Question

2. Prepare a bank reconciliation for Collier Jarden company as of November 30, using the following information. Cash on November 30 bank statement $10.410 Cash account balance in general ledger 9,890 Deposit made on November 30, not recorded on bank statement 1,865 Note collected by bank ($1,200 plus $60 in interest) 1,260 Outstanding checks: No. 567, $800; No. 569, $452 1,252 Debit memorandum from bank for a NSF check written by J. Lane In payment of his account 100 In addition, Collier Jarden recorded Check No. 548 written for $152 in payment of the November utility bill as $125.

Answer 1

Collier Jarden Company
Bank Reconciliation
November 30
Bank statement balance	10,410	Book balance	9,890
Add:		Add:
Deposit in transit	1,865	Interest revenue earned	60
		Bank collection of receivables	1,200
Less:		Less:
Outstanding check		NSF check	-100
Cheque no - 567	-800	Correction of book error	-27
Cheque no - 569	-452
Adjusted bank balance	$11,023	Adjusted book balance	$11,023

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