The bank portion of the bank reconciliation for Rintala Company at November 30,
ID: 2450492 • Letter: T
Question
The bank portion of the bank reconciliation for Rintala Company at November 30, 2014, was as follows.
Rintala Company
Bank Reconciliation
November 30, 2014
$14,534.06
2,530.20
17,064.26
Check Number
Check Amount
$ 2,260.40
720.10
844.50
1,426.80
1,054.00
6,305.80
$10,758.46
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.
Bank Statement
Checks
Deposits
Date
Number
Amount
Date
Amount
1,025.00
18,152.90
540.80
$15,438.70
The cash records per books for December showed the following.
Cash Payments Journal
Cash Receipts Journal
Date
Number
Amount
Date
Number
Amount
Date
Amount
450.80
1,889.50
$14,929.20
1,190.40
$16,822.10
The bank statement contained two memoranda:
At December 31, the cash balance per books was $12,651.36, and the cash balance per the bank statement was $20,457.49. The bank did not make any errors, but two errors were made by Rintala Company.
(a) Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Reconcile the bank balance first and then the book balance.)
RINTALA COMPANY
Bank Reconciliation
December 31, 2014
(b) Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date.
Account Titles and Explanation
Debit
Credit
(To record collection of note receivable by bank)
(To record NSF Check)
(To correct error in recording check)
(To correct error in deposit)
Open Show Work
Rintala Company
Bank Reconciliation
November 30, 2014
$14,534.06
Add: Deposits in transit2,530.20
Less: Outstanding checks17,064.26
Check Number
Check Amount
3451$ 2,260.40
3470720.10
3471844.50
34721,426.80
34741,054.00
6,305.80
Adjusted cash balance per bank$10,758.46
Explanation / Answer
The bank portion of the bank reconciliation for Rintala Company at November 30,
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.