The bank portion of the bank reconciliation for Crane Company at October 31, 201
ID: 2591199 • Letter: T
Question
The bank portion of the bank reconciliation for Crane Company at October 31, 2017, is shown below.
CRANE COMPANY
Bank Reconciliation
October 31, 2017
$12,477.90
1,530.20
14,008.10
Check Number
Check Amount
$ 1,260.40
684.20
844.50
433.40
1,050.00
4,272.50
$9,735.60
The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following checks and deposits.
Bank Statement
Checks
Deposits
Date
Number
Amount
Date
Amount
1,186.00
16,127.90
940.00
$12,930.30
The cash records per books for November showed the following.
Cash Payments Journal
Cash Receipts Journal
Date
Number
Amount
Date
Number
Amount
Date
Amount
800.00
$14,461.50
1,414.00
$16,020.70
The bank statement contained two bank memoranda:
At November 30, the cash balance per books was $11,294.80 and the cash balance per bank statement was $17,930.90. The bank did not make any errors, but Crane Company made two errors.
Using the steps in the reconciliation procedure, prepare a bank reconciliation at November 30, 2017.
(How would this bank Reconcilation look??) Thanks
CRANE COMPANY
Bank Reconciliation
October 31, 2017
$12,477.90
Add: Deposits in transit1,530.20
14,008.10
Less: Outstanding checksCheck Number
Check Amount
2451$ 1,260.40
2470684.20
2471844.50
2472433.40
24741,050.00
4,272.50
Adjusted cash balance per bank$9,735.60
Explanation / Answer
Bank reconcilation unadjusted Bank balance 17,930.90 Add: Deposits in transit 1,414 19,344.90 less: Checks outstanding chq no 2451 1,260.40 2472 433.4 2478 538.2 2482 612 2484 822.9 2485 974.8 2487 398 2488 800 5,839.70 Adjusted bank balance 13,505.20 unadjusted balance as per cash books 11,294.80 Add: Electronic funds transfer 2,347 13,641.80 less: printing charges 91.6 error in recording chq 2479(1740-1704) 36 error in recording recepit (2954-2945) 9 136.6 Adjusted cash balance 13,505.20
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