Question

Problem 8-05A a-b (Video) The bank portion of the bank reconciliation for Waterway Company at November 30, 2020, was as follows. Waterway COMPANY Bank Reconciliation November 30, 2020 Cash balance per bank $14,777.90 Add: Deposits in transit 2,530.20 17,308.10 Less: Outstanding checks Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,053.00 6,304.80 Adjusted cash balance per bank $11,003.30 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 $2,260.40 12-1 $ 2,530.20 12-2 3471 844.50 12-4 1,211.60 12-7 3472 1,426.80 12-8 2,365.10 12-4 3475 1,640.70 12-16 2,672.70 12-8 3476 1,300 12-21 2,945 12-10 3477 2,130 12-26 2,567.30 12-15 3479 3,080 12-29 2,836 12-27 3480 600 12-30 1,025 12-30 3482 475.50 Total $18,152.90 12-29 3483 1,140 12-31 3485 540.80 Total $15,438.70 The cash records per books for December showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount Date Amount 12-1 3475 $1,640.70 12-20 3482 $475.50 12-3 $ 1,211.60 12-2 3476 1,300 12-22 3483 1,140 12-7 2,365.10 12-2 3477 2,130 12-23 3484 795.00 12-15 2,672.70 12-4 3478 621.30 12-24 3485 450.80 12-20 2,954 12-8 3479 3,080 12-30 3486 889.50 12-25 2,567.30 12-10 3480 600 Total $13,930.20 12-28 2,836 12-17 3481 807.40 12-30 1,025 12-31 1,690.40 Total $17,322.10 The bank statement contained two memoranda: 1. A credit of $2,350 for the collection of Langer Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $88.00. At December 31, the cash balance per books was $14,395.20, and the cash balance per the bank statement was $19,754.10. The bank did not make any errors, but Langer Company made two errors. WATERWAY COMPANY Bank Reconciliation December 31, 2020 Cash balance per bank statement 19754.10 Add Deposits in transit Less Outstanding checks Adjusted cash balance per bank II Cash balance per books A

Answer 1

WATERWAY COMPANY Bank Reconciliation December 31, 2020
Cash balance as per bank statement		$19,754.10
Add: Deposits in transits		1,690.40
		21,444.5
Less: Outstanding checks:
3470	$720.10
3474	1,053
3478	621.30
3481	807.40
3484	795
3486	889.50
		4,886.3
Adjusted cash balance per bank book		16,558.2

Cash balance per books		$14,395.20
Add: Collections of EFT		2,350
		16,745.2
Less:
Printing checks	$88
Error in recording check	90
Error in deposit	9
		187
Adjusted cash balance per books		$16,558.2