Bank reconciliation Prepare a bank reconciliation as of October 31 from the following information:

a.       The October 31 cash balance in the general ledger is $844.

b.      The October 31 balance shown on the bank statement is $373.

c.       Checks issued but not returned with the bank statement were No. 462 for

$13 and No. 483 for $50.

d.      A deposit made late on October 31 for $450 is included in the general ledger balance but not in the bank statement balance.

e.       Returned with the bank statement was a notice that a customer’s check for

$75 that was deposited on October 25 had been returned because the customer’s account was overdrawn.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

f.        During a review of the checks that were returned with the bank statement, it was noted that the amount of Check No. 471 was $65 but that in the company’s records supporting the general ledger balance, the check had

been erroneously recorded as a payment of an account payable in the amount of $56.