Problem 7-4A The bank portion of the bank reconciliation for Bogalusa Company at
ID: 2555508 • Letter: P
Question
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 Numbe 2451 2470 2471 2472 2474 Adjusted cash balancc per bank S 1,260,40 684.20 844.50 425.80 1.050.004.265.90 9,632.20 The adjusted cash balance per bank agreed with the cash balance per books at October 31·The November bank statement showed the following checks and deposits. Bank Statement hecks Date Number Amount 11-1 11-2 2471 11-5 2474 11-4 2475 11-8 2476 11-10 2477 11-15 2479 11-18 2480 11-27 2481 11-30 2483 11-29 2486940.00 Amount 2470 684.20 11-1 $1,530.20 44.50 1141,211.60 990.10 1,640.70 11-13 2,575.00 2,830.00 11-18 1,472.70 500.00 11-21 2,945.00 1,750.00 11-25 2,567.30 1,330.00 11-28 1,650,00 695.40 11-30 1,186.00 575.50 Total 16,127.90 1,050.00 11-8 Total $12,940.30Explanation / Answer
Deposit in transit is the deposit made on 11/30 of $1304 which can be found on the cash receipt journal but not on the bank statement. Error in recording check is for check no. 2479 which is actually for $1750 but recorded in cash payments as $1705 (1750-1705 equals $45) Error in recording check is for check no. 2479 which is actually for $1750 but recorded in cash payments as $1705 (1750-1705 equals $9)