to Banzai Books Ltd. is as follows: balance per books at October 31, $41,847.85; November receipts, $173,528.91; November disbursements, $166,193.54; balance per bank statement at November 30, $56,270.20. The following cheques were outstanding at November 30:
Included with the November bank statement and not recorded by the company were a bank debit memo for $31.40 covering bank charges for the month, a debit memo for $572.13 for a customer's cheque returned and marked NSF, and a credit memo for $1,400 representing bond interest collected by the bank in the name of Banzai Books Ltd. Cash on hand at November 30 that had been recorded and was not yet deposited amounted to $1,920.40.
Instructions
(a) Prepare a bank reconciliation proceeding to the correct balance at November 30 for Banzai Books Ltd.
(b) Prepare any journal entries that are needed to adjust the Cash account at November 30.


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  • CreatedSeptember 18, 2015
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