The bank portion of the bank reconciliation for Helene Company at November 30, 2012, was as follows.

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The bank portion of the bank reconciliation for Helene Company at November 30, 2012, was as follows.

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The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits.

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The cash records per books for December showed the following.

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The bank statement contained two memoranda:1. A credit of $4,145 for the collection of a $4,000 note for Helene Company plus interest of $160 and less a collection fee of $15. Helene Company has not accrued any interest on the note.2. A debit of $572.80 for an NSF check written by L. Purl, a customer. At December 31, the check had not been redeposited in the bank.At December 31, the cash balance per books was $12,485.20, and the cash balance per the bank statement was $20,154.30. The bank did not make any errors, but two errors were made by Helene Company.Instructions(a) Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31.(b) Prepare the adjusting entries based on the reconciliation.

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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