Pb$7\mathrm{.}1$B

Problem Set B

PROBLEM $21$B Bank Reconciliation $(6)$ LO$7-1.\sqrt[4]{4}$ LO$7-3$

The cash transactions and cash balances of Dodge, Inc, for November were as follown.

Dodee, Inc.$\text{'}$s account for Cash showed a balance at November $30$ of $$6,750.$

The Nevember bank atatement showed a closing balance of $$4,710.$

The cash rectived on November $30$ amounted to $$3,350.$ It was left at the bank is the night deponitory chute after banking bours on Niovember $30$ and therefore was not recoeded by the bank on the Nevember statement.

Also incloded with the November bank statement was a debit memoeandum from the bank for $$15$ representing service charges for November.

A credit memorandam enclosed with the November bank statement indicated that a noninterestbearing note receivable for $$4,000$ from Wright Sistern, Ich with the bank for colloction, bad been collocted and the proceeds credited to the account of Dodge, Inc.

Comparison of the paid chocks retarned by the bank with the entrits in the accousting records revealed that check no$.$ $$10$ for $$430,$ inned November $15$ is peyment for eemputer equipment, had been erreseensly entered in Dodge't reeerds as $$340.$

Examinatioe of the paid checks alse revealed that three checks, all inued in November, had not yet been paid by the bank: no$.814$ for $$115$; en$.$ $$16$ for $$170,$ and no$.$ $$30$ for $$530.$

Iecladed with the Nevember bank statement was a $$2\mathrm{.}900$ check drews by Steve Dial, a customer of Dodge, Inc. This check was marked NSF$.$ It had bets included in the deposit of November $27$ bat had been charged back apainat the compang's account en November $10.$

Instructions

a$.$ Prepare a bank reconciliation for Dodyt, Inc., at Nevember $30.$

b$.$ Prepare journal entrits $($in stereal joarnal form$)$ to affast the accoasts at November $30.$ Aswame that the accounts have not bete cloved.

c$.$ State the amsount of carlh that abould be incladed in the statement of financial poaition at November $30.$