The cash balance per books for Crane Company on November 30, 2022, is $10,640.90. The following checks
Question:
The cash balance per books for Crane Company on November 30, 2022, is $10,640.90. The following checks and receive CES Prepare a bank reconciliation at December 31.
Checks | Receipts | ||||||||||
No. | Amount | No. | Amount | Amount | Date | ||||||
17 | $377.70 | 22 | $591.97 | $856.99 | 12/5 | ||||||
18 | 580.75 | 23 | 1,700.63 | 954.67 | 12/21 | ||||||
19 | 170.00 | 24 | 934.43 | 821.71 | 12/27 | ||||||
20 | 600.63 | 25 | 259.16 | 1,380.00 | 12/31 | ||||||
21 | 247.28 |
In addition, the bank statement for the month of December is presented below:
Balance | Deposits and Credits | Checks and Debits | Balance | |||||||||||||||||||||||
Last Statement | No. | Total Amount | No. | Total Amount | This Statements | |||||||||||||||||||||
$5,417.97 | 5 | $9,591.49 | 10 | $3,645.32 | $11,364.14 | |||||||||||||||||||||
Checks and other debits | Deposits | Date | Balance | |||||||||||||||||||||||
No | Amount | No | Amount | No | Amount | |||||||||||||||||||||
14 | 161.42 | 17 | 377.70 | 22 | 591.97 | 5,497.51 | 12/1 | $9,888.26 | ||||||||||||||||||
18 | 508.75 | 24 | 934.43 | 856.99 | 12/8 | $9,232.16 | ||||||||||||||||||||
19 | 170.00 | 25 | 259.16 | 954.67 | 12/23 | $9,554.71 | ||||||||||||||||||||
21 | 247.28 | 28.00 | SC | 821.71 | 12/29 | $10,114.14 | ||||||||||||||||||||
263.00 | NSF | 1,630.00 | CM | 12/31 | $11,364.14 | |||||||||||||||||||||
Symbols: NSF (Not sufficient funds) SC (Service charge) CM (Credit Memo) |
Check No. 18 was incorrectly written for $580.75 for a payment on account. Check No. 14 was the only outstanding check at the end of November. There was also one deposit in transit at the end of November. The NSF check was from S. White, a customer, in the settlement of an account receivable. An entry has not been made for the NSF check. The credit memo is for the collection of a note receivable including interest of $73.00 that has not been accrued. The bank service charge is $28.00.
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers