hello my name is Jthis homework is about Accounting. its talking aboutbank reconciliation and inventory problem please help!

BANK RECONCILIATION QUESTIONS 1. 1.Checks that have been written by a company but have not yet been charged to the company's checking account are referred to as __________ 2. 2.A company's receipts from September 30 that get deposited to the company's bank account on October 1st are referred to as deposits __________ 3. 3.A general guide for reconciling the bank statement is "Put it where it __________ ". 4. For items 4-15, Identify the action necessary to reconcile the bank statement. A .Add To BOOK Balance B. Deduct From BOOK Balance C. Add To BANK Balance D. Deduct From BANK Balance ______ 4.Outstanding checks.. _______5. Bank service charge. _______6.Interest credited to bank account. _______7.Interest charged to bank account. _______8.Deposit in transit. _______9.Bank inadvertently charged your bank account for another company's bank fees. _______10.Bank erred by posting another company's credit memo to your company's bank account. _______11.Fee charged by bank for returned check. ______12.A company wrote a check for $76 and it cleared the bank for $76. However, the company recorded the check in its Cash account as $67. How is the difference of $9 handled on the bank reconciliation? ______13.A company had a receipt of $989 and correctly prepared its bank deposit slip for $989. However, the company recorded the receipt in its Cash account as $998. How is the difference of $9 handled on the bank reconciliation? _____14.The bank collected a Note Receivable for the company and credited the company's bank account for $1,000. _____15.A company deposited a check from a customer into its checking account. A few days later the check was returned with the notation account closed and the bank deducted the amount on the bank statement. 16.A company's Cash account has a balance of $851 as of October 31. The bank statement for this account reports a balance of $1,430 as of October 31. There are outstanding checks totaling $840 and a deposit in transit of $60. The bank statement shows interest earned of $19, service charges of $30, a customer's returned check of $100, and a check printing fee of $90. The reconciled Cash balance that should be reported on the company's balance sheet as of October 31 is $ __________ . 17.Which of the following items will require a journal entry to the company's books? Bank Service Charge Deposit In Transit Bank Error 18.Which of the following will NOT require a journal entry to the company's books? Check Printing Charge Outstanding Checks Fee For NSF Check 19.A company recorded its check #2754 in its accounting records as $98. However, check #2754 was actually written for $89 and it cleared the bank as $89. What adjustment is needed to the Cash balance per books? Decrease By $9 Increase By $9 None Needed 20.A company recorded its August 15 receipts on its books as $165. However, the receipts were actually $156. The deposit slip for the bank was prepared correctly as $156. What adjustment is needed to the Cashbalance per books? Decrease By $9 Increase By $9 None Needed Brown Company's bank statement for September 30, showed a cash balance of $1,350. the company's Cash account in its general ledger showed a $995 debit balance. The following information was also available as of September 30. a. a customer's check for $100 marked NSF was returned to Brown Company by the bank. The bank charged the company's account a $25 processing fee. b. The September 30 cash receipts, $1,250 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c. A $15 debit memorandum for checks printed by the bank was included with the canceled checks. d. Outstanding checks amounted to $1,145. e. A customer's note for $900 was collected by the bank. a collection fee of $25 was deducted by the bank. f. Included with the canceled checks was a check for $275, drawn on another company, Browne, Inc. Required: 1. Prepare a bank reconciliation as of September 30. Using a copy of form 4C from your working papers packet INVENTORY PROBLEM The Delta company uses a perpetual inventory system. The beginning balance of inventory and the purchases made by Delta during the month of July are given below: Date Description Units Unit cost Total cost July 01 Beginning inventory 500 $20 $10,000 July 10 Sold 250 units at $50 ea July15 Inventory purchased 800 $24 $19,200 700 2,000 - $26 $18,200 $47,400 July 18 Sold 700 units@$50 ea July 25 Inventory purchased Total Required: Using a copy form 4c Complete Inventory chart (example done in class) and Compute inventory on 31st July and cost of goods sold for the month of July using following inventory costing methods: 1. First in, first out (FIFO) method 2. Last in, first out (LIFO) method