Question

Instructions a. Prepare a bank reconciliation dated June 30, 2020, proceeding to a correct cash balance. b. Prepare any entries necessary to make the books correct and complete. *P7.14 (LO 6) (Bank Reconciliation and Adjusting Entries) Presented below is information related to Haselhof Inc. Balance per books at October 31, $41,847.85; receipts $173,523.91; disbursements $164,893.54. Balance per bank statement November 30, $56,274.20. The following checks were outstanding at November 30. 1224 $1,635.29 1230 2,468.30 1232 2,125.15 1233 482.17 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 Concepts for Analysis 7-55 returned and marked NSF, and a credit memo for $1,400 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.

Answer 1

Solution 1:

Solution 2:

Journal Entries - Haselhof Inc.
Date	Particulars	Debit	Credit
30-Nov	Cash Dr	$1,400.00
	To Interest Revenue		$1,400.00
	(Being interest credited by bank)
30-Nov	Accounts Receivables Dr	$372.13
	To Cash		$372.13
	(Being cheque dishonored by bank)
30-Nov	Service charges Dr	$27.40
	To Cash		$27.40
	(Being service charge debited by bank)