Student Name Comprehensive Problem Part 2: Bank Reconciliation and Petty Cash Instructions Bank Reconciliation and Petty Cash TUsing the information provided below Prepare a bank reconciliation for Happy Company as of April 30, 2007. 2007 to bring the company's book balance of cash into confomity with reconciled cash balance as e April 3 Frepare e jouma s Journ Establish a petty cash fund of S100. Replenish the petty cash fund. The cash remaining in the box is $10, Petty cash receints in the box include S60 a supplics d S35 for withdrawals. Part la. Prepare bank reconciliation. (Data is a right.) HAPPY COMPANY on April 30, 2007 Information Needed f Bank Reconciliation Cash balance in general ledger on company's books Bank statement balance 22,000 Add: Bank stateme 27,840 and No. 8 8.000 Error on Check No. 2 for ren Deduct: mount entered in books as debit to Prepaid Insurance 24,000 Error on Check No. 4 for salaries: Amount entered by bank Actual amount 100 1.00 Adjusted bank balance eivable for Happy Ba d be bark Book balance 2.000 Collection fee charged by bank Add: NSF check from client 1,00 by bank Bank service charge Deposit not vet credited by bank (April 20) Deduct: 5.000 Note: Three blanks are given for cach section of the bank Adjusted book balance or some of the sections, you may only have one or twn entries Part Ib: Prepare adiusting entries for the bank reconciliation. YOU'VE DONE IT! General Journal Date Debit Credi a Adjusting entry for collection by bank Cash in Bank Correct Use the following account titles or the bank se Miscea ble Comect sting entries Corect Accounts Receivable Adjusting entry for error. Cash in Bank Cash in Bank Miscellancous Expense Prepaid Rent Corect Prepaid Rent Corect c. Adjusting entry for NSF check Accounts Receivable Corect Cash in Bank Corect d Adjusting entry for bank charge(s). Miscellancous Expense Commet Cash in Bank Corect Part 2: Prepare journal entries for establishment and replenishment of petty cash. YOU'VE DONE IT General Journal Date Debit Credit Established a petty cash fund of $100. a Petty Cash Corect Use the following account titles for the petty Cash in Bank Cormect ntries Replenished petty cash. Cash remaining in the box is $3. Petty cash receipts in the box include $60 for sunplies and $35 for withdrawals. b. Cash Short and Over Happy, Withdrawals Petty Cash Supplies Expense Supplies Expense Corect als Cash Short and Over Cash in Bank