Florence Company received a bank statement showing a balance of $13,550 on Novem

Question

Florence Company received a bank statement showing a balance of $13,550 on November 30, 2019. During the bank reconciliation process, Florence’s accountant noted the following bank errors:

A check for $265 issued by Florentine, Inc., was mistakenly charged to Florence Company’s account.

Check 2782 was written for $200 but was paid by the bank as $1,200.

Check 2920 for $85 was paid by the bank twice.

A deposit for $580 on November 22 was credited by the bank for $850.

Assuming outstanding checks total $2,450, prepare the adjusted bank balance section of the November 30, 2019, bank reconciliation.

Explanation / Answer

Balance per bank statement 13550 Add: Check wrongly deducted 265 Error in Check 2782 1000 Error in Check 2920 85 14900 Less: Error in recording deposit 270 Outstanding checks 2450 Adjusted bank balance November 30, 2019 12180

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