Author Question: Prepare Gloria's Glassware's November bank reconciliation. Below is a list of items that will be ... (Read 31 times)

tfester · **on:** Jul 5, 2018

Prepare Gloria's Glassware's November bank reconciliation. Below is a list of items that will be included in the reconciliation. The balance on the bank statement was 12,575. The cash balance for Gloria's Glassware was 11,483.

a. Gloria's Glassware correctly deposited a check for 87. The bank recorded the check for 78.
b. Gloria's Glassware incorrectly recorded a deposit as 143. The bank correctly recorded the check for 134.
c. Bank service charges for the month were 45.
d. 1,555 worth of checks was outstanding.
e. A deposit of 400 was mailed to the bank, but has not been recorded by the bank.

Gloria's Glassware
Bank Reconciliation
November 30, 2012

Bank Balance 12,575 Book Balance 11,483
Add: Add:

Deduct: Deduct:

Question 2

A control goal that is a measure of success in meeting a set of established goals is called:
a. effectiveness
b. monitoring
c. efficiency
d. risk

mirabriestensky · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

Gloria's Glassware
Bank Reconciliation
November 30, 2012

Bank Balance 12,575 Book Balance 11,483
Add: Add:
Deposits in transit 400
Bank error 9
Deduct: Deduct:
Outstanding checks (1,555) Bank service charge (45)
Recording error (9)
11,429 Adjusted balance 11,429

Answer to Question 2

A