An examination of the cash activities during the year shows the following. Check# Desc. Amount $ 3,600 1,000 200 11,000 DC GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Stock sale $ 30,000 7/1 101 Insurance Clinic receipts 1,809 7/2 102 Legal fees Clinic receipts 2,760 7/7 Advertising Clinic receipts 3,600 7/8 Bikes Borrowing 20,000 7/24 Advertising clinic receipts 5,100 8/4 Kayaks Clinic receipts 11,900 8/24 Office supplies Clinic receipts 12,200 9/1 Rent clinic receipts 16,900 12/8 Race permit Race receipts 30,000 12/16 Salary 12/31 Dividend 12/31 Dividend $134,260 Date 7/1 7/15 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 600 14,000 1,700 1,200 1,100 2,000 3,000 3,000 $42,400 Summary of Transactions Beginning Cash Balance July 1, 2021 $ 0 Ending Cash Balance December 31, 2021 $91,860 + - Cash Disbursements = $42,400 $134,260 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 1124537774 Dec. 31. 2021 Ending Balance December 31, 2021 $70.ece 50 SUNVIT BANK Leading You to the Top Account Holdert Great Adventures, Inc. Account Number: Statement Date: Account Summary Beginning Balance Deposits and Credits withdrawals and Debits July 1, 2021 Total Total $104,560 Account Details Deposits and Credits withdrawals and Debits Date Asunt Desc. Date Amount 30,000 DEP 7/1 101 $ 3,600 8/1 8,160 DEP 102 20,000 DEP 7/7 200 17,000 7/14 11.000 9/30 100 INT 7/24 600 10/1 12,200 DEP 8/9 14.000 11/1 16,900 DEP 8/24 1.200 12/31 200 9/2 1.200 9/30 12/10 1. 100 12/31 7/1 CHE 7/7 1.000 CHK DC 8/1 9/1 DEP 103 $$$$$ Daily Balance Date Amount $26,400 25,200 7/14 14,200 7/24 13.00 8/1 41.750 8/9 27,760 8/24 26.060 9/1 4 . 41,860 9/30 41,910 10/1 54.112 11/1 71,010 12/10 12/31 $20,6 INT 9/2 $34,500 $104,560 SF Service fees Dese. 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 $70,060 is substantially less than the company's balance of $91,860. 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.) * Answer is not complete. GREAT ADVENTURES, INC. Bank Reconciliation December 31, 2021 Company's Cash Balance 70,060 Per General Ledger Interest Earned Service Fee Bank's Cash Balance Per Bank Statement Checks Outstanding Deposits Outstanding 91,860 300 (100) Bank Balance Per Reconciliation $ 92,060 Company Balance Per Reconciliation 92,060 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.) * Answer is not complete. No Date General Journal Debit Credit Dec 31, 2021 Cash 2 Dec 31, 2021 No Transaction Recorded
