Shamrock, Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information.

Balance, August 1 $18,550 Bank debit memorandum:

August deposits $71,150 Safety deposit box fee $60

Checks cleared in August $68,643 Service charge $85

Bank credit memorandum: Balance, August 31 $ 20,992

Interest earned $80

A summary of the Cash account in the ledger 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 $4,835and outstanding checks of $4,535. In addition, you determine that there was an error involving a company check drawn in August: A check for $400to a creditor on account that cleared the bank in August was journalized and posted for $40.

Determine deposits in transit.

Deposits in transit------?

Determine outstanding checks. (Hint: You need to correct disbursements for the check error.)

Outstanding checks -----?

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Make a bank reconciliation at August 31. (List items that increase balance as per bank & books first.)

SHAMROCK, INC.

Bank Reconciliation

choose the accounting period

select an opening name for section one

$enter a dollar amount

select between addition and deduction

:

select a reconciling item

enter a dollar amount

enter a subtotal of the two previous amounts

select between addition and deduction

:

select a reconciling item

enter a dollar amount

select a closing name for section one

$enter a total amount for the first section

select an opening name for section two

$enter a dollar amount

select between addition and deduction

:

select a reconciling item

enter a dollar amount

enter a subtotal of the two previous amounts

select between addition and deduction

:

select a reconciling item

$enter a dollar amount

select a reconciling item

enter a dollar amount

select a reconciling item

enter a dollar amount

enter a subtotal of the three previous amounts

select a closing name for section two

$enter a total amount for the second section

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Journalize the adjusting entries to be made by Shamrock, Inc. at August 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit Credit

Aug. 31

enter an account title to record interest earned on August 31

enter a debit amount

enter a credit amount

enter an account title to record interest earned on August 31

enter a debit amount

enter a credit amount

(To record Interest earned)

Aug. 31

enter an account title for the adjusting entry to correct error in recording check on August 31

enter a debit amount

enter a credit amount

enter an account title for the adjusting entry (to correct error in recording check)

august 31

enter a debit amount

enter a credit amount

(To correct error in recording check)

Aug. 31

enter an account title to record service charge and safety deposit box fee on August 31

enter a debit amount

enter a credit amount

enter an account title to record service charge and safety deposit box fee on

August 31

enter a debit amount

enter a credit amount

(To record service charge and safety deposit box fee)