art 4: Bank Reconciliation (30 Points) The tollowing infomnon ceaiabe fer Willia

Question

art 4: Bank Reconciliation (30 Points) The tollowing infomnon ceaiabe fer Williams Corporation's bank statement shows a balance on Novece . Williams Corporation's cash account in its books showed an November 30 balanc f of $47,737.40. $41,189.60. c. Deposits in transit totaled $3,002.00 on November 30 d. Checks totaling $4,027.00 were outstanding at the end of November e. Included among the deposits was a $5,600 note plus $140.00 interest 140,00 interest that had been collected by the bank on behalf of Williams Corporation customer that was subsequentdly returned to Williams's bank and markedNo f. A debit memo was included with the bank statement bank was for a Chao Sufficient $195.00 from a Funds. & The bank statement included a charge apainst the account in the amount of services charges that were not yet recorded on the corporation's books Instructions: 1. Prepare a bank reconcilianion for November 30, 2017 Williams Corporation Bank Reconciliation as of November 30, 2017 Balance per bank Adjusted book balance Balance per books book balance the secessary jounal entry to adjust the cash account based on the bank 2. Account Titles and Explanatioas Date Debits Credits

Explanation / Answer

Balance per Bank 47737.4 Add: Deposit in transit 3002 50739.4 Less: Outstanding checks 4027 Adjusted book balance 46712.4 Balance per Books 41189.6 Add:Collection of note receivable 5740 46929.6 Less: NSF check 195 Bank service charges 22.2 Adjusted book balance 46712.4 2 Cash 5740       Note receivable 5600        Interest revenue 140 Accounts receivable 195          Cash 195 Bank service charges 22.2          Cash 22.2

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