Exercise 5-8 The following information pertains to Wildhorse Company. 1. Cash balance per bank, July 31, $7,838. 2. July bank service charge not recorded by the depositor $50. 3. Cash balance per books, July 31, $7,874. 4. Deposits in transit, July 31, $3,210. 5. $2,526 collected for Wildhorse Company in July by the bank through electronic funds transfer. The collection has not been recorded by Wildhorse Company. 6. Outstanding checks, July 31, $698. Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.) WILDHORSE COMPANY Bank Reconciliation SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE VIDEO: SIMILAR EXERCISE Prepare a tabular analysis for the adjustments at July 31 on the books of Wildhorse Company. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities + Stockholders' Equity Cash + Accts. Rec. + Rev. - Exp. July 31 31