! Requlred Information [The following information applies to the questions displayed below.) On October 31, 2018, the bank statement for the checking account of Blockwood Video shows a balance of $12.818. while the company's records show a balance of $12,326. Information that might be useful in preparing a bank reconciliation is as follows: a. Outstanding checks are $1.225. b. The October 31 cash receipts of $780 are not deposited in the bank until November 2. c. One check written in payment of utilities for $136 is correctly recorded by the bank but is recorded by Blockwood as a disbursement of $163. d. In accordance with prior authorization, the bank withdraws $449 directly from the checking account as payment on a note payable. The interest portion of that payment is $49 and the principal portion is $400. Blockwood has not recorded the direct withdrawal. e. Bank service fees of $23 are listed on the bank statement. f. A deposit of $566 is recorded by the bank on October 13, but it did not belong to Blockwood. The deposit should have been made to the checking account of Hollybuster Video. a separate company. 9. The bank statement includes a charge of $74 for an NSF check. The check is retumed with the bank statement, and the company will seek payment from the customer. Required: 1. Prepare a bank reconciliation for the Blockwood checking account on October 31, 2018. (Amounts to be deducted should be Indicated with a minus sign.) Bank's Cash Balance Per bank statement Deposits outstanding Checks outstanding Bank error Answer is not complete. BLOCKWOOD VIDEO Bank Reconciliation October 31, 2018 Company's Cash Balance Per general ledger Bank error NSF check Interest on note (EFT) Service fees lo Bank balance per reconciliation Company balance per reconciliation 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No journal entry required" In the first account fleld.) Answer is not complete. No Transaction General Journal Debit Credit 1 1 Cash 27 Utilities expense 27 Required information The following information applies to the questions displayed below! The cash records and bank statement for the month of July for Glover incorporates are shown below. GLOVER INCORPORATED Cash Account Records July 1, 2018 to July 31, 2018 Cash B. once Cash Balance July 1 2018 - Deports Check July 31, 2018 $6.950 $9.300 $9,500 $6,650 Deposits Check Date Desc Amount Date No. Desc Amount 79 7/21 7/31 Sales $2.520 Sales 3.100 Sales 2.680 717 531 7/12 532 779 533 722 534 7/30 535 Rent Salaries Equipment Utes Advertising $ 1,460 1.920 3.100 860 1.260 $9,300 $ 9,600 PO Box 123970 Gotebo, OK 73041 530 577-KIE FIDELITY UNION You Can Bank On U: Member FDIC Account Holder 2252790471 Glover Incorporated 519 Main Street Gotebo, OK 73041 Account Number: Statement Date: July 31, 2010 Beginning Balance Withdrawals and Debits Deposits and Credits Ending Balance July 1 2018 No. Tota No. Tots July 31, 2018 $ 7.500 3 $ 5,666 7 S8.396 $ 4,770 Deposits and Credits Withdrawals and Debits Daily Balance Date Amount Desc Date No. Amount Desc Date Amount 530 710 722 731 $ 2.520 3.100 46 DEP DEP INT 531 72 70 7714 718 722 552 $ 550 1.460 1.920 360 3,600 460 46 CHK CHK CHK NSF CHK 72 770 7/14 718 7/22 7/26 7/30 $6.950 0.010 6,090 5730 5.230 4770 4724 533 7/26 EFT 7/30 SF S 5.666 S8.396 7/31 $ 4770 Desc. DEP Customer deposit NOTE Note collected EFT Electronic funds transfer INT Interest eamed SF Service fees CHK Customer check NSF Nonsufficient funds Additional Information .. The difference in the beginning balances in the company's records and the bank statement relates to check=530, which is outstanding as of June 30, 2018 b. Check -533 correctly processed by the bank c. The EFT on July 26 relates to the purchase of office supplies Required: 1. Prepare a bank reconciliation for Glover's checking account on July 31, 2018. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. GLOVER INCORPORATED Bank Reconciliation July 31, 2018 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Deposits outstanding 2,680 Company error Checks outstanding Interest earned NSF check Service fees Office supplies Blolololo Bank balance per reconciliation Company balance per reconciliation 2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the entries that increase cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal