View Policies Current Attempt in Progress On October 31 Kingbird Ltd. received its bank statement from Provincial Bank. It stated that Kingbird had a balance of $9,630 at October 31. The company's general ledger showed a cash balance of $10,095 at that date. A comparison of the bank statement and the accounting records revealed the following information: . . . Bank service charges for the month were $40. The company had written and mailed out cheques with a value of $1,570 that had not yet cleared the bank. Acheque from one of Kingbird's customers in the amount of $790 that had been deposited during the last week of October was returned with the bank statement as NSF. An electronic funds transfer payment (EFT) of $245 for monthly insurance expense was automatically deducted from Kingbird's bank account on October 22. Kingbird's bookkeeper had forgotten to record this transaction. During the month, the company's bookkeeper had recorded a cheque (#1872) paid for utilities as $585 rather than $855 (which was the amount written on the cheque and processed by the bank). The cash receipts for October 31 amounted to $690 and had been deposited in the night drop slot at the bank on the evening of October 31. These were not reflected on the bank statement for October . Prepare the bank reconciliation for Kingbird at October 31. Bank Reconciliation October 31 Prepare the bank reconciliation for Kingbird at October 31. Bank Reconciliation October 31 $ $ > |