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7-2 The Cash account in the ledger of Haselhof Inc. shows a balance of $48,678.22 at November 30. The bank statement, however, shows a balance of $56,274.20 at the same date. The only reconciling items consist of the followings: The following checks were outstanding at November 30 $1,635.29 2,468.30 2,125.15 482.17 1224 1230 1232 1233 Included with the November bank statement and not recorded by the company were a bank debit memo for $27.40 covering bank charges for the month, a debit memo for $372.13 for a customer's check returned and marked NSF, and a credit memo for $1400 representing bond interest collected by the bank in the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $1,915.40 Haselholf has wrongly recorded check # 1220 to purchase office equipment which cleared the bank for $1,300 as $3,100 Prepare the bank reconciliation and the adjusting entries.

7-2 The Cash account in the ledger of Haselhof Inc. shows a balance of $48,678.22 at November 30. The bank statement, however, shows a balance of $56,274.20 at the same date. The only reconciling items consist of the followings: The following checks were outstanding at November 30 $1,635.29 2,468.30 2,125.15 482.17 1224 1230 1232 1233 Included with the November bank statement and not recorded by the company were a bank debit memo for $27.40 covering bank charges for the month, a debit memo for $372.13 for a customer's check returned and marked NSF, and a credit memo for $1400 representing bond interest collected by the bank in the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $1,915.40 Haselholf has wrongly recorded check # 1220 to purchase office equipment which cleared the bank for $1,300 as $3,100 Prepare the bank reconciliation and the adjusting entries.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PA
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7-2 The Cash account in the ledger of Haselhof Inc. shows a balance of $48,678.22 at November 30. The bank statement, however, shows a balance of $56,274.20 at the same date. The only reconciling items consist of the followings: The following checks were outstanding at November 30 $1,635.29 2,468.30 2,125.15 482.17 1224 1230 1232 1233 Included with the November bank statement and not recorded by the company were a bank debit memo for $27.40 covering bank charges for the month, a debit memo for $372.13 for a customer's check returned and marked NSF, and a credit memo for $1400 representing bond interest collected by the bank in the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $1,915.40 Haselholf has wrongly recorded check # 1220 to purchase office equipment which cleared the bank for $1,300 as $3,100 Prepare the bank reconciliation and the adjusting entries.
Transcribed Image Text:7-2 The Cash account in the ledger of Haselhof Inc. shows a balance of $48,678.22 at November 30. The bank statement, however, shows a balance of $56,274.20 at the same date. The only reconciling items consist of the followings: The following checks were outstanding at November 30 $1,635.29 2,468.30 2,125.15 482.17 1224 1230 1232 1233 Included with the November bank statement and not recorded by the company were a bank debit memo for $27.40 covering bank charges for the month, a debit memo for $372.13 for a customer's check returned and marked NSF, and a credit memo for $1400 representing bond interest collected by the bank in the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $1,915.40 Haselholf has wrongly recorded check # 1220 to purchase office equipment which cleared the bank for $1,300 as $3,100 Prepare the bank reconciliation and the adjusting entries.
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