Bank Reconciliation and Entries

The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $12,400. The bank statement indicated a balance of $16,150 on July 31, 20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:

Checks outstanding totaled $5,810.

A deposit of $6,060, representing receipts of July 31, had been made too late to appear on the bank statement.

The bank had collected $3,150 on a note left for collection. The face of the note was $2,990.

A check for $600 returned with the statement had been incorrectly recorded by Stone Systems as $660. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account.

A check drawn for $900 had been incorrectly charged by the bank as $90.

Bank service charges for July amounted to $20.

Required:

1. Prepare a bank reconciliation. Options for drop down menus: 1. Cash balance according to bank statement: 1st bar options: 2nd bar options: 3rd bar options: Adjustments drop down menu options: 1st bar options: 2nd bar options: Total additions drop down menu options: 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. If an amount box does not require an entry, leave it blank. Options for drop down menus: 1st bar options: Cash Interest Receivable Interest Revenue Notes Receivable Petty Cash 2nd bar options: Cash Interest Payable Interest Receivable Notes Payable Notes Receivable 3rd bar options: Cash Interest Payable Interest Receivable Interest Revenue Unearned Interest 4th bar options: Accounts Payable-Holland Co. Accounts Receivable-Holland Co. Cash Cash Short and Over Notes Payable 5th bar options: Accounts Receivable-Holland Co. Cash Miscellaneous Expense Notes Payable Petty Cash 6th bar options: Accounts Payable Accounts Receivable Cash Miscellaneous Administrative Expense Petty Cash 3. If a balance sheet were prepared for Stone Systems on July 31, 20Y5, what amount should be reported as cash? $ ? Please please help!! I don't understand this stuff. :(

1. Prepare a bank reconciliation. Stone Systems Bank Reconciliation July 31, 20Y5 Cash balance according to bank statement Total deductions Adjusted balance Cash balance according to company's records Adjustments: Total additions Adjusted balance Add: Bank service charges Add: Deposit in transit on July 31 Add: Error in recording check by Stone Systems Add: Note collected by bank, including $160 interest Add: Outstanding checks Deduct: Bank service charges Deduct: Deposit in transit on July 31 Deduct: Error in recording check by Stone Systems Deduct: Note collected by bank, including $160 interest Deduct: Outstanding checks Deduct: Bank error in charging check as $90 instead of $900 Deduct: Bank service charges Deduct: Deposit in transit on July 31 Deduct: Error in recording check by Stone Systems Deduct: Note collected by bank, including $160 interest Add: Bank error in charging check as $90 instead of $90 Add: Bank service charges Add: Deposit in transit on July 31 Add: Note collected by bank, including $160 interest Add: Outstanding checks Add: Bank error in charging check as $90 instead of $900 Add: Bank service charges Add: Deposit in transit on July 31 Add: Error in recording check by Stone Systems Add: Outstanding checks Deduct: Bank service charges Deduct: Deposit in transit on July 31 Deduct: Error in charging check as $90 instead of $90 Deduct: Note collected by bank, including $160 interes 2Deduct: Outstanding checks blank. 3. If a balance sheet were prepared for Stone Systems on July 31, 20Y5, what amount should be reported as cash