An examination of the cash activities during the year shows the following.

GREAT ADVENTURES Cash Account Records July 1, 2015, to December 31, 2015
Deposits				Checks/Debit Cards
Date	Desc.	Amount		Date	No.	Desc.	Amount
7/1	Stock sale	$	20,000	7/1	101	Insurance	$	5,160
7/15	Clinic receipts		2,000	7/2	102	Legal fees		1,650
7/22	Clinic receipts		2,300	7/7	DC	Advertising		330
7/30	Clinic receipts		4,000	7/8	103	Bikes		11,500
8/1	Borrowing		33,000	7/24	DC	Advertising		730
8/10	Clinic receipts		3,000	8/4	104	Kayaks		32,200
8/17	Clinic receipts		10,500	8/24	DC	Office supplies		1,830
9/21	Clinic receipts		13,500	9/1	105	Rent		2,760
10/17	Clinic receipts		18,200	12/8	106	Race permit		1,230
12/15	Race receipts		20,000	12/16	107	Salary		2,000
				12/31	108	Dividend		2,000
				12/31	109	Dividend		2,000
			________					_______
		$	126,500				$	63,390

Summary of Transactions

Beginning Cash Balance July 1, 2015	+	Deposits		Checks	=	Ending Cash Balance December 31, 2015
$0		$126,500		$63,390		$63,110

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, Inc.				Account Number: Statement Date:		1124537774 Dec. 31, 2015
Account Summary
Beginning Balance			Deposits and Credits				Withdraws and Debits		Ending Balance
July 1, 2015			No Total				No Total		December 31, 2015
$0			8		$107,000		11	$57,590	$49,410
Account Details
Deposits and Credits				Withdraws and Debits					Daily Balance
Date	Amount		Desc.	Date	No.	Amount		Desc.	Date	Amount
7/1	$	20,000	DEP	7/1	101	$	5,160	CHK	7/1	$	14,840
8/1		8,300	DEP	7/7	102		1,650	CHK	7/7		12,860
8/1		33,000	DEP	7/7			330	DC	7/14		1,360
9/1		13,500	DEP	7/14	103		11,500	CHK	7/24		630
9/30		200	INT	7/24			730	DC	8/1		41,930
10/1		13,500	DEP	8/9	104		32,200	CHK	8/9		9,730
11/1		18,200	DEP	8/24			1,830	DC	8/24		7,900
12/31		300	INT	9/2	105		2,760	CHK	9/1		21,400
				9/30			100	SF	9/2		18,640
				12/10	106		1,230	CHK	9/30		18,740
				12/31			100	SF	10/1		32,240
									11/1		50,440
									12/10		49,210
		_________					________				_______
	$	107,000				$	57,590		12/31	$	49,410

Desc.	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 $49,410 is substantially less than the companys balance of $63,110.

1) Prepare Great Adventures bank reconciliation for the six-month period ended December 31, 2015.

GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2015

Bank's Cash Balance	Company's Cash Balance
Per bank statement	Per general ledger
Deposits outstanding	Interest earned
Checks outstanding	Service fee
Bank balance per reconciliation	Company balance per reconciliation

2) Record any necessary entries to adjust cash.