The bank statement contained two memoranda:

1.		A credit of $5,265 for the collection of a $5,120 note for Langer Company plus interest of $160.00 and less a collection fee of $15.00. Langer Company has not accrued any interest on the note.
2.		A debit of $575.30 for an NSF check written by L. Rees, a customer. At December 31, the check had not been redeposited in the bank.

At December 31, the cash balance per books was $14,295.20, and the cash balance per the bank statement was $22,081.80. The bank did not make any errors, but two errors were made by Langer Company.

Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31

 

Transcribed Image Text:

The bark portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows. LANGER COMPANY Bank Reconciliation November 30, 2017 Cash balance per bank $14,807.90 Add: Deposits in transit 2,530.20 17,338.10 Less: Outstanding checks Check Check Number Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,057.30 6,309.10 Adjusted cash balance per $11,029.00 bank 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. The bark portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows. LANGER COMPANY Bank Reconciliation November 30, 2017 Cash balance per bank $14,807.90 Add: Deposits in transit 2,530.20 17,338.10 Less: Outstanding checks Check Check Number Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,057.30 6,309.10 Adjusted cash balance per $11,029.00 bank 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.

Answer rating: 100% (QA)

SOLUTION ANSWER 1 LANGER COMPANY BANK RECONCILIATION DEC 31 2017 CASH BALANCE AS PER BANK STATEMENT ... View the full answer