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The bank portion of the bank reconciliation for Rintala Company at November 30,

ID: 2450492 • Letter: T

Question

The bank portion of the bank reconciliation for Rintala Company at November 30, 2014, was as follows.

Rintala Company
Bank Reconciliation
November 30, 2014

$14,534.06

2,530.20

17,064.26

Check Number

Check Amount

$ 2,260.40

720.10

844.50

1,426.80

1,054.00

6,305.80

$10,758.46


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.

Bank Statement

Checks

Deposits

Date

Number

Amount

Date

Amount

1,025.00

18,152.90

540.80

$15,438.70


The cash records per books for December showed the following.

Cash Payments Journal

Cash Receipts Journal

Date

Number

Amount

Date

Number

Amount

Date

Amount

450.80

1,889.50

$14,929.20

1,190.40

$16,822.10


The bank statement contained two memoranda:


At December 31, the cash balance per books was $12,651.36, and the cash balance per the bank statement was $20,457.49. The bank did not make any errors, but two errors were made by Rintala Company.

(a) Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Reconcile the bank balance first and then the book balance.)

RINTALA COMPANY
Bank Reconciliation
December 31, 2014


(b) Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date.

Account Titles and Explanation

Debit

Credit

(To record collection of note receivable by bank)

(To record NSF Check)

(To correct error in recording check)

(To correct error in deposit)

Open Show Work

Rintala Company
Bank Reconciliation
November 30, 2014

Cash balance per bank

$14,534.06

Add: Deposits in transit

2,530.20

Less: Outstanding checks

17,064.26

Check Number

Check Amount

3451

$ 2,260.40

3470

720.10

3471

844.50

3472

1,426.80

3474

1,054.00

6,305.80

Adjusted cash balance per bank

$10,758.46

Explanation / Answer

The bank portion of the bank reconciliation for Rintala Company at November 30,

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