Prepare bank reconciliation and adjusting entries

The information below relates to the Cash account in the ledger of Minton Company.

Balance September 1 - $17,150, Cash deposited - $64,000.

Balance September 30 - $17,404; Checks written - $63,746.

The September bank statement shows a balance of $16,422 on September 30 and the following memoranda.

Credits

Collection of $2,500 note plus interest $30 $2,530

Interest earned on checking account $45

Debits

NSF check: Richard Nance$425

Safety deposit box rent$65

At September 30, deposits in transit were $5,450 and outstanding checks totaled $2,383.

Instructions:

1. Prepare the bank reconciliation at September 30. Value 18 pts.
2. Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. Value 18 pts.

1 4 A D E H Prepare bank reconciliation and adjusting entries KI 2 The information below relates to the Cash account in the ledger of Minton Company 3 Balance September 1 - 517,150 Cash deposited - $64,000 Balance September 30 - $17.404; Checks written - $63,746. 5 6 The September bank statement shows a balance of $16,422 on September 30 and the following memoranda. 7 Credits Debits 8 Collection of $2,500 note plus interest $30 $2,530 NSF check: Richard Nance $425 9 Interest earned on checking account $45 Safety deposit box rent $65 10 11 At September 30, deposits in transit were $5,450 and outstanding checks totaled $2,383 12 13 Instructions: 14 (a) Prepare the bank reconciliation at September 30. Value 18 pts 15 (6) Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a 16 customer on account, and (2) no interest had been accrued on the note Value 18 pts. 17 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". 18 19 20 21 (a) Prepare the bank reconciliation at September 30 22 23 Insert the name of the company 24 Bank Reconciliation 25 insert the date 26 Cash balance per bank statement Value 27 28 29 1 (a) Prepare the bank reconciliation at September 30 2 3 4 Insert the name of the company Bank Reconciliation insert the date Cash balance per bank statement 5 0) Value 7 8 9 1 Adjusted cash balance per bank 2 Cash balance per books Value 4 Adjusted cash balance per books 5 6 #7 18 19 10 11 12 (6) 13 14 45 76 #7 Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. Value Sept 30 Account Account Account Chapter 8 Value Value + Ready 2 38 39 Adjusted cash balance per books 40 41 42 (b) Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a 43 customer on account, and (2) no interest had been accrued on the note. 44 45 Sept 30 Account Value 46 Account Value 47 Account Value 48 49 50 30 Account Value 51 Account Value 52 53 54 30 Account Value 55 Account Value 56 57 30 Account Value 58 Account Value 59 60 61 Prepare petty cash journal entries 62 63 Maletto's Company maintains a petty cash fund for small expenditures. The followong transactions occurred over a 64 two month period. 65 Clitor A F G K M H Value 58 Account 59 60 61 Prepare petty cash journal entries 62 63 Maletto's Company maintains a petty cash fund for small expenditures. The followong transactions occurred over a 64 two month period. 65 66 67 1-Jan Established petty cash fund by writing a check on Moany's Bank for $200. 68 15-Jan Replenished the petty cash fund by writing a check, on this date the fund consisted of $3.50 in cash and the 69 following petty cash receipts: freight out $95.00, postage expense $45.00, entertainment expense 70 for $55.00 and charitable contribution expense for $10.00 71 30-Jan Replenished the petty cash fund by writing a check, on this date the fund consisted of $7.75 in cash and the 72 following petty cash receiptsfreight out $59.00, entertainment expense $75.00, postage expense 73 for $50.00 and miscellaneous expense for $6.50 74 4-Feb Increased the amount of the petty cash fund to $450 by wruting a check 75 18-Feb Replenished the petty cash fund by writing a check, on this date the fund consisted of $10.00 in cash and the 76 following petty cash receipts: entertainment expense $40.00, freight out $25.00, miscellaneous expense 77 for $40.00, charitable contribution expense for $35.00, and postage expensefor $45.00 78 Instructions: 79 Journalize the petty cash transactions Value 40 pts 80 81 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" 82 83 84 85 Journalize the petty cash transactions 86 Chapter 8 Ready o A F G B D Journalize the petty cash transactions H 1-Jan Account Account Value Value 15 Account Account Account Account Account Value Value Value Value Value 30 Account Account Account Account Account Value Value Value Value Value Value 4-Feb Account Account Value CO Account Account Account Account Account Account Value Value Value Value Value Value Chapter 8 ady