Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question = Instructions The cash account for Pala Medical Co at June 30, 20Y1 indicated a balance of $146,035. The bank statement indicated a balance of $181,965 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 $16.445 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 $1,800 D. A check for $2,000 returned with the statement had been incorrectly recorded by Pala Medical Com $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 5710 F. Bank service charges for June amounted to $75 1. Prepare a bank reconciliation Refer to the Amount Descriptions ist provided for the exact wording of the answer choices for text entries For those bores in which you must enter subtracted or negative numbers use a minus sign 2 Journalve the necessary entries Refer to the Chart of Accounts for exact wording of accountities 3. a balance sheet were prepared for Pala Medical Co on June 30, 2011, what amount should be reported as cash? Amount Descriptions Amount Descriptions Adjusted balance Bank error in charging check as $710 instead of $170 Bank error in charging check as $170 instead of $710 Bank service charges Check for $710 returned because of insufficient funds Deposit of June 30, not recorded by bank Error in recording check Error in recording June 30 deposit Outstanding checks Proceeds of note collected by bank, including $1,800 interest Total adjustments Check My Work 3 more Check My Work uses remaining. eBook Show Me How Journal Final Question Bank Reconciliation Amount Descriptions Instructions Chart of Accounts Bank Reconciliation 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For the negative numbers use a minus sign Score: 76/108 Pala Medical Co. Bank Reconciliation June 30, 20Y1 $181.965.00 9,900.00 1 Cash balance according to bank statement 2 Adjustments: Deposit of June 30, not recorded by bank Outstanding checks Bank error in charging check as $710 instead of $170 Total adjustments Adjusted balance 16,445.00 170.00 6 27,055.00 $154,910.00 3 Cash balance according to company's records $146,035.00 Check My Work 3 more Check My Work uses remaining 7 Adjusted balance $154,910.00 8 $146,035.00
