P5-75B

344 Chapter 5 Internal Control, Cash, and Receivables related journal ring Associates has just a P5-73B (Learning Objective entries) The October 31 bank statement of Dunlap Enge from Carolina First Bank. To prepare the Dunlap bank 3: Preparing a bank reconciliation and the k reconciliation, you gather the follows a. Dunlap's Cash account shows a balance of 7,605 b. The October 31 bank balance is 8,343.87 c. The bank statement shows that Dunlap earned 15.45 of interest on its bank data .86 on October 31 balance. during October. This amount was added to Dunlap's bank d. Dunlap pays utilities (Ee77o) and insurance (250) by EFT e. The following Dunlap cheques did not clear the bank by October 31 Amount Cheque Ne. 237 288 291 293 294 295 296 403.15 78,98 36.39 155.45 234.00 47.50 106.79 f. The bank statement includes a deposit of 915.20, collected on account by the bank on behalf of Dunlap &. The bank statement lists a 6.25 bank service charge h. On October 31, the Dunlap treasurer deposited 380.50, which will appear on the i. The bank statement includes a 405.00 deposit that Dunlap did not make. The bank j. The bank statement includes two charges for returned cheques from cust November bank statement. added 405.00 to Dunlap's account for another company's deposit. One is a 185.50 cheque received from a customer with the imprint "Unauthorized Signature. " The other is a nonsufficient funds cheque in the amount of 67.65 received from another customer Requirements I. Prepare the bank reconciliation for Dunlap Engineering Associates. 2. Joumalize the October 31 transactions needed to update Dunlap's Cash account. Include an explanation for each entry P5-74B (Learning Objective 3: Preparing a cash budget and using cash-flow information Don Beecher, chief financial officer of Carvel Wireless, is responsible for the company's budgeting process. Beecher's staff is preparing the Carvel cash budget for 20X7. A key input to the budgeting process is last year's statement of cash flows, which follows (amount in thousands)