Problem 84A NEED FULL ANSWER PLEASE The bank portion of the

Problem 8-4A

NEED FULL ANSWER PLEASE

The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows.

The bank statement contained two memoranda:

At December 31, the cash balance per books was $14,525.20, and the cash balance per the bank statement was $22,237.00. The bank did not make any errors, but two errors were made by Langer Company.

Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Round answers to 2 decimal places, e.g. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.)

1.		A credit of $5,285 for the collection of a $5,140 note for Langer Company plus interest of $160.00 and less a collection fee of $15.00. Langer Company has not accrued any interest on the note.
2.		A debit of $580.10 for an NSF check written by L. Rees, a customer. At December 31, the check had not been redeposited in the bank.

Problem 8-4A The bank portion of the bank reconciliation for Langer Company at November 30, 2017, was as follows LANGER COMPANY Bank Reconciliation November 30, 2017 $14,807.90 2,530.20 17,338.10 Cash balance per bank Add: Deposits in transit Less: Outstanding checks Check Amount Check Number 3451 3470 3471 3472 3474 2,260.40 720.10 844.50 1,426.80 1,057.30 6,309.10 Adjusted cash balance per bank $11,029.00 The adjusted cash balance per bank agreed with the cash balance per books at November 30 The December bank statement showed the following checks and deposits

Solution

Langer company Ccash balance per bank statement 22,237.00 Add Deposits in transit 1,690.40 23,927.40 less: outstanding checks no 3,470 720.1 no 3474 1,057.30 no 3478 621.3 no 3481 807.4 no 3484 790.7 no 3486 889.5 4,886.30 Adjusted cash balance per bank 19,041.10 Cash balance per books 14,525.20 Add: Note collected in bank 5,285 19,810.20 less NSF Check 580.1 Error in recording check(3485) 180 Error in deposit 9 769.1 Adjusted cash balance per books 19,041.10 Journal entries no Account titles and explanations Debit Credit 1) Cash 5,285 Miscellaneous expense 15 Note receivable 5,140 interest revenue 160 2) Accounts receivabke 580.1 cash 580.1 3) Accounts payable 180 cash 180 4) Accounts receivable 9 cash 9