1 Problem 7-9A Preparing a bank reconciliation and recording adjustments LO6 Stewart Recording Studio, owned by Ron Stewart, showed the following bank reconciliation at March 31 Stewart Recording Studio Dank Reconciliation March 1, 2030 $22,000 Book balance $30,505 Bank statement balance Add Deposit of March 1 in transit $31,952 Book Deduct: Outstanding chequest Pant #22 $828 319 Nefences Adjusted bank balance 1, 142 $30,805 Adjusted book balance $10,05 Cash Explanation PR Debit Credit Acct. No. 101 Balance Date 2020 March April 31 Balance 30 30 CR17 71,437 CD13 30,805 102,242 11,391 90.851 A list of deposits made and cheques written during April, taken from the Cash Receipts Journal and Cash Disbursements Journal, is shown below. Deposits Made April 7 13 18 23 $ 689 4,593 5,894 13,583 1 10 Depts Made April 2 13 11 23 27 30 Total April Cat Receipt $ 6 4.593 5.94 13,603 1551 44,621 $73,437 SH 100 Paint 5.5.196 3,145 938 Cheques written 23 24 25 26 27 28 25 30 31 32 Total Apiril Cash Disbursements jos 4,212 4,900 19,547 40,810 411 11,375 590,851 The following bank statement is available for April Bank Statement To: Stewart Recording Studio Cheques/Charges Deposits/Credits 231 04/03 411 04/03 9,952 #28 9,400 04/07 04/07 689 #26 04/13 04/13 4,593 April 30, 2020 Bank of Canada Balance 22,000 31,541 22,80 27.114 os 1 an Statement Deposit/Credits 10 DO 411 9.400 01/03 04/02 300 01/13 Tor Stewart Recording Studio Cheques/Charges 11 04/03 #28 04707 #26 04/13 NSF 04/10 24 06/23 23 04/27 29 04/30 PRT 04/30 INT 04/30 SC 04/30 NSF tot sufficient Funds 04/16 04/23 04/22 04/30 9,952 689 4.59 5,894 1),88 1.75 119,000 April 10, 2020 Fank of Canada Balance 22,600 31,541 22,810 27.114 11,558 29,523 25,145 125,601 109.721 109,331 109,354 INT Interest on Band Loan 14,150 1,148 5.196 19,547 15,30 400 172 SC-Service Charge Door PM Paynent Principal on the loan In reviewing cheques returned by the bank, the bookkeeper discovered that cheque #28 for delivery expense was recorded in the Cash Disbursements Joumal correctly as $4,900. The NSF cheque for $14,150 was that of customer Oprah Winney, deposited in March . On the bank statement, the payment for $15,820 is regarding a note payable . There is also a deposit of $119,000 dated April 30. It is an investment made by the owner into the business (the bank transferred the funds electronically from the owner's personal account to his business account, which is why it was not recorded in the Cash Receipts Journal Required: a. Prepare a bank reconciliation for Stewart Recording Studio at April 30 Required: a. Prepare a bank reconciliation for Stewart Recording Studio at April 30 30 point STEWART RECORDING STUDIO Bank Reconciliation April 30, 2020 Bank Statement Company's Books Bank statemente Add Book balance Add: Berns 0 Deduct Deduct Outstanding ches Adjusted bank balance Adjusted book baie b. Prepare the necessary Journal entiles to bring the General Ledger Cash account into agreement with the adjusted balance on the bank reconcilition 10 View transaction list Journal entry worksheet too Reference Record to reinstate customer account Notenter det before credits General Journal Debit Credit Date Apr 30 Record entry Clear entry View general journal