1 Bank Reconciliation You are an accountant at XYZ Company. After reviewing the company's financial records for the month of September 2023, you noticed several discrepancies between the company's records and the bank statement. Your task is to prepare a bank reconciliation statement to identify the reasons behind these differences. Utilize the following information for your analysis: 1. The company's records indicate a cash balance of $15,000 as of September 30, 2023. 2. The bank statement shows a balance of $13,500 on September 30, 2023. 3. A deposit of $2,000 made on September 28, 2023, does not appear in the bank statement. 4. The company has outstanding checks written to pay their suppliers totaling $3,000 which have not yet been processed by the bank. 5. The bank statement includes a service charge of $50. 6. A customer's check for $500 was returned due to insufficient funds, and it has not been recorded in the company's books. Prepare a bank reconciliation statement as of September 30, 2023, to determine the adjusted cash balance. Provide explanations for each item, including any necessary journal entries to rectify the discrepancies. 2 Depreciation Calculation You have been tasked with calculating the depreciation for a new piece of machinery purchased by ABC Company. The machinery was purchased for $50,000, has an estimated useful life of 5 years, and an estimated salvage value of $5,000. Calculate the depreciation for each of the following methods: straight- line method, double-declining balance method, and units-of-production method. Straight-Line Method: Calculate the annual depreciation expense using the straight-line method. Double-Declining Balance Method: Determine the annual depreciation using the double-declining balance method. Units-of-Production Method: Compute the depreciation expense for each year using the units-of- production method, assuming the following production units: Year 1: 10,000 units, Year 2: 12,000 units, Year 3: 8,000 units, Year 4: 11,000 units, Year 5: 9,000 units. Provide the depreciation expense for each method for all five years. Page 2 of 3

3 Inventory Record Card You are working as an accountant at ABC Retail Store, and your task is to create an inventory record card for "Product B" using the weighted average cost method. Use the following information to construct the inventory record card: Initial Inventory: 50 units at $40 per unit Transactions during the month: November 1: Purchased 100 units at $45 per unit November 10: Sold 80 units of Product B November 15: Purchased 120 units at $50 per unit November 25: Sold 100 units of Product B Create the inventory record card for Product B, incorporating columns for date, transaction, quantity, cost per unit, total cost, balance, and weighted average cost per unit. Calculate the weighted average cost per unit after each transaction. Determine the cost of goods sold and ending inventory using the weighted average cost method for the month of November.