Information for crane company is as follows: balance per books at October 31, $41,256.60; November receipts, $173,528.91;
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Question:
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 crane company . 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 crane company.
(b) Prepare any journal entries that are needed to adjust the Cash account at November 30.
Related Book For
Accounting Texts and Cases
ISBN: 978-1259097126
13th edition
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
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