Bank Reconciliation and Enthes The cash account for All American Sports Co. on April 1, 20YS, indicated a balance of $23,600. During April, the total cash deposited was $80,150, and checks written totaled $72,800. The bank statement indicated a balance of $40,360 on April 30, 20YS. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $14,300. b. A deposit of $9,275, representing receipts of April 30, had been made too late to appear on the bank statement. c. A check for $720 had been incorrectly charged by the bank as $270 d. A check for $110 returned with the statement had been recorded by All American Sports Co. as $1,100. The check was for payment of an obligation to Garber Co. on account. e. The bank had collected for All American Sports Co. $4,320 on a note left for collection. The face of the note was $4,000. f. Bank service charges for April amounted to $75. g. A check for $1,300 from Bishop Co. was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of April 30. All American Sports Co. Bank Reconciliation April 30, 20Y5 Cash balance per bank statement Add: Deposit of April 30, not recorded by bank 49,635 Deduct: Outstanding checks 14,300 Deduct: Bank error in charging check as $270 instead of $720 450 49,635 Deduct: Outstanding checks Deduct: Bank error in charging check as $270 instead of $720 Adjusted balance Cash balance per All American Sports Co. Add: Proceeds of note collected by bank, including $320 interest Add: Error in recording check as $1,100 by company instead of $110 14,3%0000 450 Deduct: Check returned because of insufficient funds Deduct: Bank service charges Adjusted balance 1,00 75 Increase in Cash: Balance Sheet Statement of Income +Stockholders' Equity Assets Liabilities Cash Flows Statement Retained Earnings Cash Notes Receivable Accounts Payable + Retained Earnings April 30 Statement of Cash Flows Income Statement Operating Interest revenue No effect No effect Decrease in Cash Decrease in Cash: Balance Sheet Statement of Income Assets Stockholders' Equity Liabilities + Statement Cash Flows Cash+Accounts Receivable No Effect + Retained Earnings April 30 Statement of Cash Flows Income Statement Operating Miscellaneous administrative expense No effect No effect Bank Reconciliation and Enthes The cash account for All American Sports Co. on April 1, 20YS, indicated a balance of $23,600. During April, the total cash deposited was $80,150, and checks written totaled $72,800. The bank statement indicated a balance of $40,360 on April 30, 20YS. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $14,300. b. A deposit of $9,275, representing receipts of April 30, had been made too late to appear on the bank statement. c. A check for $720 had been incorrectly charged by the bank as $270 d. A check for $110 returned with the statement had been recorded by All American Sports Co. as $1,100. The check was for payment of an obligation to Garber Co. on account. e. The bank had collected for All American Sports Co. $4,320 on a note left for collection. The face of the note was $4,000. f. Bank service charges for April amounted to $75. g. A check for $1,300 from Bishop Co. was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of April 30. All American Sports Co. Bank Reconciliation April 30, 20Y5 Cash balance per bank statement Add: Deposit of April 30, not recorded by bank 49,635 Deduct: Outstanding checks 14,300 Deduct: Bank error in charging check as $270 instead of $720 450 49,635 Deduct: Outstanding checks Deduct: Bank error in charging check as $270 instead of $720 Adjusted balance Cash balance per All American Sports Co. Add: Proceeds of note collected by bank, including $320 interest Add: Error in recording check as $1,100 by company instead of $110 14,3%0000 450 Deduct: Check returned because of insufficient funds Deduct: Bank service charges Adjusted balance 1,00 75 Increase in Cash: Balance Sheet Statement of Income +Stockholders' Equity Assets Liabilities Cash Flows Statement Retained Earnings Cash Notes Receivable Accounts Payable + Retained Earnings April 30 Statement of Cash Flows Income Statement Operating Interest revenue No effect No effect Decrease in Cash Decrease in Cash: Balance Sheet Statement of Income Assets Stockholders' Equity Liabilities + Statement Cash Flows Cash+Accounts Receivable No Effect + Retained Earnings April 30 Statement of Cash Flows Income Statement Operating Miscellaneous administrative expense No effect No effect