An examination of the cash activities during the year shows the following GREAT ADVENTURES July 1, 2021, to December 31, 2021 Cash Account Records Cash Receipts 7/1 Date Desc. Stock sale Cash Disbursements Amount Date Check# Desc. $ 20,000 7/1 Amount 101 Insurance $ 3,840 7/15 5 Clinic 2,000 7/2 receipts 102 Legal fees 1,100 Clinic 7/22 2,300 7/7 DC receipts Advertising 220 Clinic 7/30 4,000 7/8 103 Bikes 11,200 receipts 8/1 Borrowing 22,000 7/24 DC Advertising 620 Clinic 8/10 3,000 8/4 104 Kayaks 16,800 receipts Clinic 8/17 Office receipts 10,500 8/24 DC supplies 1,720 Clinic 9/21 receipts 12,400 9/1 105 Rent 1,440 Clinic 10/17 receipts 17,100 12/8 106 Race permit 1,120 12/15 Race receipts 20,000 12/16 107 Salary 2,000 12/31 108 12/31 109 Dividend Dividend 2,000 2,000 $113,300 $44,060 Beginning Cash Balance July 1, 2021 $ 0 Summary of Transactions Ending Cash Balance Cash Cash December 31, + Receipts - Disbursements 2021 $113,300 $44,060 $69,240 Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month. SUMMIT BANK Leading You to the Top Account Holder: Great Adventures, Inc. Member FDIC Account Number: Statement Date: 1124537774 Dec. 31, 2021 Account Summary Beginning Balance Deposits and Credits July 1, 2021 $0 No 8 Total $93,800 No Total 11 $38,260 Withdrawals and Debits Ending Balance December 31, 2021 $55,548 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 7/1 $20,000 DEP 7/1 101 $3,840 CHK 7/1 $16,160 8/1 8,300 DEP 7/7 102 1,100 CHK 7/7 14,840 8/1 22,000 DEP 7/7 220 DC 7/14 3,640 9/1 13,500 DEP 7/14 103 11,200 CHK 7/24 3,020 9/29 200 TNT 7/24 670 Dr 8/1 Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month. SUMMIT BANK Leading You to the Top Account Holder: Great Adventures, Inc. Member FDIC Account Number: Statement Date: 1124537774 Dec. 31, 2021 Account Summary Beginning Withdrawals and Balance Deposits and Credits Debits July 1, 2021 No Total No $0 8 $93,800 11 Total $38,260 Account Details Deposits and Credits Withdrawals and Debits Ending Balance December 31, 2021 $55,540 Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 7/1 $20,000 DEP 7/1 101 $3,840 CHK 7/1 $16,160 8/1 8,300 DEP 7/7 102 1,100 CHK 7/7 14,840 8/1 22,000 DEP 7/7 220 DC 7/14 3,640 9/1 13,500 DEP 7/14 103 11,200 CHK 7/24 3,020 9/30 200 INT 7/24 620 DC 8/1 33,320 10/1 12,400 DEP 8/9 104 16,800 CHK 8/9 16,520 11/1 17,100 DEP 8/24 1,720 DC 8/24 14,800 12/31 300 INT 9/2 105 1,440 CHK 9/1 28,300 9/30 100 SF 9/2 26,860 12/10 106 1,120 CHK 9/30 26,960 12/31 100 SF 10/1 39,360 11/1 56,460 12/10 55,340 $93,800 $38,260 12/31 $55,540 INT Interest earned SF Service ervide fees Desc. DEP Customer deposit CHK Customer check DC Debit card After comparing the two balances, Suzie has some concern because the bank's balance of $55,540 is substantially less than the company's balance of $69,240. 2-a. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Bank's Cash Balance Per Bank Statement Company's Cash Balance Per General Ledger Bank Balance Per Reconciliation Company Balance Per Reconciliation check After comparing the two balances, Suzie has some concern because the bank's balance of $55,540 is substantially less than the company's balance of $69,240. 2-a. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.) GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Company's Cash Balance Per General Ledger Bank's Cash Balance Per Bank Statement Bank Balance Per Reconciliation Company Balance Per Reconciliation 2-b. Record any necessary entries to adjust cash. (If no entry is required 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 journal entry carousel.) View transaction list Journal entry worksheet < 1 2 Record the amounts that increase cash. Note: Enter debits before credits. Date Dec. 31, 2021 General Journal Debit Credit Record entry View general journal Clear entry