The following information is available for the Avisa Company forthe month of November:
a. On November 30, after all transactions have been recorded,the balance in the company's Cash account has a balance of$27,202.
b. The company's bank statement shows a balance on November 30of $29,279.
c. Outstanding checks at November 30 include check #3030 in theamount of $1,525 and check #3556 in the amount of $1,459.
d. A credit memo included with the bank statement indicates thatthe bank collected $780 on a noninterest-bearing note receivablefor Avisa. The bank deducted a $10 collection fee, and credited theremainder of $770 to Avisa's account.
e. A debit memo included with the bank statement shows a $67 NSFcheck from a customer, J. Brown.
f. A deposit placed in the bank's night depository on November30 totaled $1,675, and did not appear on the bank statement.
g. Examination of the checks on the bank statement with theentries in the accounting records reveals that check #3445 for thepayment of an account payable was correctly written for $2,450, butwas recorded in the accounting records as $2,540.
h. Included with the bank statement was a debit memorandum inthe amount of $25 for bank service charges. It has not beenrecorded on the company's books.
Prepare a bank reconciliation and any adjusting entriesneeded.
The following information is available for the Avisa Company forthe month of November:
a. On November 30, after all transactions have been recorded,the balance in the company's Cash account has a balance of$27,202.
b. The company's bank statement shows a balance on November 30of $29,279.
c. Outstanding checks at November 30 include check #3030 in theamount of $1,525 and check #3556 in the amount of $1,459.
d. A credit memo included with the bank statement indicates thatthe bank collected $780 on a noninterest-bearing note receivablefor Avisa. The bank deducted a $10 collection fee, and credited theremainder of $770 to Avisa's account.
e. A debit memo included with the bank statement shows a $67 NSFcheck from a customer, J. Brown.
f. A deposit placed in the bank's night depository on November30 totaled $1,675, and did not appear on the bank statement.
g. Examination of the checks on the bank statement with theentries in the accounting records reveals that check #3445 for thepayment of an account payable was correctly written for $2,450, butwas recorded in the accounting records as $2,540.
h. Included with the bank statement was a debit memorandum inthe amount of $25 for bank service charges. It has not beenrecorded on the company's books.
Prepare a bank reconciliation and any adjusting entriesneeded.
Related questions
As of August 31, the bank statement shows a balance of $14,215. The August 31 unadjusted balance in the Cash account of Hallâs Cards is $10,099. A review of the bank statement revealed the following information: 1. A deposit of $1,180 on August 31, 2016, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $3,605 but was recorded on the books as $4,505. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,465 were found to be outstanding. 4. A debit memo for $69 was included in the bank statement for the purchase of a new supply of checks.
| Prepare a bank reconciliation at the end of August showing the true cash balance. | |
