please help

Great Adventures Problem AP4-1

An examination of the cash activities during the year shows the following.

GREAT ADVENTURES

Cash Account Records

July 1, 2021, to December 31, 2021

Cash Receipts Cash Disbursements

Date Desc. Amount Date Check# Desc. Amount

7/1 Stock sale $ 25,000 7/1 101 Insurance $ 3,720

7/15 Clinic receipts 2,000 7/2 102 Legal fees 1,050

7/22 Clinic receipts 1,840 7/7 DC Advertising 210

7/30 Clinic receipts 5,500 7/8 103 Bikes 11,100

8/1 Borrowing 21,000 7/24 DC Advertising 610

8/10 Clinic receipts 4,000 8/4 104 Kayaks 15,400

8/17 Clinic receipts 11,200 8/24 DC Office supplies 1,710

9/21 Clinic receipts 12,300 9/1 105 Rent 1,320

10/17 Clinic receipts 17,000 12/8 106 Race permit 1,110

12/15 Race receipts 12,000 12/16 107 Salary 1,800

12/31 108 Dividend 2,500

12/31 109 Dividend 2,500

$ 111,840 $ 43,030

Summary of Transactions

Beginning Ending

Cash Balance Cash Balance

July 1, 2021 + Cash Receipts Cash Disbursements = December 31, 2021

$ 0 $ 111,840 $ 43,030 $ 68,810

Suzie has not reconciled the companys cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month.

SUMMIT BANK Member FDIC

Leading You to the Top

Account Holder: Great Adventures, Inc. Account Number: 1124537774

Statement Date: Dec. 31, 2021

Account Summary

Beginning Balance Deposits and Credits Withdrawals and Debits Ending Balance

July 1, 2021 No Total No Total December 31, 2021

$0 8 $100,240 11 $36,530 $63,710

Account Details

Deposits and Credits Withdrawals and Debits Daily Balance

Date Amount Desc. Date No. Amount Desc. Date Amount

7/1 $ 25,000 DEP 7/1 101 $ 3,720 CHK 7/1 $ 21,280

8/1 9,340 DEP 7/7 102 1,050 CHK 7/7 20,020

8/1 21,000 DEP 7/7 210 DC 7/14 8,920

9/1 15,200 DEP 7/14 103 11,100 CHK 7/24 8,310

9/30 300 INT 7/24 610 DC 8/1 38,650

10/1 12,300 DEP 8/9 104 15,400 CHK 8/9 23,250

11/1 17,000 DEP 8/24 1,710 DC 8/24 21,540

12/31 100 INT 9/2 105 1,320 CHK 9/1 36,740

9/30 150 SF 9/2 35,420

12/10 106 1,110 CHK 9/30 35,570

12/31 150 SF 10/1 47,870

11/1 64,870

12/10 63,760

$ 100,240 $ 36,530 12/31 $ 63,710

Desc. DEP Customer deposit INT Interest earned SF Service fees

CHK Customer check DC Debit card

After comparing the two balances, Suzie has some concern because the banks balance of $63,710 is substantially less than the companys balance of $68,810.

2-a. Prepare Great Adventures bank reconciliation for the six-month period ended December 31, 2021. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.

12 2. Prepare Great Adventures a reconciation to the six montrenos ended December (Amounts to be to should be indicated with a minus sign. Total entries to the same account together when entering in the bank recondition) Bank's Cash Balance Pergament Deco Danding O Outstanding GREAT ADVENTURES INC Become December Company's Cash Balance 30.10 Per General Ledger 5 25.000 Interest med 38.800 Bank Reconciation Company Bee Per Recoration ce 2.-6. Record any necessary entries to adjust cash ne entry is required for transaction event, select "No Journal Entry Required In the first account field. Total entries to the same account together when entering in the mal entry Carousel View transaction Journal entry worksheet