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PLEASE ANSWER QUESTIONS 1. 2. and 3. The cash account for Stone Systems at July 31, 20Y5, indicated a bolance of 57,540 . The bank

PLEASE ANSWER QUESTIONS 1. 2. and 3. image text in transcribed
image text in transcribed
image text in transcribed
The cash account for Stone Systems at July 31, 20Y5, indicated a bolance of 57,540 . The bank statement indicated a balance of 310,170 on July 31,20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstandine totaled $3,660. b. A deposit of 33,810, representing receipes of July 31, had been made too late to appear on the bank statement. c. The bank had collected $1,980 on a note ieft for coliection. The face of the note was $1,880, d. A check for $500 returned with the statement had been incorrectly recorded by stone Systems as 3550 . The check was for the payment of an obilgation to Holland Ca. for the purchase of office supplies on account. e. A check drawn for $900 had been incorrectly charged by the bank as $90. 4. Bank service charges for July amounted to $60. 1. Prepare a bank reconciliation. Stone Systems Bank Reconciliation July 31,20Y5 Cash balance according to bank statement Total deductions Adjusted balance Cash balance according to company's records Adjustments: Total additions Adjusted balance 3. If a balance sheet were prepared for Stone Systems on July 31, 20y5, what amount should be reported as cast

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