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
Bank Reconciliation
October 31, 2014

Cash balance per bank

     

$12,762.79

Add: Deposits in transit

     

1,530.20

Less: Outstanding checks

     

14,292.99

Check Number

 

Check Amount

   

2451

 

$ 1,260.40

   

2470

 

684.20

   

2471

 

844.50

   

2472

 

428.96

   

2474

 

1,050.00

 

4,268.06

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

Checks

 

Deposits

Date

 

Number

 

Amount

 

Date

 

Amount

11-1

 

2470

 

$ 684.20

 

11-1

 

$ 1,530.20

11-2

 

2471

 

844.50

 

11-4

 

1,211.60

11-5

 

2474

 

1,050.00

 

11-8

 

990.10

11-4

 

2475

 

1,640.70

 

11-13

 

2,575.00

11-8

 

2476

 

2,830.00

 

11-18

 

1,472.70

11-10

 

2477

 

600.00

 

11-21

 

2,945.00

11-15

 

2479

 

1,730.00

 

11-25

 

2,567.30

11-18

 

2480

 

1,330.00

 

11-28

 

1,650.00

11-27

 

2481

 

695.40

 

11-30

 

1,186.00

11-30

 

2483

 

575.50

 

Total

 

16,127.90

11-29

 

2486

 

940.00

       
   

Total

 

$12,920.30

       


The cash records per books for November showed the following.

Cash Payments Journal

 

Cash Receipts Journal

Date

 

Number

 

Amount

 

Date

 

Number

 

Amount

 

Date

 

Amount

11-1

 

2475

 

$1,640.70

 

11-20

 

2483

 

$ 575.50

 

11-3

 

$ 1,211.60

11-2

 

2476

 

2,830.00

 

11-22

 

2484

 

827.34

 

11-7

 

990.10

11-2

 

2477

 

600.00

 

11-23

 

2485

 

974.80

 

11-12

 

2,575.00

11-4

 

2478

 

538.20

 

11-24

 

2486

 

940.00

 

11-17

 

1,472.70

11-8

 

2479

 

1,703.00

 

11-29

 

2487

 

398.00

 

11-20

 

2,954.00

11-10

 

2480

 

1,330.00

 

11-30

 

2488

 

800.00

 

11-24

 

2,567.30

11-15

 

2481

 

695.40

 

Total

     

$14,464.94

 

11-27

 

1,650.00

11-18

 

2482

 

612.00

             

11-29

 

1,186.00

                       

11-30

 

1,698.89

                       

Total

 

$16,305.59

                               


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.

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