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An examination of the cash activities during the year shows the following. Suzie has not reconciled the company's cash balance with that of the bank

An examination of the cash activities during the year shows the following.
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.An examination of the cash activities during the year shows the following.
GREAT ADVENTURES
Cash Account Records
July 1,2024, to December 31,2024
Cash Receipts Cash Disbursements
Date Description Amount Date Check number Description Amount
7/1 Stock sale $30,0007/1101 Insurance $5,040
7/15 Clinic receipts 1,8007/2102 Legal fees 1,600
7/22 Clinic receipts 2,7607/7 DC Advertising 320
7/30 Clinic receipts 3,6007/8103 Bikes 12,200
8/1 Borrowing 32,0007/24 DC Advertising 720
8/10 Clinic receipts 5,1008/4104 Kayaks 30,800
8/17 Clinic receipts 11,9008/24 DC Office supplies 1,820
9/21 Clinic receipts 13,4009/1105 Rent 2,640
10/17 Clinic receipts 18,10012/8106 Race permit 1,220
12/15 Race receipts 30,00012/16107 Salary 2,000
12/31108 Dividend 3,000
12/31109 Dividend 3,000
$148,660 $64,360
Summary of Transactions
Beginning Cash Balance July 1,2024+ Cash Receipts Cash Disbursements = Ending Cash Balance December 31,2024
$0 $148,660 $64,360 $84,300
Suzie has not reconciled the companys 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 Member FDIC
Account Holder: Great Adventures, Incorporated Account Number: 1124537774
Statement Date: December 31,2024
Account Summary
Beginning Balance
July 1,2024 Deposits and Credits Withdrawals and Debits Ending Balance December 31,2024
Number Total Number Total
$08 $118,96011 $56,460 $62,500
Account Details
Deposits and Credits Withdrawals and Debits Daily Balance
Date Amount Description Date Number Amount Description Date Amount
7/1 $30,000 DEP 7/1101 $5,040 CHK 7/1 $24,960
8/18,160 DEP 7/71021,600 CHK 7/723,040
8/132,000 DEP 7/7320 DC 7/1410,840
9/117,000 DEP 7/1410312,200 CHK 7/2410,120
9/30100 INT 7/24720 DC 8/150,280
10/113,400 DEP 8/910430,800 CHK 8/919,480
11/118,100 DEP 8/241,820 DC 8/2417,660
12/31200 INT 9/21052,640 CHK 9/134,660
9/3050 SF 9/232,020
12/101061,220 CHK 9/3032,070
12/3150 SF 10/145,470
11/163,570
12/1062,350
$118,960 $56,46012/31 $62,500
Description DEP Customer deposit INT Interest earned SF Service fees
CHK Customer check DC Debit card
After comparing the two balances, Suzie has some concern because the banks balance of $62,500 is substantially less than the companys balance of $84,300.
Required:
2-a. Prepare Great Adventures bank reconciliation for the six-month period ended December 31,2024.
2-b. Record any necessary entries to adjust cash.
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