The bank portion of the bank reconciliation for Bogalusa Company at October 31, 2019, 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 $2,242 for the collection for Bogalusa Company of an electronic funds transfer.
2. A debit for the printing of additional company checks $85.
At November 30, the cash balance per books was $11,073.80 and the cash balance per bank statement was $17,712.50. The bank did not make any errors, but Bogalusa Company made two errors.
Instructions
(a) Using the steps in the reconciliation procedure described on pages 339-340, prepare a bank reconciliation at November 30, 2019.
(b) Prepare the adjusting entries based on the reconciliation.

Transcribed Image Text:

BOGALUSA COMPANY Bank Reconciliation October 31, 2019 Cash balance per bank Add: Deposits in transit $12,367.90 1,530.20 13,898.10 Less: Outstanding checks Check Amount Check Number 2451 2470 2471 2472 2474 $1,260.40 684.20 844.50 426.80 1,050.00 4,265.90 $ 9,632.20 Adjusted cash balance per bank Bank Statement Checks and Debits Deposits and Credits Date Date 11-1 11-2 11-5 11-4 11-8 11-10 11-15 11-18 11-27 11-28 11-30 11-29 Number 2470 2471 2474 2475 2476 2477 2479 2480 2481 Amount Amount $ 684.20 844.50 1,050.00 1,640.70 2,830.00 600.00 1,750.00 1,330.00 695.40 85.00 575.50 940.00 11-1 11-4 11-8 11-13 11-18 11-19 EFT 2,242.00 11-21 11-25 11-28 11-30 Total 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 $18,369.90 2483 2486 Total $13,025.30 Cash Payments Date Number Amount Date Number Amount 11-1 2475 $1,640.70 11-20 2483575.50 Cash Receipts Date 11-3 $1,211.60 11-7 11-12 2,575.00 Amount 2 11-2 11-2 11-42478 11-8 24762,830.00 11-22 2484 600.00 11-23 2485 538.20 11-24 2486 24791,705.00 11-29 2487 11-10 24801,330.00 11-30 2488 829.50 974.80 940.00 398.00 800.00 $14.469.10 990.10 2477 1 0 2 1,472.70 2,954.00 11-20 11-24 2,567.30 11-27 11-29 11-30 Total $15,910.70 11-15 2481 11-18 2482 695.40 Total 612.00 1,650.00 1,186.00 1,304.00