At December 31, the cash balance per books was $13,985.20, and the cash balance per the bank state- ment was $19,239.10. The bank did not make any errors, but Langer Company made two errors. 8-44 CHAPTER 8 Fraud, Internal Control, and Cash a. Adjusted balance per books $16,043.20 Instructions a. Using the steps in the reconciliation procedure described in the chapter, prepare a bank reconcilia- tion at December 31, 2020. b. Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors per- taining to recording checks should be made to Accounts Payable. The correction of any errors relat- ing to recording cash receipts should be made to Accounts Receivable.)
At December 31, the cash balance per books was $13,985.20, and the cash balance per the bank state- ment was $19,239.10. The bank did not make any errors, but Langer Company made two errors. 8-44 CHAPTER 8 Fraud, Internal Control, and Cash a. Adjusted balance per books $16,043.20 Instructions a. Using the steps in the reconciliation procedure described in the chapter, prepare a bank reconcilia- tion at December 31, 2020. b. Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors per- taining to recording checks should be made to Accounts Payable. The correction of any errors relat- ing to recording cash receipts should be made to Accounts Receivable.)
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.4E
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