Reference no: EM132381004

Question

Balance per books at October 31, $140,190.30; receipts $581,305.10; disbursements $552,393.36. Balance per bank statement November 30, $188,518.57.

The following checks were outstanding at November 30.

1224 $5,478.22

1230 8,268.81

1232 7,119.25

1233 1,615.27

Included with the November bank statement and not recorded by the company were a bank debit memo for $91.79 covering bank charges for the month, a debit memo for $1,246.64 for a customer's check returned and marked NSF, and a credit memo for $4,690 representing bond interest collected by the bank in the name of Ivanhoe Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $6,416.59.

A. ????Cash adjusted balance is $172,453.61.

Explanation:

Use the following as a guide:

Ivanhoe Inc.

Bank Reconciliation

For the month ended November 30

Balance per bank statement.................$188,518.57

Add: Deposit in transit...............................6,416.59

Less; Outstanding checks:

1224 $5,478.22

1230 8,268.81

1232 7,119.25

1233 1,615.27......................................22,481.55

Adjusted balance per bank...................$172,453.61

Balance per book..................................$169,102.04*

Add; Note collected by the bank...............4,690.00

Less;

Bank service charge.....................91.79

NSF

check...............................1,246.64....1,338.43

Adjusted balance per

book......................$172,453.61

*140,190.3 + 581,305.1 - 552,393.36

b. journal entries required to adjust the cash account at November 30. (Enter answers to 2 decimal places, e.g. 125.62. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)