Prepare the adjusting entries based on the reconciliation. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275. 50.) Date Account Titles and Explanation Debit Credit Nov 30 enter an account title to record electronic funds transfer received by bank on November 30 enter a debit amount enter a credit amount enter an account title to record electronic funds transfer received by bank on November 30 enter a debit amount enter a credit amount (To record electronic funds transfer received by bank) Nov 30 enter an account title to record charge for printing company checks on November 30 enter a debit amount enter a credit amount enter an account title to record charge for printing company checks on november 30 enter a debit amount enter a credit amount (To record charge for printing company checks) Nov 30 enter an account title for the adjusting entry based on the reconciliation to correct error in recording check on November 30 enter a debit amount enter a credit amount enter an account title for the adjusting entry based on the reconciliation to correct error in recording check on November 30 enter a debit amount enter a credit amount (To correct error in recording check) Nov 30 enter an account title for the adjusting entry based on the reconciliation to correct error in deposit on November 30 enter a debit amount enter a credit amount enter an account title for the adjusting entry based on the reconciliation to correct error in deposit on November 30 enter a debit amount enter a credit amount (To correct error in deposit) 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 Checks Deposits Date Number Amount Date Amount 11-1 2470 $ 684.20 11-1 $ 1,530.20 11-2 2471 844.50 11-4 1,211.60 11-5 2474 1,050.00 11-8 990.10 11-4 2475 1,640.70 11-13 2,575.00 11-8 2476 2,830.00 11-18 1,472.70 11-10 2477 600.00 11-19 EFT 2,382.00 11-15 2479 1,750.00 11-21 2,945.00 11-18 2480 1,330.00 11-25 2,567.30 11-27 2481 695.40 11-28 1,650.00 11-28 SC 90.25 11-30 1,186.00 11-30 2483 575.50 Total 18,509.90 11-29 2486 940.00 Total $13,030.55 The cash records per books for November showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount Date Amount 11-1 2475 $1,640.70 11-20 2483 $ 575.50 11-3 $ 1,211.60 11-2 2476 2,830.00 11-22 2484 824.25 11-7 990.10 11-2 2477 600.00 11-23 2485 974.80 11-12 2,575.00 11-4 2478 538.20 11-24 2486 940.00 11-17 1,472.70 11-8 2479 1,705.00 11-29 2487 398.00 11-20 2,954.00 11-10 2480 1,330.00 11-30 2488 800.00 11-24 2,567.30 11-15 2481 695.40 Total $14,463.85 11-27 1,650.00 11-18 2482 612.00 11-29 1,186.00 11-30 1,484.00 Total 16,090.7

Prepare the adjusting entries based on the reconciliation. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275. 50.) Date Account Titles and Explanation Debit Credit Nov 30 enter an account title to record electronic funds transfer received by bank on November 30 enter a debit amount enter a credit amount enter an account title to record electronic funds transfer received by bank on November 30 enter a debit amount enter a credit amount (To record electronic funds transfer received by bank) Nov 30 enter an account title to record charge for printing company checks on November 30 enter a debit amount enter a credit amount enter an account title to record charge for printing company checks on november 30 enter a debit amount enter a credit amount (To record charge for printing company checks) Nov 30 enter an account title for the adjusting entry based on the reconciliation to correct error in recording check on November 30 enter a debit amount enter a credit amount enter an account title for the adjusting entry based on the reconciliation to correct error in recording check on November 30 enter a debit amount enter a credit amount (To correct error in recording check) Nov 30 enter an account title for the adjusting entry based on the reconciliation to correct error in deposit on November 30 enter a debit amount enter a credit amount enter an account title for the adjusting entry based on the reconciliation to correct error in deposit on November 30 enter a debit amount enter a credit amount (To correct error in deposit) 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 Checks Deposits Date Number Amount Date Amount 11-1 2470 $ 684.20 11-1 $ 1,530.20 11-2 2471 844.50 11-4 1,211.60 11-5 2474 1,050.00 11-8 990.10 11-4 2475 1,640.70 11-13 2,575.00 11-8 2476 2,830.00 11-18 1,472.70 11-10 2477 600.00 11-19 EFT 2,382.00 11-15 2479 1,750.00 11-21 2,945.00 11-18 2480 1,330.00 11-25 2,567.30 11-27 2481 695.40 11-28 1,650.00 11-28 SC 90.25 11-30 1,186.00 11-30 2483 575.50 Total 18,509.90 11-29 2486 940.00 Total $13,030.55 The cash records per books for November showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount Date Amount 11-1 2475 $1,640.70 11-20 2483 $ 575.50 11-3 $ 1,211.60 11-2 2476 2,830.00 11-22 2484 824.25 11-7 990.10 11-2 2477 600.00 11-23 2485 974.80 11-12 2,575.00 11-4 2478 538.20 11-24 2486 940.00 11-17 1,472.70 11-8 2479 1,705.00 11-29 2487 398.00 11-20 2,954.00 11-10 2480 1,330.00 11-30 2488 800.00 11-24 2,567.30 11-15 2481 695.40 Total $14,463.85 11-27 1,650.00 11-18 2482 612.00 11-29 1,186.00 11-30 1,484.00 Total 16,090.7

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Prepare the adjusting entries based on the reconciliation. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275. 50.)

Date	Account Titles and Explanation	Debit	Credit
Nov 30	enter an account title to record electronic funds transfer received by bank on November 30	enter a debit amount	enter a credit amount
	enter an account title to record electronic funds transfer received by bank on November 30	enter a debit amount	enter a credit amount
	(To record electronic funds transfer received by bank)
Nov 30	enter an account title to record charge for printing company checks on November 30	enter a debit amount	enter a credit amount
	enter an account title to record charge for printing company checks on november 30	enter a debit amount	enter a credit amount
	(To record charge for printing company checks)
Nov 30	enter an account title for the adjusting entry based on the reconciliation to correct error in recording check on November 30	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry based on the reconciliation to correct error in recording check on November 30	enter a debit amount	enter a credit amount
	(To correct error in recording check)
Nov 30	enter an account title for the adjusting entry based on the reconciliation to correct error in deposit on November 30	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry based on the reconciliation to correct error in deposit on November 30	enter a debit amount	enter a credit amount
	(To correct error in deposit)

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
Checks	Deposits
Date	Number	Amount	Date	Amount
11-1	2470	$ 684.20	11-1	$ 1,530.20
11-2	2471	844.50	11-4	1,211.60
11-5	2474	1,050.00	11-8	990.10
11-4	2475	1,640.70	11-13	2,575.00
11-8	2476	2,830.00	11-18	1,472.70
11-10	2477	600.00	11-19 EFT	2,382.00
11-15	2479	1,750.00	11-21	2,945.00
11-18	2480	1,330.00	11-25	2,567.30
11-27	2481	695.40	11-28	1,650.00
11-28	SC	90.25	11-30	1,186.00
11-30	2483	575.50	Total	18,509.90
11-29	2486	940.00
	Total	$13,030.55

The cash records per books for November showed the following.

Cash Payments Journal	Cash Receipts Journal
Date	Number	Amount	Date	Number	Amount	Date	Amount
11-1	2475	$1,640.70	11-20	2483	$ 575.50	11-3	$ 1,211.60
11-2	2476	2,830.00	11-22	2484	824.25	11-7	990.10
11-2	2477	600.00	11-23	2485	974.80	11-12	2,575.00
11-4	2478	538.20	11-24	2486	940.00	11-17	1,472.70
11-8	2479	1,705.00	11-29	2487	398.00	11-20	2,954.00
11-10	2480	1,330.00	11-30	2488	800.00	11-24	2,567.30
11-15	2481	695.40	Total		$14,463.85	11-27	1,650.00
11-18	2482	612.00				11-29	1,186.00
						11-30	1,484.00
						Total	16,090.7

Expert Solution

Step 1 Journal entries

		Debit	Credit
Nov 30	Cash	2,382.00
	Accounts Receivable		2,382.00
	(To record collection of accounts receivable)
Nov 30	Bank service charge expense/Miscellaneous expense
	Cash
	(To record charge for printing company checks)
Nov 30	Accounts Payable	45.00
	Cash		45.00
	(To correct an error in recording check)
Nov 30	Accounts Receivable	9.00
	Cash		9.00
	(To correct error in deposit)

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