P7-4a- laroche company-bank reconciliation statement & journal entries
P7-4A- LAROCHE COMPANY-Bank reconciliation statement & Journal entries
The bank portion of the bank reconciliation for LaRoche Company at October 31, 2014, is shown below.
LAROCHE COMPANY |
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Cash balance per bank |
$12,762.79 |
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Add: Deposits in transit |
1,530.20 |
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Less: Outstanding checks |
14,292.99 |
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Check Number |
Check Amount |
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2451 |
$ 1,260.40 |
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2470 |
684.20 |
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2471 |
844.50 |
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2472 |
428.96 |
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2474 |
1,050.00 |
4,268.06 |
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Adjusted cash balance per bank |
$10,024.93 |
The adjusted cash balance per bank agreed with the cash Cash balance per books at October 31. The November bank statement showed the following checks and deposits.
Bank Statement |
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Checks |
Deposits |
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Date |
Number |
Amount |
Date |
Amount |
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11-1 |
2470 |
$ 684.20 |
11-1 |
$ 1,530.20 |
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11-2 |
2471 |
844.50 |
11-4 |
1,211.60 |
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11-5 |
2474 |
1,050.00 |
11-8 |
990.10 |
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11-4 |
2475 |
1,640.70 |
11-13 |
2,575.00 |
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11-8 |
2476 |
2,830.00 |
11-18 |
1,472.70 |
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11-10 |
2477 |
600.00 |
11-21 |
2,945.00 |
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11-15 |
2479 |
1,730.00 |
11-25 |
2,567.30 |
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11-18 |
2480 |
1,330.00 |
11-28 |
1,650.00 |
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11-27 |
2481 |
695.40 |
11-30 |
1,186.00 |
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11-30 |
2483 |
575.50 |
Total |
16,127.90 |
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11-29 |
2486 |
940.00 |
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Total |
$12,920.30 |
The cash records per books for November showed the following.
Cash Payments Journal |
Cash Receipts Journal |
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Date |
Number |
Amount |
Date |
Number |
Amount |
Date |
Amount |
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11-1 |
2475 |
$1,640.70 |
11-20 |
2483 |
$ 575.50 |
11-3 |
$ 1,211.60 |
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11-2 |
2476 |
2,830.00 |
11-22 |
2484 |
827.34 |
11-7 |
990.10 |
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11-2 |
2477 |
600.00 |
11-23 |
2485 |
974.80 |
11-12 |
2,575.00 |
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11-4 |
2478 |
538.20 |
11-24 |
2486 |
940.00 |
11-17 |
1,472.70 |
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11-8 |
2479 |
1,703.00 |
11-29 |
2487 |
398.00 |
11-20 |
2,954.00 |
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11-10 |
2480 |
1,330.00 |
11-30 |
2488 |
800.00 |
11-24 |
2,567.30 |
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11-15 |
2481 |
695.40 |
Total |
$14,464.94 |
11-27 |
1,650.00 |
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11-18 |
2482 |
612.00 |
11-29 |
1,186.00 |
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11-30 |
1,698.89 |
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Total |
$16,305.59 |
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The bank statement contained two bank memoranda:
1. |
A credit of $2,344.40 for the collection of a $2,202.40 note for LaRoche Company plus interest of $157.00 and less a collection fee of $15.00. LaRoche Company has not accrued any interest on the note. |
|
2. |
A debit for the printing of additional company checks $87.16. |
At November 30, the cash balance per books was $11,865.58 and the cash balance per bank statement was $18,227.63. The bank did not make any errors, but LaRoche Company made two errors.