An examination of the cash activities during the year shows the following. Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Check# Desc. Stock sale $ 20,eee 7/1 101 Insurance Clinic receipts 2,809 7/2 102 Legal fees Clinic receipts 2,309 7/7 DC Advertising Clinic receipts 4,898 7/8 103 Bikes Borrowing 22,809 7/24 DC Advertising Clinic receipts 3, eee 8/4 184 Kayaks Clinic receipts 10,508 8/24 DC office supplies Clinic receipts 12,400 9/1 Rent Clinic receipts 17,109 12/8 106 Race permit Race receipts 20, Bee 12/16 197 Salary 12/31 108 Dividend 12/31 199 Dividend $113,308 Amount $ 3,840 1,100 22e 11,200 620 16,800 1,720 1,440 1,129 2, eee 2,800 2, eee $44,060 ht les nces Summary of Transactions Beginning Cash Balance July 1, 2021 $ @ Cash Receipts $113,300 Cash Disbursements = $44,860 Ending Cash Balance December 31, 2021 $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 Member FDIC Leading You to the Top Account Holder: Great Adventures, Inc. Account Number: 1124537774 Statement Date: Dec. 31, 2021 Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 Ending Balance No Total No Total December 31, 2021 $e $93, Bee 11 $38,260 $55, 540 Account Details Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc. Date Amount Desc. Date Amount 7/1 $ 20,eee DEP 7/1 181 $ 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, eee DEP 7/7 22e DC 7/14 9/1 3,640 13,500 DEP 7/14 183 11,209 CHK 7/24 3,02e 9/30 200 INT 7/24 629 DC 8/1 33,320 10/1 12,400 DEP 8/9 184 16,800 CHK 8/9 16, 520 11/1 17,100 DEP 8/24 1,720 DC 8/24 14, see 12/31 300 9/2 105 1,440 CHK 9/1 28,300 9/30 100 SF 9/2 26,860 12/10 186 1,120 CHK 9/30 26,96 12/31 100 SF 10/1 39,360 11/1 56,460 12/1e 55,340 $ 93,800 $38,260 12/31 $55, 540 No. INT SF Service fees Desc. DEP Customer deposit CHK Customer check INT Interest earned 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. 14 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. 5 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 reconcillation.) points GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Company's Cash Balance Per General Ledger Bank's Cash Balance Per Bank Statement Print References 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 fleld. Total entries to the same account together when entering in the journal entry carousel.) View transaction list Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. General Journal Debit Credit Date Dec. 31, 2021 Record entry Clear entry View general journal Graw Prou
