Question

Need correct answers for the ones with red x beside

The following information was available to reconcile Montrose Company's book balance of Cash with its bank statement balance as of October 31, 2017 a. After all posting was completed on October 31, the company's Cash account had a $13,219 debit b. Cheques #296 for $1,334 and #307 for $12,754 were outstanding on the September 30 bank balance, but its bank statement showed a $29,355 balance reconciliation. Cheque #307 was returned with the October canceled cheques, but cneque #296 was not. It was also found that cheque #315 for S893 and cheque #321 for $2,000, both written in October were not among the cancelled cheques returned with the statement. c. In comparing the cancelled cheques retuned by the bank with the entries in the accounting records, it was found that cheque #320 for the October rent was correctly written for S4.090 but was erroneously entered in the accounting records as 54,900 d. A credit memo enclosed with the bank statement indicated that there was an electronic fund transfer related to a customer payment for S21,400. A S120 bank service charge was deducted. This transaction was not recorded by Montrose befor e receiving the bank statement. e. A debit memo for 53,251 listed a $3,202 NSF cheque plus a $49 NSF charge. The cheque had been received from a customer, Jefferson Tyler. Montrose had not recorded this bounced cheque before receiving the statement. f. Also enclosed with the statement was a $74 debit memo for bank services. It had not been recorded g. The October 31 cash receipts, 56.856, were placed in the bank's night depository after banking hours on Required: because no previous notification had been received that date and this amoun t did not appear on the bank statement. 1. Prepare a bank reconciliation for the company as of October 31, 2017

Answer 1