(Bank Reconciliation and Adjusting Entries) Presented below is information related to Haselhof Inc. Balance per books...

(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 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.

Expert Solution

November 30 cash balance = October 31 cash balance + Receipts - Disbursements

= 41,847.85+173,523.91-164,893.54

= $50,478.22

Haselhof Inc
Bank Reconciliation
November 30
Bank statement balance		56,274.20	Book balance		50,478.22
Add:			Add:
Deposit in transit		1,915.40	Interest collected by bank		1,400

Less:			Less:
Outstanding check			NSF check	-372.13
Check 1224	1,635.29		Bank charges	-27.40
Check 1230	2,468.30				-399.53
Check 1232	2,125.15
Check 1233	482.17
		-6,710.91
Adjusted bank balance		$51,478.69	Adjusted book balance		$51,478.69

Date	General Journal	Debit	Credit
November 30	Cash	1,400
	Interest revenue		1,400
	( To record interest revenue)
November 30	Accounts receivable	372.13
	Cash		372.13
	( To record NSF Check)
November 30	Bank charges	27.40
	Cash		27.40
	( To record bank charges)

ekkarill92 answered 1 year ago

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