eBook Show How Calculator Bank reconciliation and entries Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Pala Medical Co. at June 30, 2011, indicated a balance of $91.408. The bank statement indicated a balance of $126.500 on June 30, 2011. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling A. Checks outstanding totaled $33,700. B. A deposit of $18,000, representing receipt of June 30, had been made too late to appear on the bank statement C. The bank collected $22.042 on a $20,000 note, including interest of $1.442 D. A check for $1,600 returned with the statement had been incorrectly recorded by Pall Medical Co, as $100. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account E. A check drawn for $680 had been erroneously charged by the bank as $860 F. Bank service charges for June amounted to $40 Instructions 1. Prepare a bank reconciliation. Refer to the Amount Description is provided for the e those boxes in which you must enter subtracted or negative numbers use a minus sig 2. Journalize the necessary entries. Refer to the Chart Accounts for exact wording of a 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2011. what amoun. Check My Work Previous Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions Chart of Accounts CHART OF ACCOUNTS Pala Medical Co. General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable REVENUE 410 Sales 610 Interest Revenue 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 536 Rent Expense Check My Work Previous All work saved. Email Instructor Save and be Submit Assignment for Grad Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions Chart of Accounts 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment 531 Advertising Experise 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 537 Selling Expenses $38 Store Supplies Expense 561 Depreciation E v ent 562 Depreciation Expense-Store Equipment LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable 500 Miscellaneous Experise EQUITY 310 Common Stock 311 Retained Earrings 312 Dividends 313 Income Summary heck My Work Previous Email Instructor Save and Exit Submit Assignment for Grading Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Bank Reconciliation Journal Final Question 1. Prepare a bank reconciliation Refer to the Amount Descriptions list provided for the subtracted or negative numbers use a minus sign networding of the answer choice for entries. For those bases in which you must enter Pala Medical Co. Bank Reconciliation June 30, 20Y1 Cash balance according to bank statement Cash balance according to company's records Check My Work Previous A worked Email Instructor Save and Submit A g ent for Grading Bank reconciliation and entries Calculator Instruction Chart of Accounts Amount Descriptions Bank Reconciliation Bank Reconciliation Journal Final Question June 30, 20Y1 Cash balance according to bank statement Adjustments, Cash balance according to company's records Oh My Won Previous Al saved Email in Sawe and Et Suome e n for Gradine Book Show Me How Bank reconciliation and entries Calculator Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Bank Reconciliation Journal 2. Joumalize the necessary entries. Refer to the Chart of Accounts for exact wording of accounts PAGE 1 JOURNAL ACCOUNTING EQUATION DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LABUITIES EQUITY Check My Work Previous Show Me How Calculator Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Bank Reconciliation Journal Final Question 3. If a balance sheet were prepared for Pal Medical Co, on June 30, 20Y1, what amount should be reported as cash? EQUATION EQUITY Check My Work
