(A) Prepare a bank reconciliation at December 31, 2018.(B) Prepare the adjusting journal entries based on the reconciliation. QUIXNO COMPANYBank ReconciliationNovember 30, 2018Cash balance per bankAdd: Deposits in transit$14,367.902.530.2016,898,10Less: Outstanding chequesCheque Number3451Cheque Amount$ 2,260.401,100.10844.501,426.801,050.003470347134723474The adjusted cash balance per bank agreed with the cash balance per books at November 30.The December 2018 bank statement showed the following cheques and deposits: ChequesNumber34513470DepositsDate12-112-212-712-412-812-1012-1512-2712-3012-2912-31Amount Date$2,260.40 12-11,100.10 12-41,426.80 12-81,640.70 12-1612-21Amount$2,530.201,211.602,365.102,672.702,945.002,567.302,836.001,025.00$18,152.903472347534761,300.002,130.00 12-263,080.00 12-29600.00 12-30475.50764.00540.80$15,318.30347734793480348234843485TotalTotalThe cash records per books for December showed the following:Number3475347634773478347934803481Cash Payments JournalAmount Date$1,640.70 12-201,300,00 12-222,130.00 12-23538.20 12-243,080.00 12-30600.00 Total807.40Number3482Date12-112-212-212-412-812-1012-17Amount$475.501,140.00764.00450.801,389.50$14,316.103483348434853486Date12-312-712-1512-20Cash Receipts JournalAmount Date$1,211.60 12-252,365.10 12-282,672.70 12-302,954.00 12-31TotalAmount2,567.302,836.001,025.001,190.40$16,822.10The bank statement contained two memoranda.A credit of $2,645 for the collection of a $2,500 note for Quixno plus interest of $160 andless a collection fee of $15. Quixno has not accrued any interest on the note.A debit of $819.10 for an NSF cheque written by J. Waller, a customer. At December 31the cheque had not been redeposited in the bank1.2.At December 31, the cash balance per books was $12,722.30, and the cash balance per bankstatement was $19,028.40. The bank did not make any errors.

What is Bank Reconciliation: A statement is prepared to reconcile the balance as per the cash book…

QUIXNO COMPANY Bank Reconciliation November 30, 2018 Cash balance per bank Add: Deposits in transit $14,367.90 2.530.20 16,898.10 Less: Outstanding cheques Cheque Number 3451 Cheque Amount $2,260.40 1,100.10 844.50 1,426.80 1,050.00 3470 3471 3472 3474 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December 2018 bank statement showed the following cheques and deposits:

QUIXNO COMPANY Bank Reconciliation November 30, 2018 Cash balance per bank Add: Deposits in transit $14,367.90 2.530.20 16,898.10 Less: Outstanding cheques Cheque Number 3451 Cheque Amount $2,260.40 1,100.10 844.50 1,426.80 1,050.00 3470 3471 3472 3474 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December 2018 bank statement showed the following cheques and deposits:

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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