Bank Reconciliation and Entries The cash account for Stone Systems at July 3 1 , 2 0 Y 5 , indicated a balance of $ 1 0 , 1 7 5 The bank statement indicated a balance of $ 1 2 , 7 6 0 on July 3 1 , 2 0 Y 5 Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items Checks outstanding totaled $ 4 , 5 9 0 A deposit of $ 4 , 7 9 0 , representing receipts of July 3 1 , had been made too late to appear on the bank statement The bank had collected $ 2 , 4 9 0 on a note left for collection The face of the note was $ 2 , 3 6 0 A check for $ 7 0 0 returned with the statement had been incorrectly recorded by Stone Systems as $ 7 7 0 The check was for the payment of an obligation to Holland Co for the purchase of office supplies on account A check drawn for $ 3 0 0 had been incorrectly charged by the bank as $ 3 0 Bank service charges for July amounted to $ 4 5 Required Question Content Area 1 Prepare a bank reconciliation Stone Systems Bank Reconciliation July 3 1 , 2 0 Y 5 Cash balance according to bank statement blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2 1 Select $ Select Select blank Total deductions blank fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2 8 Adjusted balance blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2 9 Cash balance according to company's records blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2 1 0 Adjustments blank blank $ Select Select blank Total additions blank fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2 1 5 blank Select Adjusted balance blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2 1 8 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 2 0 Y 5 July 3 1 July 3 1 Question Content Area 3 If a balance sheet were prepared for Stone Systems on July 3 1 , 2 0 Y 5 , what amount should be reported as cash $fill in the blank a 9 2 9 4 0 0 6 e 0 7 c 0 5 f 1

Question

Bank Reconciliation and Entries The cash account for Stone Systems at July 3 1 , 2 0 Y 5 , indicated a balance of $ 1 0 , 1 7 5   The bank statement indicated a balance of $ 1 2 , 7 6 0 on July 3 1 , 2 0 Y 5   Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items  Checks outstanding totaled $ 4 , 5 9 0   A deposit of $ 4 , 7 9 0 , representing receipts of July 3 1 , had been made too late to appear on the bank statement  The bank had collected $ 2 , 4 9 0 on a note left for collection  The face of the note was $ 2 , 3 6 0   A check for $ 7 0 0 returned with the statement had been incorrectly recorded by Stone Systems as $ 7 7 0   The check was for the payment of an obligation to Holland Co   for the purchase of office supplies on account  A check drawn for $ 3 0 0 had been incorrectly charged by the bank as $ 3 0   Bank service charges for July amounted to $ 4 5   Required  Question Content Area 1   Prepare a bank reconciliation  Stone Systems Bank Reconciliation July 3 1 , 2 0 Y 5 Cash balance according to bank statement blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2   1   Select   $   Select     Select   blank Total deductions blank fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2   8 Adjusted balance blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2   9 Cash balance according to company's records blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2   1 0 Adjustments  blank blank $   Select     Select   blank Total additions blank fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2   1 5 blank   Select   Adjusted balance blank $fill in the blank 5 3 7 9 fefe 8 fc 7 0 0 2   1 8 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  2 0 Y 5 July 3 1 July 3 1 Question Content Area 3   If a balance sheet were prepared for Stone Systems on July 3 1 , 2 0 Y 5 , what amount should be reported as cash  $fill in the blank a 9 2 9 4 0 0 6 e 0 7 c 0 5 f   1

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Bank Reconciliation and Entries The cash account for Stone Systems at July 3 1 , 2 0 Y 5 , indicated a balance of $

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