The October 31 bank statement for Ivanhoe Ltd had an ending balance of $9,250.22. The cash account according to the company's records was $3,855.02 as at the same date. The following additional data was available 1. 2. 3. 4. The company had made a deposit in the night box of $2,400.00 on October 31 after the branch was closed. There were outstanding cheques totalling $8,450.20 as at October 31. The bank service fee was $50.00 for the month. A cheque in the amount of $600.00 deposited by Ivanhoe on October 21 had been returned NSF and the bank charged a $5.00 fee on the item. Ivanhoe had NOT known about the returned item until it received the bank statement. Prepare the bank reconciliation for Ivanhoe Ltd. for the month of October. (List items that increase balance as per bank & G/L first. Round answers to 2 decimal places, e.g. 4,215.25.)

The October 31 bank statement for Ivanhoe Ltd had an ending balance of $9,250.22. The cash account according to the company's records was $3,855.02 as at the same date. The following additional data was available 1. 2. 3. 4. The company had made a deposit in the night box of $2,400.00 on October 31 after the branch was closed. There were outstanding cheques totalling $8,450.20 as at October 31. The bank service fee was $50.00 for the month. A cheque in the amount of $600.00 deposited by Ivanhoe on October 21 had been returned NSF and the bank charged a $5.00 fee on the item. Ivanhoe had NOT known about the returned item until it received the bank statement. Prepare the bank reconciliation for Ivanhoe Ltd. for the month of October. (List items that increase balance as per bank & G/L first. Round answers to 2 decimal places, e.g. 4,215.25.)

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 1PB

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