Hello, I will attatch the problem here for part of my accounting midterm

ACC121 FINAL EXAM - Problems (40 points total) Problem 1 Rawlins Company Bank Reconciliation April 30, 2014 Balance per bank, April 30 1) Add $ $ 2) Less Adjust bank balance, April 30 $ Balance per books, April 30 Add: 1) 2) Less: 1) 2) Adjusted book balance, April 30 $ $ $ $ $ 2. Cash on the balance sheet as of April 30 = $ Problem 2 (Show your work) = $ Problem 3 (Show your work) = $ Palo Verde Landscaping Services Income Statement For the Year Ended December 31, 20x5 Service revenue Expenses Salaries expense Supplies expense Insurance expense Depreciation expense-office equipment Total expenses Net income $ $ $ Palo Verde Landscaping Services Statement of Retained Earnings For the Year Ended December 31, 20x5 Retained Earnings December 31, 20x4 Net income Subtotal Less: Dividends Retained Earnings, December 31, 20x5 $ $ $ Palo Verde Landscaping Services Balance Sheet December 31, 20x5 Assets Cash Accounts receivable Supplies Prepaid insurance Office equipment Less accumulated depreciation Total assets $ $ $ Liabilities Accounts payable Salaries payable Total liabilities Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $ $ $ ACC121 - FINAL EXAM (Problems) Name___________________________________________ Date ________________ PROBLEM 10 points each (40 points total) 10 points 1. The following information pertains to the bank transactions of Rawlins Company: 1. Cash on the books as of April 30 was $499. Cash as shown on the bank statement for the same date was $1,330. 2. A deposit of $160, representing cash receipts as of April 30, did not appear on the bank statement. 3. Outstanding checks totaled $240. 4. Bank service charges for April amounted to $9 5. The bank collected for Rawlins Company $840 (which includes $40 interest) on a note left for collection. 6. An NSF check for $80 from a customer, Joe Beck, was returned with the statement. What amount would appear on the Balance Sheet? (Show your work) a. $1,250 b. $1,330 c. $ 499 d. None of the above The following information pertains to questions 2, and 3. (10 points each) Preston Corporation purchased a truck for $40,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $4,000 at the end of that time. During the second year, the truck was driven 27,500 miles. What would the company record as Depreciation for the second year under each of the following methods: (Show your work) 2. Production method: a. $9,000.00 b. $9,900.00 c. $10,000.00 d. None of the above 3. Double-declining-balance method: a. $9,000.00 b. $9,900.00 c. $10,000.00 d. None of the above 10 points 4. Given the adjusted trial balance below, prepare (in good form) an income statement, statement of retained earnings, and balance sheet. The name of the business is Palo Verde Landscaping Services and the accounting period coincides with the calendar year. (Use the following blank pages) Palo Verde Landscaping Services Adjusted Trial Balance December 31, 20x5 Cash Accounts Receivable $ 795 1,800 Supplies 30 Prepaid Insurance 30 Office Equipment 3,000 Accumulated Depreciation-Office Equipment $ 450 Accounts Payable 1,800 Salaries Payable 105 Common Stock 1,000 Retained Earnings 1,100 Service Revenue 3,300 Salaries Expense 1,680 Supplies Expense 120 Insurance Expense 150 Depreciation Expense-Office Equipment 150 ______ $7,755 $7,755