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

GREAT ADVENTURES
Cash Account Records
July 1, 2021, to December 31, 2021
Cash Receipts					Cash Disbursements
Date	Desc.	Amount			Date	Check#	Desc.	Amount
7/1	Stock sale	$	25,000		7/1	101	Insurance	$	4,440
7/15	Clinic receipts		2,000		7/2	102	Legal fees		1,350
7/22	Clinic receipts		1,840		7/7	DC	Advertising		270
7/30	Clinic receipts		5,500		7/8	103	Bikes		11,700
8/1	Borrowing		27,000		7/24	DC	Advertising		670
8/10	Clinic receipts		4,000		8/4	104	Kayaks		23,800
8/17	Clinic receipts		11,200		8/24	DC	Office supplies		1,770
9/21	Clinic receipts		12,900		9/1	105	Rent		2,040
10/17	Clinic receipts		17,600		12/8	106	Race permit		1,170
12/15	Race receipts		12,000		12/16	107	Salary		1,800
					12/31	108	Dividend		2,500
					12/31	109	Dividend		2,500
		$	119,040					$	54,010

	Summary of Transactions
	Beginning												Ending
	Cash Balance												Cash Balance
	July 1, 2021			+	Cash Receipts				Cash Disbursements			=	December 31, 2021
	$	0			$	119,040			$	54,010			$	65,030

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

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

Ending Balance

July 1, 2021

No

Total

No

Total

December 31, 2021

$0

8

$107,440

11

$47,510

$59,930

Account Details

Deposits and Credits

Withdrawals and Debits

Daily Balance

Date

Amount

Desc.

Date

No.

Amount

Desc.

Date

Amount

7/1

$

25,000

DEP

7/1

101

$

4,440

CHK

7/1

$

20,560

8/1

9,340

DEP

7/7

102

1,350

CHK

7/7

18,940

8/1

27,000

DEP

7/7

270

DC

7/14

7,240

9/1

15,200

DEP

7/14

103

11,700

CHK

7/24

6,570

9/30

300

INT

7/24

670

DC

8/1

42,910

10/1

12,900

DEP

8/9

104

23,800

CHK

8/9

19,110

11/1

17,600

DEP

8/24

1,770

DC

8/24

17,340

12/31

100

INT

9/2

105

2,040

CHK

9/1

32,540

9/30

150

SF

9/2

30,500

12/10

106

1,170

CHK

9/30

30,650

12/31

150

SF

10/1

43,550

11/1

61,150

12/10

59,980

$

107,440

$

47,510

12/31

$

59,930

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 $59,930 is substantially less than the companys balance of $65,030.

1. 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.)

1. 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.) Record the amounts that increase cash.

   Record the amounts that decrease cash.

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 Company's Cash Balance Per Bank Statement Per General Ledger 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 > 2 1 Record the amounts that increase cash Note: Enter debits before credits. General Journal Debit Credit Date Dec. 31 2021 KPrev 8 of 10 Next