The bank portion of the bank reconciliation for Langer Company at November 30, 2
ID: 2539981 • Letter: T
Question
The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows.
LANGER COMPANY
Bank Reconciliation
November 30, 2017
$14,657.90
2,530.20
17,188.10
Check Number
Check Amount
$ 2,260.40
720.10
844.50
1,426.80
1,057.90
6,309.70
$10,878.40
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
889.50
$13,925.30
1,690.40
$17,322.10
The bank statement contained two memoranda:
At December 31, the cash balance per books was $14,275.20, and the cash balance per the bank statement was $22,086.40. The bank did not make any errors, but two errors were made by Langer Company.
A: Prepare the adjusting entries based on reconciliation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75. For error in check and deposit use accounts payable and accounts receivable.)
LANGER COMPANY
Bank Reconciliation
November 30, 2017
$14,657.90
Add: Deposits in transit2,530.20
17,188.10
Less: Outstanding checksCheck Number
Check Amount
3451$ 2,260.40
3470720.10
3471844.50
34721,426.80
34741,057.90
6,309.70
Adjusted cash balance per bank$10,878.40
Explanation / Answer
Langer company Ccash balance per bank statement 22,086.40 Add Deposits in transit 1,690.40 23,776.80 less: outstanding checks no 3,470 720.1 no 3474 1,057.90 no 3478 621.3 no 3481 807.4 no 3484 790.1 no 3486 889.5 4,886.30 Adjusted cash balance per bank 18,890.50 Cash balance per books 14,275.20 Add: Note collected in bank 5,295 19,570.20 less NSF Check 580.7 Error in recording check 90 Error in deposit 9 679.7 Adjusted cash balance per books 18,890.50 Journal entries no Account titles and explanations Debit Credit 1) Cash 5,295 Miscellaneous expense 15 Note receivable 5,150 interest revenue 160 2) Accounts receivabke 580.7 cash 580.7 3) Accounts payable 90 cash 90 4) Accounts receivable 9 cash 9
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