Completing a Bank Reconciliation.Supplies Needed: Copy of Figure 4; Bank Statement; Bank Reconciliation Form.DirectionsOn November 26 you received the bank statement for the November Sales Seminar account for Supreme Appliances, shown in Figure 4. On November 23 you received a check from Al’s Print Shop for $170.00 as a 10 percent discount for paying promptly. You mailed this check to the bank, but it is not shown on the bank statement. You have checked off all the canceled checks and the following checks are outstanding and have not been paid by the bank:No. 2111 $386.50No. 2115 $52.40No. 2120 $110.80No. 2121 $12.15A service charge of $20.00 has been charged to your account. Ending balance in the checkbook was $6,430.55. Reconcile the bank statement shown in Figure 4 using C9-AP-A. Key the bank reconciliation. BANK STATEMENTGILBERT BANK OF ROCHESTERNAME: November Sales SeminarC/O Amanda Quevedo14 Shady LaneRochester, NY 14623ACCOUNT NO.TRANSIT NO.3570-810-73-100000011-112000BRANCH:Rochester MainBEGINNINGBALANCE$8,380.25October 25, 20XXCODEDESCRIPTIONDEBITCREDITDAY/MOBALANCE10/258,380.25DDDirect deposit300.0010/268,680.25DDDirect deposit1,500.0010/2610,180.25DDDirect deposit3,000.0010/2913,180.25CKCheck #20091,224.0010/3111,956.25CKCheck #2010510.0011/0311,446.25CKCheck #2015450.0011/0510,996.25DDDirect deposit2,250.0011/0913,246.25CKCheck #20161,700.0011/1511,546.25CKCheck #20172,000.0011/189,546.25SCService charge20.0011/239,526.25CKCheck #20182,723.8511/236,802.40No. ofChecks: 6No. ofCredits: 4TotalDebits:$8,627.85TotalCredits:$7,050.00FIGURE 4 •Bank statement.November25, 200XEndingBalance:$6,802.40377

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BANK STATEMENT GILBERT BANK OF ROCHESTER NAME: November Sales Seminar C/O Amanda Quevedo 14 Shady Lane Rochester, NY 14623 ACCOUNT NO. TRANSIT NO. 3570-810-73-1000 00011-112000 BRANCH: Rochester Main BEGINNING BALANCE $8,380.25 October 25, 20XX CODE DESCRIPTION DEBIT CREDIT DAY/MO BALANCE 10/25 8,380.25 DD Direct deposit 300.00 10/26 8,680.25 DD Direct deposit 1,500.00 10/26 10,180.25 DD Direct deposit 3,000.00 10/29 13,180.25 CK Check #2009 1,224.00 10/31 11,956.25 CK Check #2010 510.00 11/03 11,446.25 CK Check #2015 450.00 11/05 10,996.25 DD Direct deposit 2,250.00 11/09 13,246.25 CK Check #2016 1,700.00 11/15 11,546.25 CK Check #2017 2,000.00 11/18 9,546.25 SC Service charge 20.00 11/23 9,526.25 CK Check #2018 2,723.85 11/23 6,802.40 No. of Checks: 6 No. of Credits: 4 Total Debits: $8,627.85 Total Credits: $7,050.00 FIGURE 4 • Bank statement. November 25, 200X Ending Balance: $6,802.40 377

BANK STATEMENT GILBERT BANK OF ROCHESTER NAME: November Sales Seminar C/O Amanda Quevedo 14 Shady Lane Rochester, NY 14623 ACCOUNT NO. TRANSIT NO. 3570-810-73-1000 00011-112000 BRANCH: Rochester Main BEGINNING BALANCE $8,380.25 October 25, 20XX CODE DESCRIPTION DEBIT CREDIT DAY/MO BALANCE 10/25 8,380.25 DD Direct deposit 300.00 10/26 8,680.25 DD Direct deposit 1,500.00 10/26 10,180.25 DD Direct deposit 3,000.00 10/29 13,180.25 CK Check #2009 1,224.00 10/31 11,956.25 CK Check #2010 510.00 11/03 11,446.25 CK Check #2015 450.00 11/05 10,996.25 DD Direct deposit 2,250.00 11/09 13,246.25 CK Check #2016 1,700.00 11/15 11,546.25 CK Check #2017 2,000.00 11/18 9,546.25 SC Service charge 20.00 11/23 9,526.25 CK Check #2018 2,723.85 11/23 6,802.40 No. of Checks: 6 No. of Credits: 4 Total Debits: $8,627.85 Total Credits: $7,050.00 FIGURE 4 • Bank statement. November 25, 200X Ending Balance: $6,802.40 377

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter16: Mastering Financial Management

Section: Chapter Questions

Problem 3DQ

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