The bank portion of the bank reconciliation for Cullumber Company at October 31, 2017, is shown below.

The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following checks and deposits.

The cash records per books for November showed the following.

The bank statement contained two bank memoranda:

1. A credit of $2,357.00 for the collection for Cullumber Company of an electronic funds transfer.

2. A debit for the printing of additional company checks $86.60.

At November 30, the cash balance per books was $11,755.80 and the cash balance per bank statement was $18,185.90. The bank did not make any errors, but Cullumber Company made two errors.

(a) Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2017. (List items that increase balance as per bank & books first.)

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CULLUMBER COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,260.40 684.20 844.50 428.40 1,050.00 $12,707.90 1,530.20 14,238.10 4,267.50 $9,970.60 Date 11-1 11-2 11-5 Checks Number 2470 2471 2474 11-4 2475 11-8 2476 11-10 2477 11-15 2479 11-18 2480 11-27 2481 Bank Statement 11-30 2483 11-29 2486 Amount $ 684.20 844.50 1,730.00 1,330.00 695.40 575.50 940.00 Total $12,920.30 1,050.00 1,640.70 2,830.00 600.00 Deposits Date 11-1 11-4 11-8 11-13 Amount $ 1,530.20 1,211.60 990.10 2,575.00 1,472.70 2,945.00 2,567.30 1,650.00 1,186.00 Total 16,127.90 11-18 11-21 11-25 11-28 11-30 Date Number 11-1 11-2 11-2 Cash Payments Journal Amount Date Number 2475 $1,640.70 11-20 2,830.00 11-22 2476 2477 600.00 11-23 11-4 2478 538.20 11-24 11-8 2479 1,703.00 11-29 11-10 2480 1,330.00 11-30 11-15 2481 11-18 2482 695.40 Total 612.00 2483 2484 2485 2486 2487 2488 Amount $ 575.50 827.90 974.80 940.00 398.00 800.00 $14,465.50 Cash Receipts Journal Amount Date $1,211.60 990.10 2,575.00 1,472.70 2,954.00 2,567.30 1,650.00 1,186.00 1,644.00 $16,250.70 11-3 11-7 11-12 11-17 11-20 11-24 11-27 11-29 11-30 Total CULLUMBER COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,260.40 684.20 844.50 428.40 1,050.00 $12,707.90 1,530.20 14,238.10 4,267.50 $9,970.60 Date 11-1 11-2 11-5 Checks Number 2470 2471 2474 11-4 2475 11-8 2476 11-10 2477 11-15 2479 11-18 2480 11-27 2481 Bank Statement 11-30 2483 11-29 2486 Amount $ 684.20 844.50 1,730.00 1,330.00 695.40 575.50 940.00 Total $12,920.30 1,050.00 1,640.70 2,830.00 600.00 Deposits Date 11-1 11-4 11-8 11-13 Amount $ 1,530.20 1,211.60 990.10 2,575.00 1,472.70 2,945.00 2,567.30 1,650.00 1,186.00 Total 16,127.90 11-18 11-21 11-25 11-28 11-30 Date Number 11-1 11-2 11-2 Cash Payments Journal Amount Date Number 2475 $1,640.70 11-20 2,830.00 11-22 2476 2477 600.00 11-23 11-4 2478 538.20 11-24 11-8 2479 1,703.00 11-29 11-10 2480 1,330.00 11-30 11-15 2481 11-18 2482 695.40 Total 612.00 2483 2484 2485 2486 2487 2488 Amount $ 575.50 827.90 974.80 940.00 398.00 800.00 $14,465.50 Cash Receipts Journal Amount Date $1,211.60 990.10 2,575.00 1,472.70 2,954.00 2,567.30 1,650.00 1,186.00 1,644.00 $16,250.70 11-3 11-7 11-12 11-17 11-20 11-24 11-27 11-29 11-30 Total

Answer rating: 100% (QA)

Cullumber Company Bank Reconciliation November 30 2017 Amount Cash Balance per bank ... View the full answer