ash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck 10102 Accounts Payable 1,374.12 6,885.74 10/2/2020 Ck 10103 Rent 3,420.00 3,465.74 10/2/2020 Ck 10104 Utilities 689.00 2,776.74 10/4/2020 Deposit 3,743.10 6,519.84 10/4/2020 Ck 10105 Advertising 344.21 6,175.63 10/4/2020 Ck 10106 Subscription 102.84 6,072.79 10/9/2020 Ck 10107 Internet 74.97 5,997.82 10/9/2020 Deposit 4,859.47 10,857.29 10/9/2020 Ck 10108 Telephone 221.00 10,636.29 10/9/2020 Deposit 11,339.64 21,975.93 10/12/2020 Ck 10109 Accounts Payable 1,680.00 20,295.93 10/13/2020 Ck 10110 Wages 3,852.00 16,443.93 10/13/2020 Ck 10111 Accounts Payable 114.00 16,329.93 10/14/2020 Ck 10112 Meals 27.42 16,302.51 10/15/2020 Deposit 8,533.17 24,835.68 10/15/2020 Ck 10113 Meals 22.90 24,812.78 10/20/2020 Ck 10114 Accounts Payable 188.21 24,624.57 10/20/2020 Ck 10115 Machinery 10,433.59 14,190.98 10/20/2020 Ck 10116 Gasoline 77.29 14,113.69 10/21/2020 Ck 10117 Accounts Payable 80.57 14,033.12 10/22/2020 Ck 10118 Dues 125.00 13,908.12 10/23/2020 Ck 10119 Wages 2,400.00 11,508.12 10/25/2020 Deposit 2,585.39 14,093.51 10/25/2020 Ck 10120 Supplies 445.84 13,647.67 10/25/2020 Ck 10121 Insurance 341.00 13,306.67 10/25/2020 Ck 10122 Accounts Payable 163.52 13,143.15 10/25/2020 Deposit--collection of note 4,000.00 17,143.15 10/26/2020 Ck 10123 Accounts Payable 1,591.00 15,552.15 10/29/2020 Deposit 3,127.00 18,679.15 10/29/2020 Ck 10124 Supplies 1,427.65 17,251.50 10/29/2020 Ck 10125 Accounts Payable 3,721.00 13,530.50 10/30/2020 Ck 10126 Accounts Payable 1,912.68 11,617.82 10/30/2020 Deposit 2,944.56 14,562.38 10/31/2020 Ck 10127 Interest 158.37 14,404.01 10/31/2020 Deposit 2,381.94 16,785.95 Note--all sales are on credit. All deposits on the books are from collections from customers unless specified otherwise. A collection from a customer (T. Kelsey) recorded on the books on October 25, 2020 was recorded at $2,585.39. The actual amount collected from the customer was $2,855.39. Check number 10120 written and mailed on October 25, 2020 was actually written for $645.84. The company accountant miskeyed the amount into the books at $445.84. And now the Bank statement: Activity for October 2020 Beginning Payments & Ending Balance Deposits Withdrawals Balance $7,165.17 $47,313.29 $43,859.61 $10,618.85 TOTALS Analysis of Deposits: 10/1/2020 $ 4,136.28 10/6/2020 3,743.10 10/10/2020 4,859.47 10/12/2020 11,339.64 10/15/2020 8,533.17 10/21/2020 1,750.00 Vendor Refund-Inventory Purchase 10/26/2020 2,855.39 10/30/2020 3,127.00 10/31/2020 2,944.56 Analysis of Payments and Checks 10/1/2020 9721 $ 487.00 10/3/2020 10101 931.26 10/5/2020 10106 102.84 10/7/2020 10104 689.00 10/7/2020 10100 941.38 10/12/2020 10105 344.21 10/14/2020 10108 221.00 10/14/2020 10103 3,420.00 10/18/2020 10111 114.00 10/19/2020 10109 1,680.00 10/22/2020 10113 22.90 10/22/2020 10110 3,852.00 10/25/2020 10114 188.21 10/25/2020 10116 77.29 10/27/2020 10121 341.00 10/28/2020 10117 80.57 10/28/2020 10123 1,591.00 10/29/2020 10115 10,433.59 10/29/2020 10118 125.00 10/30/2020 10120 645.84 10/31/2020 10119 2,400.00 10/31/2020 10122 163.52 Other deposits 10/27/2020 4,000.00 Collection of note 10/31/2020 24.68 INT

ash Date Debit Credit Balance 10/1/2020 Beginning Balance 8,259.86 10/1/2020 Ck 10102 Accounts Payable 1,374.12 6,885.74 10/2/2020 Ck 10103 Rent 3,420.00 3,465.74 10/2/2020 Ck 10104 Utilities 689.00 2,776.74 10/4/2020 Deposit 3,743.10 6,519.84 10/4/2020 Ck 10105 Advertising 344.21 6,175.63 10/4/2020 Ck 10106 Subscription 102.84 6,072.79 10/9/2020 Ck 10107 Internet 74.97 5,997.82 10/9/2020 Deposit 4,859.47 10,857.29 10/9/2020 Ck 10108 Telephone 221.00 10,636.29 10/9/2020 Deposit 11,339.64 21,975.93 10/12/2020 Ck 10109 Accounts Payable 1,680.00 20,295.93 10/13/2020 Ck 10110 Wages 3,852.00 16,443.93 10/13/2020 Ck 10111 Accounts Payable 114.00 16,329.93 10/14/2020 Ck 10112 Meals 27.42 16,302.51 10/15/2020 Deposit 8,533.17 24,835.68 10/15/2020 Ck 10113 Meals 22.90 24,812.78 10/20/2020 Ck 10114 Accounts Payable 188.21 24,624.57 10/20/2020 Ck 10115 Machinery 10,433.59 14,190.98 10/20/2020 Ck 10116 Gasoline 77.29 14,113.69 10/21/2020 Ck 10117 Accounts Payable 80.57 14,033.12 10/22/2020 Ck 10118 Dues 125.00 13,908.12 10/23/2020 Ck 10119 Wages 2,400.00 11,508.12 10/25/2020 Deposit 2,585.39 14,093.51 10/25/2020 Ck 10120 Supplies 445.84 13,647.67 10/25/2020 Ck 10121 Insurance 341.00 13,306.67 10/25/2020 Ck 10122 Accounts Payable 163.52 13,143.15 10/25/2020 Deposit--collection of note 4,000.00 17,143.15 10/26/2020 Ck 10123 Accounts Payable 1,591.00 15,552.15 10/29/2020 Deposit 3,127.00 18,679.15 10/29/2020 Ck 10124 Supplies 1,427.65 17,251.50 10/29/2020 Ck 10125 Accounts Payable 3,721.00 13,530.50 10/30/2020 Ck 10126 Accounts Payable 1,912.68 11,617.82 10/30/2020 Deposit 2,944.56 14,562.38 10/31/2020 Ck 10127 Interest 158.37 14,404.01 10/31/2020 Deposit 2,381.94 16,785.95 Note--all sales are on credit. All deposits on the books are from collections from customers unless specified otherwise. A collection from a customer (T. Kelsey) recorded on the books on October 25, 2020 was recorded at $2,585.39. The actual amount collected from the customer was $2,855.39. Check number 10120 written and mailed on October 25, 2020 was actually written for $645.84. The company accountant miskeyed the amount into the books at $445.84. And now the Bank statement: Activity for October 2020 Beginning Payments & Ending Balance Deposits Withdrawals Balance $7,165.17 $47,313.29 $43,859.61 $10,618.85 TOTALS Analysis of Deposits: 10/1/2020 $ 4,136.28 10/6/2020 3,743.10 10/10/2020 4,859.47 10/12/2020 11,339.64 10/15/2020 8,533.17 10/21/2020 1,750.00 Vendor Refund-Inventory Purchase 10/26/2020 2,855.39 10/30/2020 3,127.00 10/31/2020 2,944.56 Analysis of Payments and Checks 10/1/2020 9721 $ 487.00 10/3/2020 10101 931.26 10/5/2020 10106 102.84 10/7/2020 10104 689.00 10/7/2020 10100 941.38 10/12/2020 10105 344.21 10/14/2020 10108 221.00 10/14/2020 10103 3,420.00 10/18/2020 10111 114.00 10/19/2020 10109 1,680.00 10/22/2020 10113 22.90 10/22/2020 10110 3,852.00 10/25/2020 10114 188.21 10/25/2020 10116 77.29 10/27/2020 10121 341.00 10/28/2020 10117 80.57 10/28/2020 10123 1,591.00 10/29/2020 10115 10,433.59 10/29/2020 10118 125.00 10/30/2020 10120 645.84 10/31/2020 10119 2,400.00 10/31/2020 10122 163.52 Other deposits 10/27/2020 4,000.00 Collection of note 10/31/2020 24.68 INT

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EB: Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance:...

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Given this book and bank statement information, create an October bank reconciliation for Arrowhead company. And the journal entries required for the book side.

BOOK INFO:

Cash
Date		Debit	Credit	Balance
10/1/2020	Beginning Balance			8,259.86
10/1/2020	Ck 10102 Accounts Payable		1,374.12	6,885.74
10/2/2020	Ck 10103 Rent		3,420.00	3,465.74
10/2/2020	Ck 10104 Utilities		689.00	2,776.74
10/4/2020	Deposit	3,743.10		6,519.84
10/4/2020	Ck 10105 Advertising		344.21	6,175.63
10/4/2020	Ck 10106 Subscription		102.84	6,072.79
10/9/2020	Ck 10107 Internet		74.97	5,997.82
10/9/2020	Deposit	4,859.47		10,857.29
10/9/2020	Ck 10108 Telephone		221.00	10,636.29
10/9/2020	Deposit	11,339.64		21,975.93
10/12/2020	Ck 10109 Accounts Payable		1,680.00	20,295.93
10/13/2020	Ck 10110 Wages		3,852.00	16,443.93
10/13/2020	Ck 10111 Accounts Payable		114.00	16,329.93
10/14/2020	Ck 10112 Meals		27.42	16,302.51
10/15/2020	Deposit	8,533.17		24,835.68
10/15/2020	Ck 10113 Meals		22.90	24,812.78
10/20/2020	Ck 10114 Accounts Payable		188.21	24,624.57
10/20/2020	Ck 10115 Machinery		10,433.59	14,190.98
10/20/2020	Ck 10116 Gasoline		77.29	14,113.69
10/21/2020	Ck 10117 Accounts Payable		80.57	14,033.12
10/22/2020	Ck 10118 Dues		125.00	13,908.12
10/23/2020	Ck 10119 Wages		2,400.00	11,508.12
10/25/2020	Deposit	2,585.39		14,093.51
10/25/2020	Ck 10120 Supplies		445.84	13,647.67
10/25/2020	Ck 10121 Insurance		341.00	13,306.67
10/25/2020	Ck 10122 Accounts Payable		163.52	13,143.15
10/25/2020	Deposit--collection of note	4,000.00		17,143.15
10/26/2020	Ck 10123 Accounts Payable		1,591.00	15,552.15
10/29/2020	Deposit	3,127.00		18,679.15
10/29/2020	Ck 10124 Supplies		1,427.65	17,251.50
10/29/2020	Ck 10125 Accounts Payable		3,721.00	13,530.50
10/30/2020	Ck 10126 Accounts Payable		1,912.68	11,617.82
10/30/2020	Deposit	2,944.56		14,562.38
10/31/2020	Ck 10127 Interest		158.37	14,404.01
10/31/2020	Deposit	2,381.94		16,785.95

Note--all sales are on credit. All deposits on the books are from collections from customers unless specified otherwise.
A collection from a customer (T. Kelsey) recorded on the books on October 25, 2020 was recorded at $2,585.39. The actual amount collected from the customer was $2,855.39.
Check number 10120 written and mailed on October 25, 2020 was actually written for $645.84. The company accountant miskeyed the amount into the books at $445.84.

And now the Bank statement:

Activity for October 2020
Beginning		Payments &	Ending
Balance	Deposits	Withdrawals	Balance
$7,165.17	$47,313.29	$43,859.61	$10,618.85	TOTALS
Analysis of Deposits:
	10/1/2020	$ 4,136.28
	10/6/2020	3,743.10
	10/10/2020	4,859.47
	10/12/2020	11,339.64
	10/15/2020	8,533.17
	10/21/2020	1,750.00	Vendor Refund-Inventory Purchase
	10/26/2020	2,855.39
	10/30/2020	3,127.00
	10/31/2020	2,944.56
Analysis of Payments and Checks
	10/1/2020	9721	$ 487.00
	10/3/2020	10101	931.26
	10/5/2020	10106	102.84
	10/7/2020	10104	689.00
	10/7/2020	10100	941.38
	10/12/2020	10105	344.21
	10/14/2020	10108	221.00
	10/14/2020	10103	3,420.00
	10/18/2020	10111	114.00
	10/19/2020	10109	1,680.00
	10/22/2020	10113	22.90
	10/22/2020	10110	3,852.00
	10/25/2020	10114	188.21
	10/25/2020	10116	77.29
	10/27/2020	10121	341.00
	10/28/2020	10117	80.57
	10/28/2020	10123	1,591.00
	10/29/2020	10115	10,433.59
	10/29/2020	10118	125.00
	10/30/2020	10120	645.84
	10/31/2020	10119	2,400.00
	10/31/2020	10122	163.52
Other deposits
	10/27/2020		4,000.00	Collection of note
	10/31/2020		24.68	INT
Other withdrawals:
	10/30/2020	15,000.00	Loan Payment--principal
	10/31/2020	8.00	SC

They also give me the sept back reconciliation to aid in making the october one. (attachements)

Arrowhead Company
Bank Reconciliation
30-Sep-20
Balance per bank statement
Add:
7,165.17
Deposit in transit
4,136.28
Less:
Outstanding Checks
Check Number:
9721
487.00
9948
681.95
10100
941.38
10101
931.26
3,041.59
Adjusted balance
8,259.86

Balance per books
3,477.13
Add:
Collection of note, less $75 collection fee
4,925.00
Interest income
14.18
4,939.18
Less:
Charge for printing checks
147.00
Service charge
9.45
156.45
Adjusted balance
8,259.86

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