Gradebook ORION Downloadable eTextbook ractice e Assignment ignment Problem 7-4A

Question

Gradebook ORION Downloadable eTextbook ractice e Assignment ignment Problem 7-4A The bank portion of the bank reconciliation for Bogalusa Company at October 31, 2017, is shown below. BOGALUSA COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit $12,367.90 1,530.20 13,898.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $1,260.40 684.20 844.50 426.80 1,050.00 4,265.90 $9,632.20 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank Bank Statement Checks Deposits Date Number AmountDate Amount 11-1 2470$684.20 111 1,530.20 11-2 2471 844 5011-4 1711 60 All Rights Reserved. A Division of lohn Wiley & Sons. Ins here to search

Explanation / Answer

Adjusting entries:

BOGALUSA COMPANY Bank Reconciliation November 30, 2017 Cash balance per bank 17712.50 Add: Deposits in transit 1304.00 19016.50 Less: Outstanding checks 2451 1260.40 2472 426.80 2478 538.20 2482 612.00 2484 829.50 2485 974.80 2487 398.00 2488 800.00 5839.70 Adjusted cash balance per bank 13176.80 Cash balance per books 11073.80 Add: EFT collected 2242.00 13315.80 Less: Error in recording check 2479 45.00 Error in recording deposit of 11-20 9.00 Bank charges 85.00 139.00 Adjusted cash balance per books 13176.80

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