39. Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to increases cash. 40 Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to decreases cash. 41. Our CPA has informed us to estimate that 1.00% of Computer & Consulting Revenue will be uncollectable. 42. Income taxes are to be computed at the rate of 25 percent of net income before taxes. [IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement.]Check # 306 is not our check Our policy is to charge the customer for any charges related to NSF checks "he Deposit on Jun 16 was incorrectly recorded by the bank. 'he Deposit on Jun 23 was correctly recorded by the bank. We do not modify the original journal entry. Company's Books Bank Statement Ending Balance per books 1517,0609? Ending balance per bank 156,060.00 Additions Additions '1. Add to Books Total 2. Add to Bank Total Deductions Deductions 3. Deduct from Books 4. Deduct from bank Ending Correct cash balance Ending Correct cash balance PublicBank Byte of Accounting P.O. Box 5551212, Miami, Florida 33999 123 Speed Lane Ph # (305) 555-1212 Miami, Florida 33999 Previous Balance Account Number 33999999 Deposits/Credits Statement Date 6/30/200x Checks/Debits Ending Balance Activity in date order Date Description Amount Balance 29,000.00 -22,250.00 Complete JE 11 -7,200.00 3,955.00 -800.00 -320.00 -275.00 -1,010.00Number Name Normal Balance 1110 Cash Debit 1120 Accounts Receivable Debit 1121 Allowance for Doubtful Accounts Credit 1130 Prepaid Insurance Debit 1140 Prepaid Rent Debit 1150 Office Supplies Debit 1211 Office Equip. Debit 1212 Accum. Depr.-Office Equip. Credit 1311 Computer Equip. Debit 1312 Accum. Depr.-Computer Equip. Credit 1411 Building Debit 1412 Accum. Depr.-Building Credit 1510 Land Debit 2101 Accounts Payable Credit 2102 Advanced Payments Credit 2103 Interest Payable Credit 2105 Salaries Payable Credit 2106 Income Taxes Payable Credit 2201 Mortgage Payable Credit 2202 Notes Payable Credit 3100 Capital Stock Credit 3110 Paid-in Capital in Excess of Par Value Credit 3200 Retained Earnings Credit 3300 Dividends Debit 3400 Income Summary Credit 4100 Computer & Consulting Revenue Credit 5010 Rent Expense Debit 5020 Salary Expense Debit 5030 Advertising Expense Debit 5040 Repairs & Maint. Expense Debit 5050 Oil & Gas Expense Debit 5080 Supplies Expense Debit 5090 Interest Expense Debit 5100 Insurance Expense Debit 5110 Depreciation Expense Debit 5120 Bad Debt Expense Debit 5130 Bank Expense Debit 5140 Telephone Expense Debit 5150 Income Tax Expense Debit39 Jun 30 40 Jun 30 41 Jun 30 5120 Bad Debt Expense 41 Jun 30 Uncollectable Revenue 1121 Allowance for Doubtful AUncollectable Revenue 42 Jun 30
