Bank Reconciliation and Entries

The cash account for Stone Systems at July $31$ indicated a balance of $$17,750.$ The bank statement indicated a balance of $$33,650$ on July $31.$ Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:

Checks outstanding totaled $$17,865.$

A deposit of $$9,150,$ representing receipts of July $31,$ had been made too late to appear on the bank statement.

The bank had collected $$6,095$ on a note left for collection. The face of the note was $$5,750.$

A check for $$390$ returned with the statement had been incorrectly recorded by Stone Systems as $$930.$ The check was for the payment of an obligation to Holland Co$.$ for the purchase of office supplies on account.

A check drawn for $$1,810$ had been incorrectly charged by the bank as $$1,180.$

Bank service charges for July amounted to $$80.$

Required:

Question Content Area

$1.$ Prepare a bank reconciliation.

Stone Systems

Bank Reconciliation

July $31$

Cash balance according to bank statement $fill in the blank c$2$f$23$df$9$dfbffd$0\_1$

$-$ Select $-$

$

$-$ Select $-$

$-$ Select $-$

Adjusted balance $fill in the blank c$2$f$23$df$9$dfbffd$0\_9$

Cash balance according to company's records $fill in the blank c$2$f$23$df$9$dfbffd$0\_10$

$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Adjusted balance $fill in the blank c$2$f$23$df$9$dfbffd$0\_18$

Question Content Area

$2.$ 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.

July $31$

July $31$

Question Content Area

$3.$ If a balance sheet is prepared for Stone Systems on July $31,$ what amount should be reported as cash?

$fill in the blank ec$0$bb$9$f$99$f$8$b$028\_1$