Prepare a bank reconcilation at December 31, 2022 and prepare the adjusting entries based on the reconciliation. The cash records per books for December showed the followingCash Payments JournalCash Receipts JournalDateNumberAmountDateNumberAmountDateAmount12-13475$1,640.7012-203482$475.5012-3$1,211.6012-234761,300.0012-2234831,140.0012-72,365.112-234772,130.0012-233484793.0012-152,672.7012-43478621.3012-243485250.8012-202,954.0012-834793,080.0012-303486889.5012-252,567.3012-103480600.00Total$13,728.2012-282,836.0012-173481807.4012-301,025.0012-311,690.40Total$17,322.10The bank statement contained two memoranda:1.Acredit of $2,310 for the collection of Sunland Company of an electronic funds transfer.2.A debit for the printing of additional company checks $90.At December 31, the cash balance per books was $14,655.20, and the cash balance per the bank statement was $19,792.10. Thdid not make any errors, but Sunland Company made two errors. The bank portion of the bank reconciliation for Sunland Company at November 30, 2022, was as follovws.Sunland CompanyBank ReconciliationNovember 30, 2022Cash balance per bank$14,837.90Add: Deposits in transit2,530.2017,368.10Less: Outstanding checksCheck NumberCheck Amount3451$2,260.403470720.103471844.5034721,426.8034741,055.006,306.80Adjusted cash balance per bank$11,061.30The adjusted cash balance per bank agreed with the cash balance per bocoks at November 30.The December bank statement showed the following checks and deposits.Bank StatementChecksDepositsDateNumberAmountDateAmount12-13451$2,260.4012-1$2,530.2012-23471844.5012-41,211.6012-734721,426.8012-82,365.112-434751,640.7012-162,672.7012-834761,300.0012-212,945.0012-1034772,130.0012-262,567.3012-1534793,080.0012-292,836.0012-273480600.0012-301,025.0012-303482475.50Total$18,152.9012-2934831,140.0012-313485520.80Total$15,418.70

Bank reconciliation statement reconciles differences cash balance as per bank statement and cash…

The bank portion of the bank reconciliation for Sunland Company at November 30, 2022, was as follows. Sunland Company Bank Reconciliation November 30, 2022 Cash balance per bank $14837.90 Add: Deposits in transit 2.530.20 17,368.10 Less: Outstanding checks Check Number Check Amount 3451 5260.40 3470 720.10 3471 844.50 3472 1.426.80 3474 1.055.00 6.306.80 Adjusted cash balance per bank $11.061.30 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 $2.260.40 12-1 $2.530.20 12-2 3471 844.50 12-4 1.211.60 12-7 3472 1,426.80 12-8 2,365.1 12-4 3475 1.640.70 12-16 2,672.70 12-8 3476 1,300.00 12-21 2,945.00 12-10 3477 2,130.00 12-26 2,567.30 12-15 3479 3,080.00 12-29 2,836.00 12-27 3480 600.00 12-30 1,025.00 12-30 3482 475.50 Total $18.152.90 12-29 3483 1140.00 12-31 3485 520.80 Total $15,418.70

The bank portion of the bank reconciliation for Sunland Company at November 30, 2022, was as follows. Sunland Company Bank Reconciliation November 30, 2022 Cash balance per bank $14837.90 Add: Deposits in transit 2.530.20 17,368.10 Less: Outstanding checks Check Number Check Amount 3451 5260.40 3470 720.10 3471 844.50 3472 1.426.80 3474 1.055.00 6.306.80 Adjusted cash balance per bank $11.061.30 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 $2.260.40 12-1 $2.530.20 12-2 3471 844.50 12-4 1.211.60 12-7 3472 1,426.80 12-8 2,365.1 12-4 3475 1.640.70 12-16 2,672.70 12-8 3476 1,300.00 12-21 2,945.00 12-10 3477 2,130.00 12-26 2,567.30 12-15 3479 3,080.00 12-29 2,836.00 12-27 3480 600.00 12-30 1,025.00 12-30 3482 475.50 Total $18.152.90 12-29 3483 1140.00 12-31 3485 520.80 Total $15,418.70

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 6EA: The bank reconciliation shows the following adjustments: Deposits in transit: $852 Notes...

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