Continuing Problem cording and posting sactions, preparing a trial ance; and preparing a bank onciliation (60 min) Sollowing is a list of transactions for the month of October. Petty Cash Account (1010) and Miscellaneous Expense Account (5100) have been added to the chart of accounts. Assignment (Excel templates for this Continuing Problem are available in Mylab Accounting.) 1. Record the transactions in appropriate journals or petty cash format 2. Post the transactions to the general ledger accounts. 3. Prepare a trial balance. 2022 Oct. T Paid cleaning contract for October, November, and December, $900, cheque No. 252. 4 Established a petty cash fund for $100, cheque No. 253 4 Collected $3,600 from a cash customer for building three systems. A Invoiced (invoice No. 12684) and received $1,600 from Anthony Pitale. 8 Purchased $25 worth of stamps, using petty cash voucher No. 101. 8 Withdrew $2,000 (cheque No. 254) for personal use. 9 Purchased $22 worth of supplies, using petty cash voucher No. 102. igure le bank balance $1,625.00 ince $66,999.82 11 Paid the newspaper carrier $10, using petty cash voucher No. 103 15 Paid the amount due for October phone bill to West Bell Canada, $65, cheque No. 255. 15 Paid the amount due for the October electric bill to City Electric, $95, cheque No. 256. 22 Performed computer services for Taylor Golf; billed the client $4,200, invoice No. 12685. 25 Paid $20 for computer paper, using petty cash voucher No. 104. 28 Took $15 out of petty cash for lunch, voucher No. 105. 29 Replenished the petty cash, cheque No. 257. Coin and currency in drawer $8. forgot to reconcile the Since Tony was so busy trying to close his books, May, June, and July bank statements. What follows on pages 461 and 462 is a list of all deposits and cheques written for these three months (each entry is identified by chapter, transaction date, or transaction letter ) and bank statements for May through July. Reconciliations for August and September are not part of this problem. Precision Computer Centre Summary of Deposits and Cheques Transaction Chapter ash een 1 1 Amount 1 1 2 3 3 3 Lab (a) (1) (g) (0) (P July 5 July 8 July 12 July 26 Payor/Payee DEPOSITS Tony Freedman Cash customer Cash customer Taylor Golf Cash customer Tonya Parker Jones Summer Lipe Jeannine Sparks Mike Hammer $4.500 250 200 1,200 900 325 220 850 140 3 Transaction Chapter Amount (6) (e) 0 $1,200 600 400 100 1 1 1 2 2 2 2 2 3 3 3 3 (m) (n) (9 Cheque No. Payor/Payee CHEQUES Multi Systems, Inc. Office Furniture, Inc Capital Management Tony Freedman Insurance Protection, Inc. Office Depot Computer Edge Magazine City Electric Canada Post Capital Management West Bell Canada Computer Connection Multi Systems, Inc. 201 202 203 204 205 206 207 208 209 210 211 212 213 July 3 150 200 1,400 85 50 1,200 155 200 1,200 July 10 July 15 July 17 200.00 BANK STATEMENT Royal Bank of Canada 322 Glen Avenue, Edmonton, AB TSP 2T9 Precision Computer Centre Statement Date: May 21, 2022 Cheques Paid: Deposits and Credits: Date paid Number Amount Date received Amount J-5 201 1,200.00 5-3 4,500.00 5-7 202 600.00 5-10 250.00 5-14 203 400.00 5-20 5-21 1,200.00 Total 3 cheques paid for $2,200.00 Total Deposits $6,150.00 Ending Balance on May 21-53,950.00 Received Statement May 28, 2022. BANK STATEMENT Royal Bank of Canada 322 Glen Avenue, Edmonton, AB TSP 2T9 Precision Computer Centre Statement Date: June 18, 2022 Cheques Paid: Amount Date paid Number Amount 900.00 6-2 204 6-11 205 6-9 206 6-16 207 6-21 208 Total Deposits Total cheques paid for $1,935.00 Beginning balance on May 21-$3,950.00 Ending balance on June 18-$2,915.00 Received Statement June 28, 2022. Deposits and Credits: Date received 6-7 100.00 150.00 200.00 1,400.00 85.00 $900.00 (Continued) BANK STATEMENT Royal Bank of Canada 322 Glen Avenue, Edmonton, AB TSP 279 Precision Computer Centre Statement Date: July 23, 2022 Deposits and Credits: Cheques Paid: Date paid Number Amount Date received 7-2 209 10.00 7-8 7-6 210 1,200.00 7-10 211 155.00 7-13 Amount 325.00 220.00 850.00 7-13 Total Deposits Total 3 cheques paid for $1,405.00 $1,395.00 Beginning balance on June 18 $2,915.00 Ending balance on July 23 $2,905.00 Received Statement Jul 28, 2022. Assignment Compare Precision Computer Centre's deposits and cheques with the bank statements and complete a bank reconciliation as of July 31
