Balance November Novernber Balance 10/31 Recelpts Disbursements1130 $XXXX× XXXXX

Question

Balance November Novernber Balance 10/31 Recelpts Disbursements1130 $XXXX× XXXXX Per Bank Statement items to be eder: tems to ba asicted: Per Books A. For each ef the follawing idams indicate in whih calurs the recanciing itams would appr Cueston 1 is an example 8November service charge of 525 is included on bank state men. The bank colected a9 $1,0C0 note receivsble for the fim in November plus 540 interest. The firm has not yet recorded nis receipt An·NSF. check in the amount ors357 was returned with e November bank siatement. This check will be receposied in December. The firm has not yet made an entry for this*NSF. check. A 59,200 of checks written in October, which had not cleared the bank at October 31, cleared the bank in November October service charge of 523 s ircluced in book disbursements for Novembar A $6,100 daposit in transit is incluced in book rece pts for Novambar Tha bank, in arror, crecited the firm's ancount far $420 in Novamber for anothar firm's daposit. A check written in December for $870 was written in the check regster in errar in the amaunt af 780. This check cleared the bank in Naverrber far $870. Both the debit to Rent Expenise ard the credit ware averstated as a resuit af this error in the bcoks The initial 38,220 of checks written in November have not dleared the bank by November 30 Ocober service $4,700 depasit shoan an the Novemter bank statement was incuded in Cctober's book receipts. B. Prapare the antries that should be recorded to make the books complere and accurate at Novamber 30

Explanation / Answer

Balance 10/31 November Receipts November Disbursements Balance 11/30 As per Bank Statement XXXXX XXXXX XXXXX XXXXX Items to be added October Service Charge                 23 Cheque not cleared till Oct 31           9,200 November Service Charge                             25 NSF Cheque returned                 357 Deposit in Transit              6,100 Ocober receipt cleared in Novemeber           4,700 Items to deducted Note receivable & Interest thereon not recorded                                                  (1,040) Error deposit entry               (420) Check issued not cleared by Nov end         (58,220) Check of rent issued (870-780)                          (90) As per books XXXXX XXXXX XXXXX XXXXX B Rectification entry in the book Notes receivable & Interest entry Date Account Title Debit Credit 30-Nov Bank                       1,040 Notes Receviable              1,000 Interest on Notes Receviable                    40 November Service Charge Date Account Title Debit Credit 30-Nov Bank Service Charge                             25 Bank                    25 Rent of December shown in novmber with wrong amount Date Account Title Debit Credit 30-Nov Prepaid Rent                          870 Bank                    90 Rent                 780

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