EX 8-22 Bank reconciliation
Identify the errors in the following bank reconciliation:
| Alma Co. | |||
| Bank Reconciliation | |||
| For the Month Ended November 30, 2012 | |||
| Cash balance according to bank statement | $12,090 | ||
| Add outstanding checks: | |||
| No. 915 | $850 | ||
| 960 | 615 | ||
| 964 | 850 | ||
| 965 | 775 | 3,090 | |
| $15,180 | |||
| Deduct deposit of November 30, not recorded by bank | 4,000 | ||
| Adjusted balance | $11,180 | ||
| Cash balance according to company’s records | $4,430 | ||
| Add: Proceeds of note collected by bank: | |||
| Principal | $5,000 | ||
| Interest | 200 | $5,200 | |
| Service charges | 30 | 5,230 | |
| $9,660 | |||
| Deduct: Check returned because of insufficient funds | $1,100 | ||
| Error in recording November 23 deposit of $6,100 as $1,600 | 4,500 | 5,600 | |
| Adjusted balance | $4,060 |
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