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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P7-4a- laroche company-bank reconciliation statement & journal entries

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