Problerms: Set A 38 ini. P7-4A The bank portion of the bank reconciliation for L

Question

Problerms: Set A 38 ini. P7-4A The bank portion of the bank reconciliation for LaRoche Company at 2014, is shown below ctober 31. Prpare a bank reconeieri and adjusting entries from detailed daa LAROCHE COMPANY Bank Reconciliation October 31, 2014 00 5), AP Cash balance per bank Add: Deposits in transit $12,367.90 1,530.20 Less: Outstanding checks 13,898.10 Check Number 2451 2470 2471 2472 2474 Check Amount $1.260.40 684.20 844.50 426.80 1,050.00 4,265.90 9,632.20 Adjusted cash balance per bank The adjusted cash balance per bank agreed with the cash balance per books at Octo The November bank statement showed the following checks and deposits. ber 31 Bank Statement Checks Number Deposits Date S 684.20 1 2470 2471 2474 2475 2476 11-10 2477 11-15 2479 11-18 2480 11-27 2481 11-30 2483 11-292486 Total 11 1,530.20 844.50 1,050.00 11-8 1,640.70 11-13 2,830.00 11-18 600.00 11-21 1,750.00 11-25 1,330.00 11-28 1,211.60 990.10 2,575.00 1472.70 2,945.00 2,567.30 1,650.00 695.40 11-30 1.186.00 575.50 Total $16,127.90 11-8 940.00 $12,940.30 The cash records per books for November showed the following. Cash Receipts Cash Payments Journal Date Number Amount Date Number Amount Date Amount 11-1 2475 $1.640.70 11-20 2483 $ 575.50||11-3 Si1.60 Dale Number Amount Date Nunber Amount 829.50 11.7 990.10 11-2 2476 2,830.00 11-22 2484 11-2 2477 11-4 2478 11-8 2479 1,705.00 11-292487 11-10 2480 1,330.00 11-30 2488 11-15 2481 695.40 Total 11-18 2482 600.00 11-23 2485 974.80 11-12 2,575.00 538.20 11-24 2486 940.00 11-171,472.70 398.00 11-20 2,954.00 800.00 11-24 2,567.30 14,469.1011-27 1,650.00 11-29 1,186.00 11-301,304.00 612.00 Total $15,910.70

Explanation / Answer

La Roche Company Bank Recocciliation as on 30.11.14 Details Amt $ Balance on 30.11 as per bank            17,712.50 Add : Deposits in Transit 11-30.               1,304.00 Less: Outstanding Checks                                                                                 2,451               1,260.40                                                                                 2,472                  426.80                                                                                 2,478                  538.20                                                                                 2,482                  612.00                                                                                 2,484                  829.50                                                                                 2,485                  974.80                                                                                 2,487                  398.00                                                                                 2,488                  800.00 Total check outstanding               5,839.70 Less : Customer credit including interest               2,257.00 Add : Collection fees charged by bank                     15.00 Add : Debit for check stationery by bank                     85.00 Add: Entry Mistake inGL 11-20                       9.00 Add : Check 2479-mistake in GL                           45 Cash Balance as per GL on 11.30.2014.            11,073.80 Journal entry in Cash GL Account Details Dr $ Cr $ Accounts Receivable                   2,100 Interest Income                      157 Cash                     2,257 (customer collection with interest) Cash                         15 Bank Charges                           15 (recording collection fee) Cash                         85 Bank Charges                           85 (check stationery debit) Accounts Receivable                             9 Cash                           9 (rectifying wrong check receipt on 11.20.) Accounts Payable                           45 Cash                         45

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