From the Information Below Create a Two-Column Bank Reconciliation for the Month

question 28

Essay

From the information below create a two-column bank reconciliation for the month of November 2008 for the Purinton Corporation.
(a.) Nov 30, 2008 cash balance per book is $35,152.22
(b.) Bank statement balance at Nov 30, 2008 is $32,450.78
(c.) The following checks are outstanding.

(d.) A memo included in the bank statement indicates that Dan Short had a NSF check for $933.
(e.) The bank service charge for the month is $38.
(f.) Cash receipts of $2,300 deposited Nov 30, 2008 were not included in the bank statement.
(g.) A check for $483 was deposited and correctly recorded by the bank but the company incorrectly recorded the deposit for $438 on their books.
(h.) A check for $567 written by another company was incorrectly deducted from the Purinton checking account.

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Definitions:

Cost Method

An accounting method used to value an investment, based on the cost to acquire it, without considering its fair market value changes.

Voting Shares

Shares that grant the holder the right to vote on corporate matters, typically related to company governance.

Bonds Payable

Long-term liabilities on a company's balance sheet, representing the amount owed to bondholders by the issuer.

Straight Line Amortization

A method of allocating an asset's cost evenly over its useful life.