solve part 4 & 5

Part Four Instructions In this part of the practice set, the student will prepare a Bank Reconciliation for the month of September by using the ending cash amount in your account for your books. Be prepared to turn in the Bank Reconcillation after answering the questions in Blackboard. Requirements 1. Make sure you have corrected any errors on your journal and adjusting journal entries and have the correct balance for the cash account in your T-Account betore starting the Bank Reconclilation. Please use the correct balance in the cash account to start on the book side of the reconciliation. 2. Bank Reconciliation: Using the cash balance per books and the bank statement, prepare a bank reconciliation. A template you can use to create a Bank Reconciliation is located below. 3. Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adjusting iournal entries to your cash account by entering them in the general journal of the practice set so that the general ledger cash account agrees with the Bank Reconciliation. Once you finish the Bank Reconciliation follow the instructions below: Step 1: Enter the journal entries into the Excel Template spreadsheet and when completed print it out. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard for the corresponding week in the content folder. Step 3: Once you complete entering information into Blackboard, upload the spreadsheet into Blackboard by clicking on the navigation pane then clicking on Practice Set. Bank Reconciliation Template Part Five Instructions Before preparing the Financial Statements make sure all the assignments have been corrected in your spreadsheets. Prepare the Financial Statements listed below using Excel. a. Adjusted Trial Balance b. Income Statement c. Statement of Retained Earnings d. Balance Sheet Once you finish the Financial Statements follow the instructions below: Step 1: Enter the journal entries into the Excel Template spreadsheet and when completed print it out. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard for the corresponding week in the content folder. Step 3: Once you complete entering information into Blackboard, upload the spreadsheet into Blackboard by clicking on the navigation pane then clicking on Practice Set. Bank Statement Bella's Balloon Bouquet, Inc. 123 Main Avenue El Paso, Texas 79945 "Assume any errors are made by the bank Chart of Accounts \begin{tabular}{|c|l|} \hline Current Assets \\ \hline 10000 & Cash \\ \hline 11000 & Accounts Receivable \\ \hline 12000 & Inventory - Balloons \\ \hline 12100 & Inventory - Helium \\ \hline 13100 & Supplies \\ \hline 13200 & Shipping Supplies \\ \hline 18000 & Prepaid Rent \\ \hline 18100 & Prepaid Insurance \\ \hline 18200 & Prepaid Advertising \\ \hline \end{tabular} \begin{tabular}{|c|l|} \hline Stockholders' Equity \\ \hline 39003 & Common Stock \\ \hline 39005 & Retained Earnings \\ \hline 39007 & Dividends \\ \hline \end{tabular} \begin{tabular}{|c|l|} \hline Long-Term & Assets \\ \hline 15000 & Computer Equipment \\ \hline 17000 & \begin{tabular}{l} Accumulated Depreciation \\ -Computer Equipment \end{tabular} \\ \hline 15100 & Delivery Van \\ \hline 17100 & \begin{tabular}{l} Accumulated \\ Depreciation-Delivery Van \end{tabular} \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Revenue \\ \hline 40000 & Sales \\ \hline \end{tabular} \begin{tabular}{|c|l|} \hline \multicolumn{2}{|l|}{ Current Liabilities } \\ \hline 20000 & Accounts Payable \\ \hline 21100 & \begin{tabular}{l} Note Payable - Wells Fargo \\ Bank \end{tabular} \\ \hline 21200 & Note Payable - Office Mart \\ \hline 23100 & Wages Payable \\ \hline 23200 & Interest Payable \\ \hline 23300 & Sales Tax Payable \\ \hline 23400 & Utility Payable \\ \hline \end{tabular} \begin{tabular}{|c|l|} \hline Expenses \\ \hline 50000 & Cost of Goods Sold \\ \hline 60100 & Legal Expense \\ \hline 60150 & Supplies Expense \\ \hline 60200 & Shipping Supplies Expense \\ \hline 60300 & Insurance Expense \\ \hline 60350 & Wages Expense \\ \hline 60400 & Gasoline Expense \\ \hline 60500 & \begin{tabular}{l} Advertising and Promotion \\ Expense \end{tabular} \\ \hline 60550 & Utility Expense \\ \hline 60600 & Rent Expense \\ \hline 60650 & Depreciation Expense \\ \hline 60700 & Interest Expense \\ \hline 60750 & Bank Service Fee \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline Long-Term Liabilities \\ \hline 27000 & Mortgage Payable \\ \hline 27100 & Notes Payable \\ \hline \end{tabular} Record Adjusting Entries: Record the following month end adjusting entries for the month of September. Write the journal entries in the practice set after the original journal entries and round to the nearest cent. a. $50 of supplies remained on hand. b. $10 of shipping supplies remained on hand. c. $1,000 of wages for the part-time help from Irene's Temp Services for September should be accrued. Do not worry about payroll taxes; Temp Services Inc. will handle these. d. Make the necessary adjusting entry for one month's depreciation for the van using Straight Line Depreciation. e. Make the necessary adjusting entry for the computer equipment using Straight Line Depreciation. f. One month of the prepaid insurance has expired. g. One month of the prepaid rent has expired. h. $300 of prepaid advertising remains on hand i. Record the interest on the loan from Wells Fargo. Transactions \begin{tabular}{|c|c|c|c|} \hline & & & \\ \hline 18. & 9/20/23 & Ck #1007 & \begin{tabular}{l} Received and paid the $300 invoice for supplies, string, ribbons is bm \\ purchased on 9/18/23. \end{tabular} \\ \hline 19. & 9/22/23 & Ck #1008 & Paid the invoice from Hector's Helium from 9/08/23. \\ \hline 20. & 9/22/23 & & Ordered $700 of helium on account. \\ \hline 21. & 9/23/23 & & \begin{tabular}{l} Ms. Boone donated a balloon bouquet to the Humane Society fund \\ raiser. She felt that this was a good way to advertise her new \\ business. Her business was listed as a sponsor and a large ad was \\ put in the fund raiser program. Cost of the balloons were $600 and \\ the helium was $100. Ms. Boone considers this an advertising \\ expense. \end{tabular} \\ \hline 22. & 9/23/23 & Deposit \#4 & \begin{tabular}{l} Received payment in full from UTEP. The payment was deposited in \\ the bank. \end{tabular} \\ \hline 23. & 9/23/23 & Ck #1009 & \begin{tabular}{l} Ms. Boone paid her credit card bill for the month. The bill was $300 \\ which was for gas for the delivery van and $50 was for decorative \\ ribbons used for the Humane Society balloon arrangement. \end{tabular} \\ \hline 24. & 9/23/23 & Ck #1010 & Purchased and paid for $50 of shipping supplies. \\ \hline 25. & 9/23/23 & Deposit \#5 & \begin{tabular}{l} Internet and retail sales totaled $7,000 and sales taxes of $560 was \\ collected. The cost of the merchandise sold was $4,500 (Balloons \\ $4,000; Helium $500 ). The money was deposited in the bank. \end{tabular} \\ \hline 26. & 9/23/23 & Ck #1011 & \begin{tabular}{l} Paid the balance due to Balloon Blast. There are two invoices; one \\ on 9/8/23 and the other on 9/18/23. \end{tabular} \\ \hline 27. & 9/25/23 & Deposit #6 & \begin{tabular}{l} Collected and deposited $2,300 of payments. Sales tax totaled \\ $189.75. The cost of the merchandise sold was $1,050. (Balloons \\ $1,000; Helium $50 ). \end{tabular} \\ \hline 28. & 9/28/23 & & Received but did not pay the utility bill for the month, $120. \\ \hline 29. & 9/30/23 & Ck #1012 & \begin{tabular}{l} Paid the first monthly installment on the computer equipment. The \\ payment amount is $636. Of this amount, $36 is for interest and \\ $600 is for principal. Make the check payable to Office Mart. \end{tabular} \\ \hline 30. & 9/30/23 & Deposit \#7 & \begin{tabular}{l} Recorded internet sales for the last week of the month. Sales of \\ $3,400 were deposited. The cost of the merchandise sold was \\ $1,250 (Balloons $1,200; Helium $50 ). Sales tax collected is $280.50. \end{tabular} \\ \hline 31. & 9/30/23 & Ck \#1013 & \begin{tabular}{l} Paid all sales tax owed for September to the Comptroller of Public \\ Accounts. \end{tabular} \\ \hline 32. & 9/30/23 & Ck #1014 & \begin{tabular}{l} Accounts. \\ Declared and paid a cash dividend of $100 to Bella Boone. \end{tabular} \\ \hline \end{tabular}