Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 54

Bank Reconciliation
The cash transactions and cash balances of Dodge, Inc., for November were as follows:
1. The ledger account for Cash showed a balance at November 30of $6,750.
2. The November bank statement showed a closing balance of $4,710.
3. The cash received on November 30 amounted to $3,850.t was left at the bank in the night depository chute after banking hours on November 30 and therefore was not recorded by the bank on the November statement.
4. Also included with the November bank statement was a debit memorandum from the bank for $15 representing service charges for November.
5. A credit memorandum enclosed with the November bank statement indicated that a noninterest- bearing note receivable for$4,000 from Wright Sisters, left with the bank for collection, had been collected and the proceeds credited to the account of Dodge, Inc.
6. Comparison of the paid checks returned by the bank with the entries in the accounting records revealed that check no.10 for $430, issued November 15 in payment for computer equip-ment, had been erroneously entered in Dodge's records as $340.
7. Examination of the paid checks also revealed that three checks.ll issued in November, had not yet been paid by the bank: no.14 for $115; no.16 for $170; no.30 for$530.
8. Included with the November bank statement was a $2,900 check drawn by Steve Dial, a customer of Dodge, Inc.his check was marked "NSF." It had been included in the deposit of.ovember 27 but had been charged back against the company's account on November 30.
Instructions
a. Prepare a bank reconciliation for Dodge, Inc., at November 30.
b. Prepare journal entries (in general journal form) to adjust the accounts at November 30.ssume that the accounts have not been closed.
c. State the amount of cash that should be included in the balance sheet at November 30.