calcio corners bank reconciliation

Question 1. (Total Marks 15). Racer International Unadjusted Trial Balance is given below: Trial Balance as at 31 March 2015 Debit-s Credit- Cash 4300 Accounts Receivable 15100 Prepaid Rent 2300 Supplies 1000 Equipment 30600 Accumulated Depreciation 3900 Accounts Payable 6400 Salary Payable Uneared Service Revenue 9800 Racer, Beginning Capital 23000 Racer Drawings 4100 Service Revenue 17300 Salary Expense 3000 Rent Expense Depreciation Expense Supplies Expense Total 60400 60400 Adjusting data as at 31 March 2015: 1. Unearned service revenue still unearned $ 500 2. Prepaid rent still in force $ 2000 3. Supplies used during the month $ 800 4. Depreciation for the month $ 400 5. Accrued salary expense S 600 Requirements Question 2. (Total Marks 15). The 31 August 2016 Bank Statement of Wards has just arrived from the United Bank. To prepare Ward's bank reconciliation, you gather the following data: 1. Ward's Cash Account shows a balance of $ 2,900on 31 August. 2. The bank statement includes two dishonoured cheques from customers, $ 400 and $110. 3. The following Ward's cheques are outstanding at 31 August: Cheque No. Amount-S 237 50 170 140 4. Ward collects from a few customers EFT. The bank statement lists a $ 1300 EFT deposit for a collection on account. 5. The bank statement includes two special deposits that Ward has not recorded yet: S 970 from Dividend Revenue, and S 80 Interest Revenue Ward earned on its bank balance during August. 6. The Bank Statement lists a $ 30 bank service charge. 7. On 31 August, Ward deposited $ 350, but this deposit does not appear on the bank statement 8. The bank statement includes $ 1000.00 deduction for a cheque drawn by Interstate Freight Company. Ward notified this this error. 9. The 31 August Bank balance is $ 4870. Requirements: 1. Prepare the bank reconciliation for Ward as at 31 August 2016. (15 Marks)