The Tamarisk Marine Supply Company's bank statement for the month of November showed a balance per bank of $8,500. The company's Cash account in the general ledger had a balance of $5,536 at November 30. Other information is as follows: (1) Cash receipts for November 30 recorded on the company's books were $6,480 but this amount does not appear on the bank statement. (2) (3) (4) (5) (6) (7) The bank statement shows a debit memorandum for $50 for check printing charges. Check No. 119 payable to Riverbed Company was recorded in the cash payments journal and cleared the bank for $368. A review of the accounts payable subsidiary ledger shows a $18 credit balance in the account of Riverbed Company and that the payment to them should have been for $386. The total amount of checks still outstanding at November 30 amounted to $6,260. Check No. 138 was correctly written and paid by the bank for $506. The cash payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $560. The bank returned an NSF check from a customer for $700. The bank included a credit memorandum for $3,880 which represents a collection of a customer's note by the bank for the company; the principal amount of the note was $3,748 and interest was $132. Interest has not been accrued. Prepare a bank reconciliation for the Tamarisk Marine Supply Company at November 30. TAMARISK Marine Supply Company Bank Reconciliation $
The Tamarisk Marine Supply Company's bank statement for the month of November showed a balance per bank of $8,500. The company's Cash account in the general ledger had a balance of $5,536 at November 30. Other information is as follows: (1) Cash receipts for November 30 recorded on the company's books were $6,480 but this amount does not appear on the bank statement. (2) (3) (4) (5) (6) (7) The bank statement shows a debit memorandum for $50 for check printing charges. Check No. 119 payable to Riverbed Company was recorded in the cash payments journal and cleared the bank for $368. A review of the accounts payable subsidiary ledger shows a $18 credit balance in the account of Riverbed Company and that the payment to them should have been for $386. The total amount of checks still outstanding at November 30 amounted to $6,260. Check No. 138 was correctly written and paid by the bank for $506. The cash payment journal reflects an entry for Check No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $560. The bank returned an NSF check from a customer for $700. The bank included a credit memorandum for $3,880 which represents a collection of a customer's note by the bank for the company; the principal amount of the note was $3,748 and interest was $132. Interest has not been accrued. Prepare a bank reconciliation for the Tamarisk Marine Supply Company at November 30. TAMARISK Marine Supply Company Bank Reconciliation $
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 1COMP
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Transcribed Image Text:The Tamarisk Marine Supply Company's bank statement for the month of November showed a balance per bank of $8,500. The
company's Cash account in the general ledger had a balance of $5,536 at November 30. Other information is as follows:
(1) Cash receipts for November 30 recorded on the company's books were $6,480 but this amount does not appear on the
bank statement.
(2)
(3)
(4)
(5)
(6)
(7)
The bank statement shows a debit memorandum for $50 for check printing charges.
Check No. 119 payable to Riverbed Company was recorded in the cash payments journal and cleared the bank for $368. A
review of the accounts payable subsidiary ledger shows a $18 credit balance in the account of Riverbed Company and that
the payment to them should have been for $386.
The total amount of checks still outstanding at November 30 amounted to $6,260.
Check No. 138 was correctly written and paid by the bank for $506. The cash payment journal reflects an entry for Check
No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $560.
The bank returned an NSF check from a customer for $700.
The bank included a credit memorandum for $3,880 which represents a collection of a customer's note by the bank for the
company; the principal amount of the note was $3,748 and interest was $132. Interest has not been accrued.
Prepare a bank reconciliation for the Tamarisk Marine Supply Company at November 30.
TAMARISK Marine Supply Company
Bank Reconciliation
$
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