books had ance per bank of $7,000. The company\'s Cash account on the statement.

Question

books had ance per bank of $7,000. The company's Cash account on the statement.p posyt in transit was $5,200 and this amount does not appear on the bank 2) The bank statement shows a charge for $40 for check printing charges. 3) The total amount of checks still outstanding at November 30 amounted to $5,800. V (4) CheckNo. 138 wascorrectly y ritten andpaid by the bankfeES 409 The cash ) payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $490. 4%-498 > (5) The bank returned an NSF check from a customer for $560. 40f (6) The bank included a addition for $1,260 which represents collection of a customer's note by the bank for the company; principal amount of the note was $1,20 and interest was $60 Interest has not been accrued. Instructions (a) Prepare a bank recopciliation for the-Hartman Boat Company at November 30. the Hartman Boat Company at Novembe

Explanation / Answer

Bank Reconciliation for Hartman Boat Company is as prepared below:

Hartman Boat Company Bank Reconciliation Nov-30 Particulars Amount ($) Amount ($) Cash balance according to bank statement 7,000.00 Add: Deposit of OJan 31, not recorded by bank 5,200 Less: Outstanding checks 5,800 Adjusted cash balance per bank 6,400 Cash balance according to company's records 5,659.00 Add: Proceeds of Note collected by bank, including $60 interest 1,260 Error in recording check (490-409) 81 Less: Check printing charges 40 NSF Check returned 560 Adjusted cash balance as per books 6,400

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