KEEPING IT REAL SUAREZ COMPUTER CENTER The books have been closed for the first year of business for Suarez Computer Center. The company ended up with a marginal profit for the first 3 months in operation. Troy expects faster growth as he enters a busy season. Following is a list of transactions for the month of October. Petty Cash account #1010 and Miscellaneous Expense account #5100 have been added to the chart of accounts. Paid rent for November, December, and January, $1,500 (check no. 8108). Established a petty cash fund for $300. Oct. 1 2 4 Collected $4,600 from a cash customer for building five systems. 5 Collected $2,700, the amount due from Dr. Michael Turiono's invoice no. 12674, customer on account. 6 7 Purchased $40 worth of stamps using petty cash voucher no. 101. Withdrew $900 (check no. 8109) for personal use. 12 26 16 17 8 222 23 30 31 Purchased $25 worth of supplies using petty cash voucher no. 102. Paid the newspaper carrier $15 using petty cash voucher no. 103. Paid the amount due on the August phone bill, $35 (check no. 8110). (Recorded on Sept. 20) Paid the amount due on the August electric bill, $85 (check no. 8111). (Recorded on Sept. 22) Performed computer services for Viral Video: billed the client $5,400 (invoice no. 12675). Paid $20 for computer paper using petty cash voucher no. 104. Took $15 out of petty cash for lunch, voucher no. 105. Replenished the petty cash. Coin and currency in drawer total $185. Because Troy was so busy trying to close his books, he forgot to reconcile his last 3 months of bank statements. A list of all deposits and checks written for the past 3 months (each entry is identified by chapter, transaction date, or transaction letter) and the bank state- ments for July through September are provided. The statement for October won't arrive until the first week of November. Assignment 1. Record the transactions in general journal and auxiliary petty cash record. 2. Post the transactions to the general ledger accounts. 3. Prepare a trial balance. 4. Compare the Suarez Computer Center's deposits and checks with the bank state- ments and complete a bank reconciliation as of September 30, 201X. ng Procedures and Control of Cash Suarez Computer Center Summary of Deposits and Checks Deposits Chapter Transaction Payor/Payee Amount $12,500 1 Troy Falco 1,000 Cash customer 1,400 1 1 Viral Video 700 9 Cash customer D Cash customer 1,400 3 Sept. 2 Tonya Parker Jones 420 150 Sept. 6 Lilly Life Sept. 12 Erin Caffrey 1,100 Sept. 26 Howard Trale 750 Checks Chapter Transaction Check # Payer/Payee Amount 1 b 8095 Hardware Haven, Inc. $1,260 1 C 8096 In Office Furniture, Inc. 1,500 1 e 8097 Chapin Corp. 800 1 8098 Troy Falco 1,500 2 8099 Insurance Protection, Inc. 300 2 8100 Nuts and Bolts 50 2 8101 Computer Edge Magazine 500 2 9 8102 San Diego Electric 100 2 8103 U.S. Postmaster 20 3 Sept. 1 8104 Chapin Corp. 1,500 Sept. 8 8105 Pacific Bell USA 200 3 Sept. 15 8106 The Computer Store 500 Sept. 17 8107 Hardware Haven, Inc. 2,100 Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Suarez Computer Center Statement Date: July 22, 201X Checks Pald: Deposits and Credits: Date paid Number Amount Date received Amount 7-4 8095 1,260.00 7-1 12.500.00 7-7 8096 1,500.00 7-10 1,000.00 7-15 8097 800.00 7-201 1,400.00 7-21 700.00 Total 3 checks paid for $3.560.00 Ending balance on July 22-$12,040.00 Received statement July 29, 201X Total Deposits $15,600.00 Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Suarez Computer Center Statement Date: August 21, 201X Checks Paid: Deposits and Credits: Date paid Number Amount 8-2 8098 1,500.00 8-3 8099 300.00 Pay Date received Amount 8-12 1,400.00 8-10 8100 50.00 8-15 8101 500.00 8-20 8102 100.00 Total 5 checks paid for $2,450.00 Beginning balance on July 22-$12,040.00 Received statement August 27, 201X. Beginning Total Deposits $1,400.00 Ending balance on August 21-$10,990.00 Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Suarez Computer Center Checks Paid: Statement Date: September 20, 201X Deposits and Credits: Date paid Number Amount Date received Amount 9-2 8103 20.00 9-4 420.00 9-6 8104 1,500.00 9-7 150.00 9-12 8105 200.00 9-14 1,100.00 Total Deposits $1,670.00 Total 3 checks paid for $1,720.00 Beginning balance on August 21 $10,990.00 Received statement September 20, 201X. Ending balance on September 20 $10,940.00