Answer each of the following three (3) Bank Reconciliation questions.

CHAPTER 8 Internal Control and Cash Problem 8-8A Preparation of a bank reconcillation and recording adjustments Lo 0.am Stewart Recording Studlo, owned by Ron Stewant, showed the following bank reconcillation at March 3y 26 HECK FIGURE owox raume Adjpeted book Stewart Recording Studio Bank Reconciliation March 31, 2014 22,100 Book balance.... 10,000 Bank statement balance Add: $30,945 Deposit of March 31 in transt $32,100 Deduct Outstanding cheques 14 1840 315 1,155 Adjusted bank balance 130,945 Adjusted book balance$30,945 Acct. No, 101 Balance Explanation PR Debit Credit 2014 Mar. 31 Balance . 30 30,945 102,185 11,213 CR17 91,172 A ist ot depouits made and cheques written during Apni, taken from the Cash Receipts Journal and Cash Distmursements Journal, is shown below Deposits Made Cheques Written 600 23 s 5,200 1,150 18 23 ,900 1,900 1,750 44,600 4,230 4,900 19,630 41,000 Total Aprit Cash Receipts 11.400 Total Apol Cash Disbunements $913173 The following bank statement is available for April Bank Statement To: Stewart Recording Studio April 30, 2014 Bank of Canada Cheques/Charges Deposits/Credits #31 #28 #26 NSF #24 #23 #29 PMT INT 04/03 04/07 04/13 04/18 04/23 04/27 04/30 04/30 04/30 04/30 412 9,400 310 14,200 3,150 5,200 19,630 10,000 690 4,600 5,900 13,900 1,750 04/30 120,000 04/03 04/07 04/13 04/18 04/23 04/27 22,100 31,688 22,978 27,268 18,968 29,718 26,268 126,638 110,738 110,288 110,113 15,900 450 175 NSF - Not Sufficient ervcePMT Payment of INT Interest Charge Principal on the Loan on Bank Funds Loan reviewing cheques returned bythe bank, the bookkeeper discovered that Cheque #28, for delivery ex lewas secorded in the Cash Disbursements Journal correctly as $4,900. The NSF cheque for $14,200 as that e bank statement, the payment for $15,900 is regarding a note payable. There is also a deposit er Oprah Winney, deposited in March. 20.000 dated April 30. It is an investment made by the owner into the business (the bank trans- of $120e funds electronically from the owner's personal account to his business account, which i ferred the funds electronicall it was not recorded in the Cash Receipts Journal) Required a. Prepare a reco b. bank reconciliation for Stewart Recording Studio at April 30. e the necessary journal entries to bring the General Ledger Cash account into agreement with The adjusted balance on the bank reconciliation. Bank Reconciliation (value-15) The followng i 2011 nformation is provided for Renovation Service Ltd. at the end of Bank of The North Pole an Sttenent for December 31 200 Balance Date 2011 Nov.1 1530.20 1211.60 990.10 2575.00 720.10 844.50 1640.70 2470 2471 2475 2474 2476 2477 2830.00 600.00 12 1750.00 1330.00 1472.70 2945.00 2567.30 2480 30 30 50.00 695.40 2481 1650.00 CM 2105.00 2486 2483 900.00 30 5 1186.00 $17,614.60 Cash Receipts Journal Cash Payments Journal December 3 1211.60 990.10 1472.70 2567 30 1186.00 Cheque.... 2475 2476 2477 2478 2479 $1640.70 2830.00 600.00 538.20 1570.00 17 20 2481 2482 895.40 612.00 575.50 829.50 974.80 900.00 398.00 2487 2488 Total $15831.70 $14694.10 otal Cash Account No. 101 Date Post Ref Debit Credit Balance Dec. 1 Balance 9596.30 25428.00 14694.10 10733.90 31 Cr4 CPB 15831.70 31 In addition keep the following in mind The bank statement contained two memoranda A credit memo of $2105 for the collection of a $2000 note for Rudolph Chauffeur Services, plus interest of $120 and less a collection fee of $15 A debit memo for the printing of additional company cheques, $50 o o The bank did not make any errors, but two errors were made by Rudolph Chauffeur Services. One on a cheque written for office equipment the other on a deposit received on account from J. Frost The following cheques were outstanding last month #2451-S 1260 40, #2470-5720.10; #2471-S844 50, #2472 . * $426 80-824 745 1050.00 (have they gor e through yet?) and The folowing dep ase was in tansit last mo th $153020 CHAPTER 8 Internal Control and Cash Problem 8-8A Preparation of a bank reconcillation and recording adjustments Lo 0.am Stewart Recording Studlo, owned by Ron Stewant, showed the following bank reconcillation at March 3y 26 HECK FIGURE owox raume Adjpeted book Stewart Recording Studio Bank Reconciliation March 31, 2014 22,100 Book balance.... 10,000 Bank statement balance Add: $30,945 Deposit of March 31 in transt $32,100 Deduct Outstanding cheques 14 1840 315 1,155 Adjusted bank balance 130,945 Adjusted book balance$30,945 Acct. No, 101 Balance Explanation PR Debit Credit 2014 Mar. 31 Balance . 30 30,945 102,185 11,213 CR17 91,172 A ist ot depouits made and cheques written during Apni, taken from the Cash Receipts Journal and Cash Distmursements Journal, is shown below Deposits Made Cheques Written 600 23 s 5,200 1,150 18 23 ,900 1,900 1,750 44,600 4,230 4,900 19,630 41,000 Total Aprit Cash Receipts 11.400 Total Apol Cash Disbunements $913173 The following bank statement is available for April Bank Statement To: Stewart Recording Studio April 30, 2014 Bank of Canada Cheques/Charges Deposits/Credits #31 #28 #26 NSF #24 #23 #29 PMT INT 04/03 04/07 04/13 04/18 04/23 04/27 04/30 04/30 04/30 04/30 412 9,400 310 14,200 3,150 5,200 19,630 10,000 690 4,600 5,900 13,900 1,750 04/30 120,000 04/03 04/07 04/13 04/18 04/23 04/27 22,100 31,688 22,978 27,268 18,968 29,718 26,268 126,638 110,738 110,288 110,113 15,900 450 175 NSF - Not Sufficient ervcePMT Payment of INT Interest Charge Principal on the Loan on Bank Funds Loan reviewing cheques returned bythe bank, the bookkeeper discovered that Cheque #28, for delivery ex lewas secorded in the Cash Disbursements Journal correctly as $4,900. The NSF cheque for $14,200 as that e bank statement, the payment for $15,900 is regarding a note payable. There is also a deposit er Oprah Winney, deposited in March. 20.000 dated April 30. It is an investment made by the owner into the business (the bank trans- of $120e funds electronically from the owner's personal account to his business account, which i ferred the funds electronicall it was not recorded in the Cash Receipts Journal) Required a. Prepare a reco b. bank reconciliation for Stewart Recording Studio at April 30. e the necessary journal entries to bring the General Ledger Cash account into agreement with The adjusted balance on the bank reconciliation. Bank Reconciliation (value-15) The followng i 2011 nformation is provided for Renovation Service Ltd. at the end of Bank of The North Pole an Sttenent for December 31 200 Balance Date 2011 Nov.1 1530.20 1211.60 990.10 2575.00 720.10 844.50 1640.70 2470 2471 2475 2474 2476 2477 2830.00 600.00 12 1750.00 1330.00 1472.70 2945.00 2567.30 2480 30 30 50.00 695.40 2481 1650.00 CM 2105.00 2486 2483 900.00 30 5 1186.00 $17,614.60 Cash Receipts Journal Cash Payments Journal December 3 1211.60 990.10 1472.70 2567 30 1186.00 Cheque.... 2475 2476 2477 2478 2479 $1640.70 2830.00 600.00 538.20 1570.00 17 20 2481 2482 895.40 612.00 575.50 829.50 974.80 900.00 398.00 2487 2488 Total $15831.70 $14694.10 otal Cash Account No. 101 Date Post Ref Debit Credit Balance Dec. 1 Balance 9596.30 25428.00 14694.10 10733.90 31 Cr4 CPB 15831.70 31 In addition keep the following in mind The bank statement contained two memoranda A credit memo of $2105 for the collection of a $2000 note for Rudolph Chauffeur Services, plus interest of $120 and less a collection fee of $15 A debit memo for the printing of additional company cheques, $50 o o The bank did not make any errors, but two errors were made by Rudolph Chauffeur Services. One on a cheque written for office equipment the other on a deposit received on account from J. Frost The following cheques were outstanding last month #2451-S 1260 40, #2470-5720.10; #2471-S844 50, #2472 . * $426 80-824 745 1050.00 (have they gor e through yet?) and The folowing dep ase was in tansit last mo th $153020