Proof of Cash Sherman School District

• You are currently performing an audit of the Sherman School District and the Engagement Partner assigned you the task of performing the October 2020 Proof of Cash
• You have obtained the following information:
  • Balance per Bank, September 30 = $6,915
  • Balance per Bank, October 31 = $8,276
  • Outstanding checks at September 30 = $1,811
  • Outstanding checks at October 31 = $2,615
  • Cash Deposits for October Bank = $28,792
  • Cash Deposits for October Book = $? (You have to calculate)
  • Deposit in Transit, September = $5,621
  • Deposit in Transit, October = $996
  • Checks & Charges, per Bank = $27,431
  • Checks & Charges, per book = $? (You have to calculate)
  • Interest on bank loan for the month of October, charged by the bank in October but not entered on Books until November, $596. Sherman School District is paying the interest to the bank.
  • Proceeds of a note of Jones Company was collected by the bank on October 26^th, but not entered on the books until November, $3,296. This was an increase in cash.
  • On October 24^th, a $1,144 check of Billings Company was charged to the Sherman School Districts account in error (Bank pulled $1,144 from Shermans account in error) - Bank notified and corrected error in November
  • NSF checks are not recorded on the books unless they permanently fail to clear the bank. The bank treats them as disbursements when dishonored and deposits when they are redeposited. Checks totaling $1,335 were dishonored in October; $600 were re-deposited and cleared on October and $735 were re-deposited and cleared in November.
• REQUIRED: Prepare the four-column proof of cash on the next page
• 

• If its a negative number on the Proof of Cash, make sure you make it a negative number on the answers below.

  If the answer is $0, make sure you put $0, dont leave it blank. Blank answers will be marked wrong.

Sherman School District - Proof of Cash - October 31, 200X October Activity Balance 9/30/ex Deposits Checks & Charges Balance 10/31/ox lance per Bank Statement #1 #2 #3 #4 eposit in Transit + 9/30/0x #5 #6 #7 at 10/21/0x #8 #9 utstanding Check t9/30/0x #10 #11 #12 at 10/21/0x #13 #14 terest on Bank Loan #15 #16 oceeds from Jones Note #17 #18 neckerror #19 #20 SF Check Activity #21 #22 #23 lance per Book #24 #25 #26 #27 Question Number 2