structions Bank Reconciliation Bank Reconciliation Instructions Shaded cells have feedback. Score: 22760 Valentine Investigations Bank Reconciliation Schedule February 28, 20XX $12,225.00 1 Cash balance from bank statement 2 3 $12,225.00 $13,175.00 4 Adjusted cash balance 5 Cash balance from company records 6 Less: Service charge Less: Debit memo (electric bill) $50.00 7 900.00 950.00 8 Adjusted cash balance $12,225.00 Points: 4.77 / 13 Feedback Instructions Valentine Investigations has the following information for its cash account: $ 7,581 Balance, 1/31 Deposits during February Checks written during February 106,850 102,440 Valentine's bank statement for February contained the following information: Valentine Investigations Bank Reconciliation Schedule February 28, 20XX 1 Balance per bank, 1/31 $9,075.00 7 Add: 5 February deposits 104,900.00 $113,975.00 4 8 5 Less. Checks paid in February 2 Bank service charge Debit memo (electric bill) $(100,800.00) (50.00) (900.00) (101,750.00) Instructions 2 Add: 3 February deposits 104,900.00 $113,975.00 4 5 Less: 6 Checks paid in February 7 Bank service charge * Debit memo (electric bill) Balance per bank, 2/28 $(100,800,00) (50.00) (900,00) (101,750.00) $12,225.00 A comparison of company records with the bank statement provided the following data: At 1/31 At 2/28 $4,680 $2,730 Deposits in transit Outstanding checks 4,224 5,864 Required: 1. Prepare a bank reconciliation as of February 28. 2. Prepare adjusting entries for Valentine based on the information developed in the bank reconciliation 3. What is the amount of cash that should be reported on the February 28 balance sheet? Final Question Shaded cells have feedback, 3. What is the amount of cash that should be reported on the February 28 balance sheet? $12,225 x Points: 0/1 Feedback General Journal Score: 45/51 GENERAL JOURNAL BALANCES POST. RER DEBIT CREDIT ASSETS LIABILITI 1 DATE ACCOUNT TITLE Adjusting Entries Feb. 28 Miscellaneous Expense Cash 2 1 50.00 3 50.00 ! 4 Feb. 28 Utilities Expense 900.00 5 Cash 900.00 1