Question

Problem 7-04A (Part Level Submission) The bank portion of the bank reconciliation for Cullumber Company at October 31, 2022, is shown below. CULLUMBER COMPANY Bank Reconciliation October 31, 2022 Cash balance per bank Add: Deposits in transit $12,597.90 1,530.20 14,128.10 Less: Outstanding checks Check Number 2451 Check Amount $ 1,260.40 684.20 2470 2471 844.50 2472 427.80 1,050.00 2474 4,266.90 Adjusted cash balance per bank $9,861.20 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following checks and deposits.

Answer 1

Solution CULLUMBER COMPANY Bank Reconciliation November 30, 2022 Cash balance per bank statement Add: Deposit in transit $18,198.40 $1,534.00 $19,732.40 Less: Outstanding checks No. 2451 $1,260.40 No. 2472 $427.80 No. 2478 $538.20 No. 2482 $612.00 No. 2484 $828.05 No. 2485 $974.80 No. 2487 $398.00 No. 2488 $800.00 $5,839.25 $13,893.15 Adjusted cash balance per bank Cash balance per books $11,608.60 Add: Electronic fund transfer received $2,407.00 $14,015.60 Less: Check printing charge Error in deposit ($2,954 - $2,945) Error in recording check ($1,730 - $1,703) $86.45 $9.00 $27.00 $122.45 $13,893.15 Adjusted cash balance per books