CALCULATOR FULL SCREEN PRINTER VERSION 4 Problem 7-5A Wildhorse Co. of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2017, the company's Cash account per its general ledger showed a balang $6,893.90 The bank statement from Emporia State Bank on that date showed the following balance. Checks and Debits XXX EMPORIA STATE BANK Deposits and Credits XXX Daily Balance 5.31 7.123.00 A comparison of the details on the bank statement with the details in the cash account revealed the following facts. 1. The statement included a debit memo of $55.00 for the printing of additional company checks. 2. Cash sales of $898.15 on May 12 were deposited in the bank. The cash recepts journal entry and the deposit slip were incorrectly made for $948.15. The bank credited Wildhorse Co. correct amount Outstanding checks at May 31 totaled $285.25, and deposits in transit were $1,895.15 4. On May 18, the company issued check No. 1181 for $684.00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Wildhorse Co 1648.00 5 A $2.860.00 note receivable was collected by the hand for Wildhorse Co. on May 11 through electronic funds transfer 6. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $345.00 that was incorrectly charged to Wildhorse Co. by the bank. 7. On May 31, the bank statement showed an NSF charge of $535.00 for a check issued by Sara Ballard, a customer, to Wildhorse Co. on account. Prepare the bank reconciliation at May 31, 2017. (List items that increase balance as per bank books first.) WILDHORSE CO Bank Reconciliation Prepare the bank reconciliation at May 31, 2017. (List items that increase balance as per bank & books first.) WILDHORSE CO. Bank Reconciliation WENT RESOURCES - 07 Homework Prepare the necessary adjusting entries for Wildhorse Coat May 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent man Date Account Titles and Explanation Debit Credit May 31 w Results by Study (To record collection of not receivable by bank) (To record NSF check) (To correct error in deposit) (To correct error in recording check) U n i c y i 2000-2012 W a s Inc. All Rights Reserved. A Division of Sohn Wilec Sans Inc