Based on the following information, prepare the bank reconciliation for Cougar Corp. as of December 31. A. On December 31, Cougar Corp. general ledger showed a cash balance of $26,504. The company's bank statement showed an ending balance of $24,575. B. A deposit on December 31 for $2,500 was not recorded by the bank until January 1. C. A check for $550 received from one of Cougar's customers was noted as NSF by the bank. D. A review of the company's deposits shows that a deposit entered in the company's general ledger for $5400 was actually a deposit for $4500. E. The company's checking account shows interest of $21. F. Cougar's bank statement shows an EFT received from a customer for $1,700. G. The following information related to outstanding checks was prepared.

Answer and Explanation:

The Preparation of bank reconciliation for Cougar Corp. as of December 31 is shown below:-

                                         Cougar Corp.

                                    Bank reconciliation

                          For the year ended December 31

Particulars                                                Amount

Bank balance Dec 31                            $24,575

Add: Deposit in transit                            $2,500

Less:

Outstanding checks #302          ($180)

Outstanding checks #303          ($95)

Outstanding checks #304          ($25)     ($300)

Bank balance adjusted                             $26,775

Cash balance on 31 Dec                             $26,504

Add: EFT from customer             $1,700

Add: Interest income                   $21            $1,721

Less: Posting error

($5,400 - $4,500)                         $900

Less: NSF check                            $500     $1,400

Book balance adjusted                               $26,775

Hence, the bank balance and the book balance are matched

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.

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