Accounting Chapter 4 Bank Reconcilation with accounting sheets and Brief excercies

Journal entry worksheet Record the amounts that increase cash. lote: Enter debits before credits. Indicated with a minus sign.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits. rief Exercise 4-7 (Static) Identify terms associated with a bank reconciliation (LO4-5) elect the appropriate term associated with a bank reconciliation for each of the following descriptions. Problem 4-2A (Static) Prepare the bank reconciliation and record cash adjustments (LO4-5) Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank depos only once per week. The following provides information from the company's cash ledger for the month ending February 28,2024 Information from February's bank statement and company records reveals the following additional information: Exercise 4-9 (Algo) Calculate the balance of cash using a bank reconciliation (LO4-5) Jackman Compuny's general ledger shows a cash account balance of \$23,250 on July 31, 2024. Cash sales of \$1,793 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $47 and an NSF check from a customer of \$270. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling \$1,380. The bank statement shows a balance of $22,520 on July 31 Required: 1. Prepare a bank reconciliation to calculate the correct balance of casti on july 31,2024 2. Record the necessary entrylies) to adjust the batance for cash. Complete this question by entering your answers in the tabs below. with a minus sign. Total entries to the same account together when entering in the bank reconclilation.) Required 2 Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $13,145 b. Cash receipts of $1,600 from 2/262/28 are outstanding. c. Checks 325 and 327 are outstanding. d. The deposit on 2/11 includes a customer's check for $200 that did not clear the bank (NSF check). e. Check 323 was written for $2,800 for advertising in February. The bank properly recorded the check for this amount. f. An EFT withdrawal for Oscar's February rent was made on February 4 for $1,100. g. Debit card transactions include $4,700 for legal fees expense and $400 for entertainment expense. h. In January, one of Oscar's suppliers. Titanic Fabrics, borrowed $6,000 from Oscar. On February 24, Titanic paid $6,270 (\$6,000 borrowed amount plus $270 interest) directly to Academy Bank in payment for January's bortowing 1. Academy Bank charged service fees of $125 to Oscar's for the month. Required: 1. Prepare a bank reconciliation for Oscar's checking account on February 28, 2024. 2. Record the necessary cast adjustments. Complete this question by entering your answers in the tabs below. Record the necessary cash adjustments. (If no entry lis required for a transaction/event, select "No Journal Entry Required" in the first account fleld Journal entry worksheet Note: Enter debits before credits. Required: Select whether the answer to each of the statements is true or false. Brief Exercise 4-4 (Static) Identify cash and cash equivalents (LO4-3) Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Journal entry worksneet Record the amounts that increase cash. Note: Enter debits before credits. Journal entry worksneet Note: Enter debits before credits. Problem 4-2A (Algo) Prepare the bank reconciliation and record cash adjustments (LO4-5) Wilbur's Red Carpet Store maintains a checking account with Academy Bank. Wibur's sells carpet each day but makes bank deposit only once per week. The following provides information from the company's cash ledger for the month ending February 28,2024 Information from February's bank statement and company records reveals the following additional information: Journal entry worksheet Note: Enter debits before credits. Problem 4-3A (Static) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Description DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to checks number 469 and number 470 , which are outstanding as of April 30, 2024 (prior month). b. The bank made the EFT on May 20 in error. The bank accidentally charged Diaz for payment that should have been made on another account. Required: 1. Prepare a bank reconciliation for Diaz's checking account on May 31, 2024. 2. Record the necessary cash adjustments. Complete this question by entering your answers in the tabs below. Record the necessary cash adjustments. (Ifmo entry is required for a transaction/event, select "No Joumal Entry Required" in the first account fleld. Total entries to the same account together when entering in the fournal entry carouset.) Journal entry worksheet Record the amounts that decrease cash. Note: Enter debirs before eredits Description DEP Customer deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card a. The difference in the beginning balances in the company's fecords and the bank statement relates to checks number 469 and number 470 , which are outstanding as of April 30,2024 (prior month). b. The bank made the EFT on May 20 in ertoc. The bank accidentally chacged Daniels for payment that should have been made on another account. Required: 1. Prepare a bank reconciliation for Daniels's checking account on May 31, 2024 2. Record the necessary cash adjustments Complete this question by entering your answers in the tabs below. Record the necessary cath adjustments. (If ho entry is fequired for a transaction/event, select "No journal Entry Required" in the first. account field. Total entries to the same account together when entering in the foumal entry carousel.) Problem 4-3A (Algo) Prepare the bank reconciliation and record cash adjustments (LO4-5) The cash records and bank statement for the month of May for Daniels Entertainment are shown below. Journal entry worksheet Note: Enter debits before credits. Exercise 4-2 (Static) Answer true-or-false questions about the Sarbanes-Oxley Act (LO4-1) Below are several statements about the Sarbanes-Oxley Act (SOX). Required: Select whether the answer to each of the statements is true or false. indicated with a minus sign.) Description DEP Custombr deposit INT Interest earned SF Service fees NOTE Note collected CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer DC Debit card Journal entry worksheet Note: Enter debits before credits. a. The ending cash balance recorded in the bank statement is $8,990. b. Cash receipts of $1,000 from 2/262/28 are outstanding. c. Checks 325 and 327 are outstanding d. The deposit on 2/11 includes a customer's check for $400 that did not clear the bank (NSF check). e. Check 323 was written for $2,500 for advertising in February. The bank properly recorded the check for this amount. f. An EFT withdrawal for Wilbur's February rent was made on February 4 for $1,200 g. Debit card transactions include $4,820 for legal fees expense and $550 for entertainmint expense. h. In January, one of Wilbur's suppliers, Titanic Fabrics, borrowed $4,800 from Wilbur. On February 24 , Titanic paid $5,000 ( $4,800 borrowed amount plus $200 interest) directly to Academy Bank in payment for January's borrowing. 1. Academy Bank charged service fees of $140 to Wilbur's for the month. Required: 1. Prepare a bank reconciliation for Wilbur's checking account on February 28,2024. 2. Record the necessary cash adjustments