Assignment CALCULATOR MESSAGE MY INS RCES Problem 7-4A (Part Level Submission) T

Question

Assignment CALCULATOR MESSAGE MY INS RCES Problem 7-4A (Part Level Submission) The bank portion of the bank reconciliation for Ivanhoe Company at October 31, 2017, is shown below. evel IVANHOE COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank Add: Deposits in transit $12,607.90 1,530.20 14,138.10 tudy Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount s 1,260.40 684.20 844.50 432.15 1,050.004.271.25 $9,866.85 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank B nk Statement Checks Deposits 10

Explanation / Answer

Adjusted closing balance in Bank Statement: Amount $ closing balance 31/10 18117.15 Add:Deposits in transit 1544 Less: Outstanding checks: Chect no. amount 2451 1260.4 2472 432.15 2478 538.2 2482 612 2484 824.15 2485 974.8 2487 398 2488 800    5839.7    Adjusted closing balance in Bank Statement: 13821.45 Adjusted closing balance in Cash Book: Amount $ closing balance 31/10 11553.8 Add: direct transfer to bank 2412 Less: bank charges -90.35 Less: under-debit for check 2479 (1750-1705) -45 Less: over-credit for deposits(2954-2945) -9    Adjusted closing balance in Cash Book: 13821.45

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