on January 1, Pulse recording studio had the following account balances. prepare the bank reconciliation, (if possible please explain how you got the answers)

omework Assignment Saved On January 1, Pulse Recording Studio (PRS) had the following account balances Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Cash Equivalents Common Stock Deferred Revenue Equipment Notes Payable (long-term) Prepaid Rent Retained Earnings Supplies $ 8,400 7,100 6,000 3,680 1,500 10,000 4,000 30,600 12,200 2,880 5,670 510 The following transactions occurred during January a. Received $2,480 cash on 11 from customers on account for recording services completed in December, b. Wrote checks on 1/2 totaling $4,080 for amounts owed on account at the end of December c. Purchased and received supplies on account on 1/3, at a total cost of $200. d. Completed $4,000 of recording sessions on 1/4 that customers had paid for in advance in December. e. Received $4,900 cash on 1/5 from customers for recording sessions started and completed in January, 1. Wrote a check on 1/6 for $4,000 for an amount owed on account. 9. Converted $1,030 of cash equivalents into cash on 1/7. h. On 1/15, completed EFTs for $1,470 for employees' salaries and wages for the first half of January 1. Received $2,910 cash on 131 from customers for recording sessions to start in February Required: 1. Prepare journal entries for the January transactions. Review the 'General Ledger' and the unadjusted Trial Balance' Tabs to see th effect of the transactions on the account balances 2. Prepare journal entries for items (1)-(n) from the bank reconciliation. J. The bank deducted $510 for an NSF check from a customer deposited on January 5. k. The check written January 6 has not cleared the bank, but the January 2 payment has cleared. 1 h. On 1/15, completed EFTs for $1,470 for employees' salaries and wages for the first half of January Received $2,910 cash on 1/31 from customers for recording sessions to start in February Required: Book Print 1. Prepare journal entries for the January transactions. Review the 'General Ledger and the unadjusted 'Trial Balance' Tabs to see the effect of the transactions on the account balances 2. Prepare journal entries for items -in) from the bank reconciliation J. The bank deducted $510 for an NSF check from a customer deposited on January 5. k. The check written January 6 has not cleared the bank, but the January 2 payment has cleared L. The cash received and deposited on January 31 was not processed by the bank until February 1, m. The bank added $4 cash to the account for interest earned in January n. The bank deducted $4 for service charges. 3. Prepare adjusting journal entries on 1/31 in 'General Journal Tab. (these are shown as items 15-21. o. Depreciation for the month is $180 p. Salaries and wages totaling $1,700 have not yet been recorded for January 16-31 9. Prepaid Rent will be fully used up by March 31. 1. Supplies on hand at January 31 were $500. s. Received $500 invoice for January electricity charged on account to be paid in February but is not yet recorded t. Interest on the promissory note of $57 for January has not yet been recorded or paid. u. Income tax of $900 on January income has not yet been recorded or paid. 4. Review the adjusted 'Trial Balance' as of January 31. 5. Prepare an income statement for the period ended January 31 in the income Statement' Tab. 6. Prepare a bank reconciliation in the 'Bank Reconciliation' Tab. 7. Prepare a classified balance sheet as of January 31 in the Balance Sheet' Tab. 8. Using the information from the requirements above, complete the Analysis'tab. General Journal General Ledger Analysis Requirement Bank Reconciation Income Statement Trial Balance Balance Sheet Use the January 31 balance in Cash from General Ledger tab and the information )-(n) to prepare a bank reconciliation PRS's bank reported a January 31 balance of $6,030. Adjusted Pulse Recording Studio nuWIN PASSIV Sarved Help Save & Exit Chech General Requirement General Income Bank Journal Ledger Trial Balance Statement Reconcilation Balance Sheet Analysis Use the January 31 balance in Cash from General Ledger tab and the information ()-(n) to prepare a bank reconciliation, PRS's bank reported a January 31 balance of $6,030. Adjusted Pulse Recording Studio Bank Reconciliation At January 31 Company's Books 6.030 Ending balance per Cash account Additions: 2,480 Interest Eamed $ $ Bank Statement Ending balance per bank statement Additions: Deposit in Transit 5,450 8,510 5,454 Deductions: Outstanding Checks 4,000 Deductions: Bank Service Charges NSF Check 510 514 $ $ 4,510 Up-to-date cash balance Up-to-date cash balance 4,940 (income Statement Balance Sheet > omework Assignment Saved On January 1, Pulse Recording Studio (PRS) had the following account balances Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Cash Equivalents Common Stock Deferred Revenue Equipment Notes Payable (long-term) Prepaid Rent Retained Earnings Supplies $ 8,400 7,100 6,000 3,680 1,500 10,000 4,000 30,600 12,200 2,880 5,670 510 The following transactions occurred during January a. Received $2,480 cash on 11 from customers on account for recording services completed in December, b. Wrote checks on 1/2 totaling $4,080 for amounts owed on account at the end of December c. Purchased and received supplies on account on 1/3, at a total cost of $200. d. Completed $4,000 of recording sessions on 1/4 that customers had paid for in advance in December. e. Received $4,900 cash on 1/5 from customers for recording sessions started and completed in January, 1. Wrote a check on 1/6 for $4,000 for an amount owed on account. 9. Converted $1,030 of cash equivalents into cash on 1/7. h. On 1/15, completed EFTs for $1,470 for employees' salaries and wages for the first half of January 1. Received $2,910 cash on 131 from customers for recording sessions to start in February Required: 1. Prepare journal entries for the January transactions. Review the 'General Ledger' and the unadjusted Trial Balance' Tabs to see th effect of the transactions on the account balances 2. Prepare journal entries for items (1)-(n) from the bank reconciliation. J. The bank deducted $510 for an NSF check from a customer deposited on January 5. k. The check written January 6 has not cleared the bank, but the January 2 payment has cleared. 1 h. On 1/15, completed EFTs for $1,470 for employees' salaries and wages for the first half of January Received $2,910 cash on 1/31 from customers for recording sessions to start in February Required: Book Print 1. Prepare journal entries for the January transactions. Review the 'General Ledger and the unadjusted 'Trial Balance' Tabs to see the effect of the transactions on the account balances 2. Prepare journal entries for items -in) from the bank reconciliation J. The bank deducted $510 for an NSF check from a customer deposited on January 5. k. The check written January 6 has not cleared the bank, but the January 2 payment has cleared L. The cash received and deposited on January 31 was not processed by the bank until February 1, m. The bank added $4 cash to the account for interest earned in January n. The bank deducted $4 for service charges. 3. Prepare adjusting journal entries on 1/31 in 'General Journal Tab. (these are shown as items 15-21. o. Depreciation for the month is $180 p. Salaries and wages totaling $1,700 have not yet been recorded for January 16-31 9. Prepaid Rent will be fully used up by March 31. 1. Supplies on hand at January 31 were $500. s. Received $500 invoice for January electricity charged on account to be paid in February but is not yet recorded t. Interest on the promissory note of $57 for January has not yet been recorded or paid. u. Income tax of $900 on January income has not yet been recorded or paid. 4. Review the adjusted 'Trial Balance' as of January 31. 5. Prepare an income statement for the period ended January 31 in the income Statement' Tab. 6. Prepare a bank reconciliation in the 'Bank Reconciliation' Tab. 7. Prepare a classified balance sheet as of January 31 in the Balance Sheet' Tab. 8. Using the information from the requirements above, complete the Analysis'tab. General Journal General Ledger Analysis Requirement Bank Reconciation Income Statement Trial Balance Balance Sheet Use the January 31 balance in Cash from General Ledger tab and the information )-(n) to prepare a bank reconciliation PRS's bank reported a January 31 balance of $6,030. Adjusted Pulse Recording Studio nuWIN PASSIV Sarved Help Save & Exit Chech General Requirement General Income Bank Journal Ledger Trial Balance Statement Reconcilation Balance Sheet Analysis Use the January 31 balance in Cash from General Ledger tab and the information ()-(n) to prepare a bank reconciliation, PRS's bank reported a January 31 balance of $6,030. Adjusted Pulse Recording Studio Bank Reconciliation At January 31 Company's Books 6.030 Ending balance per Cash account Additions: 2,480 Interest Eamed $ $ Bank Statement Ending balance per bank statement Additions: Deposit in Transit 5,450 8,510 5,454 Deductions: Outstanding Checks 4,000 Deductions: Bank Service Charges NSF Check 510 514 $ $ 4,510 Up-to-date cash balance Up-to-date cash balance 4,940 (income Statement Balance Sheet >