eBook Show Me How E Print Item Transactions for petty cash, cash short and over Instructions Chart of Accounts Joumal Instructions Wyoming Restoration Company completed the following selected transactions during July 20Y1 July 1 12 Established a petty cash fund of S1, 100 The cash sales for the day, according to the cash register records, totaled 58.192. The actual cash received from cash sales was 58,220 Petty cash on hand was S47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt 31 July 3 Store supplies S580 Express charges on merchandise sold, S90 (Delivery Expense). 7 9 Office supplies, S30 13 19 21 Office supplies, $35. Postage stamps, $50 (Office Supplies). Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense) Postage due on special delivery letter, S28 (Miscellaneous Administrative Expense) Express charges on merchandise sold, $135 (Delivery Expense) 22 24 30 Office supplies, S25 July 31 The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232 31 Decreased the petty cash fund by $150 Journalize the transactions Refer to the Chart of Accounts for exact wording of account titles Check My Work ch DI .M Bank reconciliation and entries Instructinas Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Pala Medical Co at June 30, 2041, indicated a balance of $146,035. The bank statement indicated a balance of S181,965 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items A Checks outstanding totaled S16 445 B. A deposit of $9.900, representing receipts of June 30, had been made too late to appear on the bank statement C. The bank collected $31.800 on a $30,000 note including interest of S1,800 D A check for $2.000 returned with the statement had been incorrectly recorded by Pala Medical Co, as $200. The check was for the payment of an obligation to Skyline Supply Co for a purchase on account E Acheck drawn for $170 had been erroneously charged by the bank as S710 F Bank service charges for June amounted to 575 1. Prepare a bank reconciliation Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries Refer to the Chart of Accounts for exact wording of account titles 3. If a balance sheet were prepared for Pala Medical Co on June 30, 20Y1, what amount should be reported as cash? Bank reconciliation and entries instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Coastal Bike Co al October 1, 2099, indicated a balance of $5,140 During October the total cash deposited was $39.175, and checks written totaled 540,520 The bank statement indicated a balance of 58,980 on October 31, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items A Checks outstanding totaled $5,560 B A deposit of 51 050 representing receipts of October 31, had been made too late to appear on the bank statement C. The bank had collected for Coastal Bike Co. $2,120 on a nole left for collection. The face of the note was $2,000 D. A check for S370 returned with the statement had been incorrectly charged by the bank as $730 E A check for S310 returned with the statement had been recorded by Coastal Bike Co as $130. The check was for the payment of an obligation to Rack Pro Co on account F. Bank service charges for October amounted to $25. G. A check for 5880 from Bay View Condos was returned by the bank due to insufficient funds. Instructions 1. Prepare a bank reconciliation as of October 31, 2019. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles 3. If a balance sheet were prepared for Coastal Bike Co on October 31, 2019, what amount should be reported as cash? Previous Next eBook Show Me How E Print Item Transactions for petty cash, cash short and over Instructions Chart of Accounts Joumal Instructions Wyoming Restoration Company completed the following selected transactions during July 20Y1 July 1 12 Established a petty cash fund of S1, 100 The cash sales for the day, according to the cash register records, totaled 58.192. The actual cash received from cash sales was 58,220 Petty cash on hand was S47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt 31 July 3 Store supplies S580 Express charges on merchandise sold, S90 (Delivery Expense). 7 9 Office supplies, S30 13 19 21 Office supplies, $35. Postage stamps, $50 (Office Supplies). Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense) Postage due on special delivery letter, S28 (Miscellaneous Administrative Expense) Express charges on merchandise sold, $135 (Delivery Expense) 22 24 30 Office supplies, S25 July 31 The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232 31 Decreased the petty cash fund by $150 Journalize the transactions Refer to the Chart of Accounts for exact wording of account titles Check My Work ch DI .M Bank reconciliation and entries Instructinas Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Pala Medical Co at June 30, 2041, indicated a balance of $146,035. The bank statement indicated a balance of S181,965 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items A Checks outstanding totaled S16 445 B. A deposit of $9.900, representing receipts of June 30, had been made too late to appear on the bank statement C. The bank collected $31.800 on a $30,000 note including interest of S1,800 D A check for $2.000 returned with the statement had been incorrectly recorded by Pala Medical Co, as $200. The check was for the payment of an obligation to Skyline Supply Co for a purchase on account E Acheck drawn for $170 had been erroneously charged by the bank as S710 F Bank service charges for June amounted to 575 1. Prepare a bank reconciliation Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries Refer to the Chart of Accounts for exact wording of account titles 3. If a balance sheet were prepared for Pala Medical Co on June 30, 20Y1, what amount should be reported as cash? Bank reconciliation and entries instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Coastal Bike Co al October 1, 2099, indicated a balance of $5,140 During October the total cash deposited was $39.175, and checks written totaled 540,520 The bank statement indicated a balance of 58,980 on October 31, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items A Checks outstanding totaled $5,560 B A deposit of 51 050 representing receipts of October 31, had been made too late to appear on the bank statement C. The bank had collected for Coastal Bike Co. $2,120 on a nole left for collection. The face of the note was $2,000 D. A check for S370 returned with the statement had been incorrectly charged by the bank as $730 E A check for S310 returned with the statement had been recorded by Coastal Bike Co as $130. The check was for the payment of an obligation to Rack Pro Co on account F. Bank service charges for October amounted to $25. G. A check for 5880 from Bay View Condos was returned by the bank due to insufficient funds. Instructions 1. Prepare a bank reconciliation as of October 31, 2019. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles 3. If a balance sheet were prepared for Coastal Bike Co on October 31, 2019, what amount should be reported as cash? Previous Next