The Oct 31 bank statement for Malone Ltd had an ending balance of $4,250.12. The cash account

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Question:

The Oct 31 bank statement for Malone Ltd had an ending balance of $4,250.12. The cash account according to the company’s records was $3,433.52 as at the same date. The following additional data was available

1. The company had made a deposit in the night box of $1,200.00 on Oct 31 after the branch was closed.

2. There were outstanding cheques totalling $2,718.60 as at Oct 31.

3. The bank service fee was $40.00 for the month.

4. A cheque in the amount of $650.00 deposited by Malone on May 21 had been returned NSF and the bank charged a $12.00 fee on the item. Malone had not known about the returned item until it received the bank statement.