$1.$ Prepare a bank reconciliation for Summer

Corp.

Balance per Summer Company books $$500,000$

Balance per Citi bank $$510,000$

Reconciling items

Outstanding Checks $$40,000$

Nonsufficient funds Check $$10,000$

Deposits in transit $$19,000$

Bank Fees $$1,000$

$2.$ Gemma's Gowns sells gowns in Tampa,

Florida. Gemma's uses the perpetual

inventory system.

Required: Record the following transactions in

the Journal.

$7-1$: Gemma's Gowns purchased a gown for

$$40,000$ on account from Vera Wang. The

payment terms are $\frac{2}{10}\frac{?}{?}\frac{N}{30}.$ The delivery

terms are FOB shipping point.

$7-2$: Gemma's pays the delivery charges in

cash, $$2,000.$

$7-7$: Gemma's Gowns pays the accounts

payable in cash.

$7-15$: Winter Washington purchases the gown

for $$60,000$ cash.

$3.$ The Autumn Company began business on

January $1,2024.$ It calculates uncollectible

accounts receivable using the percent of accounts

receivable method.

Required: Record the entries to account for

Accounts Receivable.

$12-31-24$: Autumn Company has a balance of

$$900,000$ in accounts receivable and estimates

$10\%$ uncollectible.

$7-10-25$: Autumn Company writes off Rose's

accounts receivable of $$97,000.$ This accounts

receivable was outstanding on $12-31-24.$

$12-31-25$: Autumn has a balance of $$800,000$ in

accounts receivable and estimates $10\%$

uncollectible.

$4.$Hallie's Hats uses the Periodic Inventory System.

Summer's Skirts made the following purchases during the

year:

$400,000$ units were sold during the year, and $50,000$ remained

in the Ending inventory.

Required: Calculate the Cost of Goods Sold and Ending

Inventory under the First$-$in$-$First$-$out Method, The

Last$-$in$-$First$-$out Method, and the Weighted Average Method.

Do it on Excel