Problem 9.4A (Static) Preparing a bank reconciliation statement and journalizing entries to adjust the cash balance. LO 9-5, 9-6 On August 31, 20x1, the balance in the checkbook and the Cash account of the Sonoma Creek Bed and Breakfast was $13,031. The balance shown on the bank statement on the same date was $13,997 Notes a. The firm's records indicate that a $1,600 deposit dated August 30 and a $601 deposit dated August 31 do not appear on the bank statement b. A service charge of $28 and a debit memorandum of $230 covering an NSF check have not yet been entered in the firm's records (The check was issued by Andy Stein, a credit customer) c. The following checks were issued but have not yet been paid by the bank: Check 712, Check 713, Check 716, Check 736, Check 739, Check 741, $120 $130 $25e $577 $ 78 $120 d. A credit memorandum shows that the bank collected a $2,095 note receivable and interest of $55 for the firm. These amounts have not yet been entered in the firm's records Help Save & Exit Submit 10 Check my wOR d. A credit memorandum shows that the bank collected a $2,095 note receivable and interest of $55 for the firm. These amounts have not yet been entered in the firm's records Required: 1. Prepare a bank reconciliation statement for the firm as of August 31, 2. Record general journal entries for items on the bank reconciliation statement that must be journalized. Analyze: What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Complete this question by entering your answers in the tabs below. Bank Rec General Journal Analyze Prepare a bank reconciliation statement for the firm as of August 31. SONOMA CREEK BED AND BREAKFAST Bank Reconciliation Statement August 31, 20X1 SONOMA CREEK BED AND BREAKFAST Bank Reconciliation Statement August 31, 20X1 Balance on bank statement Additions: 1 Deductions: Total deductions Total deductions Adjusted bank balance Balance in books Additions: ook nt ences Deductions: Adjusted book balance Record the deposit in transit. 2 Record the note collected by the bank plus interest. 3. Record the returned check. 4 Record the outstanding checks. Cre 5 Record the bank service fee. Journal entry worksheet 1 2 2 3 3 4 5 Record the deposit in transit. Note: Enter debits before credits. Date General Journal Debit Credit Aug. 31, 20X1 View general journal Record entry Clear entry What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Complete this question by entering your answers in the tabs below. Bank Rec General Journal Analyze What effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation? Net effect by
