EX 8-22 Bank reconciliation
Identify the errors in the following bank reconciliation:
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Alma Co. |
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Bank Reconciliation |
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For the Month Ended November 30, 2012 |
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Cash balance according to bank statement |
$12,090 |
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Add outstanding checks: |
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No. 915 |
$850 |
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|
960 |
615 |
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964 |
850 |
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965 |
775 |
3,090 |
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$15,180 |
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Deduct deposit of November 30, not recorded by bank |
4,000 |
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Adjusted balance |
$11,180 |
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Cash balance according to company’s records |
$4,430 |
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Add: Proceeds of note collected by bank: |
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Principal |
$5,000 |
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Interest |
200 |
$5,200 |
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Service charges |
30 |
5,230 |
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|
$9,660 |
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Deduct: Check returned because of insufficient funds |
$1,100 |
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Error in recording November 23 deposit of $6,100 as $1,600 |
4,500 |
5,600 |
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Adjusted balance |
$4,060 |