bank reconciliation for Helene Company
accountguruThe bank portion of the bank reconciliation for Helene Company at November 30, 2012, was as follows.
HELENE COMPANY | ||
Bank Reconciliation | ||
November 30, 2012 | ||
Cash balance per bank | $14,367.90 | |
Add: Deposits in transit | 2,530.20 | |
16,898.10 | ||
Less: Outstanding checks | ||
Check Number | Check Amount | |
3451 | $2,260.40 | |
3470 | 720.10 | |
3471 | 844.50 | |
3472 | 1,426.80 | |
3474 | 1,050.00 | 6,301.80 |
Adjusted cash balance per bank | $10,596.30 |
The adjusted cash balance per bank agreed with the cash balance per books at November 30.
Bank Statement | ||||
Checks | ||||
Date | Number | Amount | Date | Amount |
12-1 | 3451 | $ 2,260.40 | 12-1 | $ 2,530.20 |
12-2 | 3471 | 844.50 | 12-4 | 1,211.60 |
12-7 | 3472 | 1,426.80 | 12-8 | 2,365.10 |
12-4 | 3475 | 1,640.70 | 12-16 | 2,672.70 |
12-8 | 3476 | 1,300.00 | 12-21 | 2,945.00 |
12-10 | 3477 | 2,130.00 | 12-26 | 2,567.30 |
12-15 | 3479 | 3,080.00 | 12-29 | 2,836.00 |
12-27 | 3480 | 600.00 | 12-30 | 1,025.00 |
12-30 | 3482 | 475.50 | Total | $18,152.90 |
12-29 | 3483 | 1,140.00 | ||
12-31 | 3485 | 540.80 | ||
Total | $15,438.70 |
The cash records per books for December showed the following.
Cash Receipts | ||||||||
Cash Payments Journal | Journal | |||||||
Date | Number | Amount | Date | Number | Amount | Date | Amount | |
12-1 | 3475 | $1,640.70 | 12-20 | 3482 | $ 475.50 | 12-3 | $ 1,211.60 | |
12-2 | 3476 | 1,300.00 | 12-22 | 3483 | 1,140.00 | 12-7 | 2,365.10 | |
12-2 | 3477 | 2,130.00 | 12-23 | 3484 | 798.00 | 12-15 | 2,672.70 | |
12-4 | 3478 | 621.30 | 12-24 | 3485 | 450.80 | 12-20 | 2,954.00 | |
12-8 | 3479 | 3,080.00 | 12-30 | 3486 | 1,889.50 | 12-25 | 2,567.30 | |
12-10 | 3480 | 600.00 | Total | $14,933.20 | 12-28 | 2,836.00 | ||
12-17 | 3481 | 807.40 | 12-30 | 1,025.00 | ||||
12-31 | 1,690.40 | |||||||
Total | $17,322.10 | |||||||
The bank statement contained two memoranda:
1. A credit of $4,145 for the collection of a $4,000 note for Helene Company plus interest of $160 and less a collection fee of $15. Helene Company has not accrued any interest on the note.
2. A debit of $572.80 for an NSF check written by L. Purl, a customer. At December 31, the check had not been re-deposited in the bank.
At December 31, the cash balance per books was $12,485.20, and the cash balance per the bank statement was $20,154.30. The bank did not make any errors, but two errors were made by Helene Company.
Instructions
(a) Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31.
(b) Prepare the adjusting entries based on the reconciliation.
9 years ago
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bank_reconciliation_for_helene_company.xlsx
