The bank portion of the bank reconciliation for Langer Company at November 30, 2

Question

The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows

The adjusted cash balance per bank agreed with the cash balance per books at November 30.

The December bank statement showed the following checks and deposits.

The cash records per books for December showed the following.

The bank statement contained two memoranda:

At December 31, the cash balance per books was $12,485.20, and the cash balance per the bank statement was $20,154.30. The bank did not make any errors, but two errors were made by Langer Company.

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(Answer in this format):

LANGER COMPANY
Bank Reconciliation
November 30, 2017 Cash balance per bank $14,367.90 Add: Deposits in transit 2,530.20 16,898.10 Less: Outstanding checks Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,050.00 6,301.80 Adjusted cash balance per bank $10,596.30

Explanation / Answer

Solution:

Langer Company Bank Reconciliation - August 31 Bank's Cash balance Company's cash balance Particulars Amount Particulars Amount Ending balance as per Bank Statements $20,154.30 Ending Balance as per cash books $12,485.20 Additions: Additions: Outstanding cash receipt $1,690.40 Notes Receivables $5,145.00 Deductions: Deductions: Outstanding Checks - Previous Months (Check No 3470 & 3474) $1,770.10 NSF Cheque $572.80 Outstanding Checks - Current Months (Check No 3478, 3481, 3484 & 3486) $3,116.20 Incorrect recording of cash receipt ($2,954 - $2,945) $9.00 Incorrect recording of check ($540.80 - $450.80) $90.00 Up to date cash balance as per bank $16,958.40 Up to date cash balance as per books $16,958.40

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