Question 2 View Policies Current Attempt in Progress Shamrock, Inc.'s bank statement from Main Street Bank at August 31, 2017, gives the following information Balance, August 1 August deposits Checks cleared in August Bank credit memorandum: Interest earned $18,550 Bank debit memorandum: 71,150 Safety deposit box fee $60 68,643 Service charge 85 Balance, August 31 20,992 80 A summary of the Cash account for August shows the following: balance, August 1, $18,850; receipts $74,150, disbursements $73,535; and balance, August 31, $19,465. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,835 and outstanding checks of $4,535. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was recorded for $40. Doterrine deposits in transit. Scanned with CamScanner Deposits in transit $ 7835 Prepare a tabular analysis for the adjustments to be made by Shamrock, Inc. at August 31. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Stockholders' Equity Liabilities Accts. Pay. Cash Rev. Exp. ug. 31 Miscellaneous expense Bank charges expense Interest revenue Sales revenue cs Scanned with CamScanner elcamuok and Media Assistance Used This information relates to the Cash account for Sheridan Company. Balance September 1-$18,810; Cash deposited - $64,000 Balance September 30-$20,010; Checks written-$62,800 The September bank statement shows a balance of $18,910 at September 30 and the following memoranda. Credits Collection of electronic funds transfer $2,020 Interest earned on checking account 55 Debits NSF check: H. Kane Safety deposit box rent $750 70 At September 30, deposits in transit were $4,938 and outstanding checks totaled $2,583. CS Scanned with CamScanner Prenare the han reconciliation at Cantambaran 2017 le lame that Imenagea balanca nar bank banlie Liabilities Stockholders' Equity Accts. Rec. Cash Rev. CS Scanned with CamScanner e Textbook and Media