Solved: The following is information for Dundee Realty a

Balance per the

The following is information for Dundee Realty a Balance per the

The following is information for Dundee Realty:

a. Balance per the bank statement dated October 31, 2014, is $26,830.

b. Balance of the Cash account on the company books as of October 31, 2014, is $5,575.

c. $14,680 of customer deposits were outstanding as of September 30; this amount had been
deposited to Dundee's account in October.

d. Cheques written in October that had not cleared the bank as of October 31 were:

#8700................................ $985

#8709 ........................... $12,600

#8801............................... $620

#8815............................... $145

e. The bank charged Dundee's account for a $2,350 cheque of the E-Zone Networks; the
cheque was found among the cancelled cheques returned with the bank statement.

f. Bank service charges for October amount to $65.

g. A customer's cheque (Teresa Krant) for $7,050 had been deposited in the bank correctly but
was recorded in the accounting records as $7,500.

h. Among the cancelled cheques is one for $260 given in payment of an account payable to
Decker Company; the bookkeeper had recorded the cheque incorrectly at $620 in the company
records.

i. The bank had collected a $22,000 note plus interest of $880. A fee of $50 was charged for
this service.

j. A bank deposit of October 31 for $13,420 does not appear on the bank statement.

Required

1. Prepare a bank reconciliation statement as of October 31, 2014.

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 2. Prepare the necessary entries to make the Cash account agree with the bank reconciliation
adjusted Cash balance as of October 31.

Analysis Component: Identify the effects on the income statement and balance sheet if the
entries in Part 2 were not recorded.

The following is information for Dundee Realty a Balance per the

ANSWER
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