Recording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts a. Established a petty cash fund of $500 Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Statement of Cash Flows Income Statement b. The amount of cash in the petty cash fund is now $45. Replenished the fund, based on the following summary of petty cash receipts: office supplies purchased miscellaneous selling expense, $190; miscellaneous administrative expense, $90. Enter account decreases and cash outflows as negative amounts Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Statement of Cash Flows Income Statement Statement of Cash Income Assets Liabilities + Stockholders' Equityy Flows Statement Statement of Cash Flows Income Statement b. The amount of cash in the petty cash fund is now $45. Replenished the fund, based on the following summary of petty cash receipts: office supplies p miscellaneous selling expense, $190; miscellaneous administrative expense, $90. Enter account decreases and cash outflows as negative amounts Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Statement of Cash Flows Income Statement Bank Reconciliation and Entries The cash account for Deaver Consulting at October 31 206 indicated a balance of $12.210 The bank statement in cated a balance of 1 2 n Octobe31 2 Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,490. b. A deposit of $5,720, representing receipts from October 31, had been made too late to appear on the bank statement. c. The bank had collected $2,980 on a note left for collection. The face of the note was $2,820. d. A check for $440 returned with the statement had been incorrectly recorded by Deaver Consulting as $400. The check was for the payment of an obligation to Oxford Office Supplies Co. for the purchase of office supplies on account. e. A check drawn for $450 had been incorrectly charged by the bank as $50. f. Bank service charges for October amounted to $60 Instructions: 1. Prepare a bank reconciliation Deaver Consulting Bank Reconciliation October 31, 20Y6 15,260 Cash balance according to bank statement Add: Deposit of October 31, not recorded by bank 5,720 Adjusted balance Cash balance according to Deaver Consulting Deaver Consulting Bank Reconciliation October 31, 20Y6 Cash balance according to bank statement Add: Deposit of October 31, not recorded by bank 15,260 5,720 Adjusted balance Cash balance according to Deaver Consulting Adjusted balance 2. Illustrate the effects on the accounts and financial statements of the bank reconciliation. If no account or activity is affected, select "No effect" from t leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Increase in Cash: Balance Sheet Statement of Cash Income -Liabilities+ Assets + Stockholders' Equity Flows Statement 2. Illustrate the effects on the accounts and financial statements of the bank reconciliation. If no account or activity is affected, select "No effect" from th leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts Increase in Cash: Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Decrease in Cash: Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Decrease in Cash: Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Recording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts a. Established a petty cash fund of $500 Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Statement of Cash Flows Income Statement b. The amount of cash in the petty cash fund is now $45. Replenished the fund, based on the following summary of petty cash receipts: office supplies purchased miscellaneous selling expense, $190; miscellaneous administrative expense, $90. Enter account decreases and cash outflows as negative amounts Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Statement of Cash Flows Income Statement Statement of Cash Income Assets Liabilities + Stockholders' Equityy Flows Statement Statement of Cash Flows Income Statement b. The amount of cash in the petty cash fund is now $45. Replenished the fund, based on the following summary of petty cash receipts: office supplies p miscellaneous selling expense, $190; miscellaneous administrative expense, $90. Enter account decreases and cash outflows as negative amounts Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Statement of Cash Flows Income Statement Bank Reconciliation and Entries The cash account for Deaver Consulting at October 31 206 indicated a balance of $12.210 The bank statement in cated a balance of 1 2 n Octobe31 2 Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,490. b. A deposit of $5,720, representing receipts from October 31, had been made too late to appear on the bank statement. c. The bank had collected $2,980 on a note left for collection. The face of the note was $2,820. d. A check for $440 returned with the statement had been incorrectly recorded by Deaver Consulting as $400. The check was for the payment of an obligation to Oxford Office Supplies Co. for the purchase of office supplies on account. e. A check drawn for $450 had been incorrectly charged by the bank as $50. f. Bank service charges for October amounted to $60 Instructions: 1. Prepare a bank reconciliation Deaver Consulting Bank Reconciliation October 31, 20Y6 15,260 Cash balance according to bank statement Add: Deposit of October 31, not recorded by bank 5,720 Adjusted balance Cash balance according to Deaver Consulting Deaver Consulting Bank Reconciliation October 31, 20Y6 Cash balance according to bank statement Add: Deposit of October 31, not recorded by bank 15,260 5,720 Adjusted balance Cash balance according to Deaver Consulting Adjusted balance 2. Illustrate the effects on the accounts and financial statements of the bank reconciliation. If no account or activity is affected, select "No effect" from t leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Increase in Cash: Balance Sheet Statement of Cash Income -Liabilities+ Assets + Stockholders' Equity Flows Statement 2. Illustrate the effects on the accounts and financial statements of the bank reconciliation. If no account or activity is affected, select "No effect" from th leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts Increase in Cash: Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Decrease in Cash: Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement Decrease in Cash: Balance Sheet Statement of Cash Income Assets Liabilities + Stockholders' Equity Flows Statement Oct. 31 Statement of Cash Flows Income Statement