Sunshine Interiors Bank Reconciliation July 31, 20Y5

Cash balance according to bank statement $fill in the blank a4e8dcf8f007fd0_1 Add deposit of July 31, not recorded by bankAdd error in recording check No. 627Add error in recording July 23 depositAdd principal of note collectedAdd interest on note collected - Select - Deduct deposit of July 31, not recorded by bankDeduct error in recording July 23 depositDeduct check returned because of insufficient fundsDeduct check no. 613Deduct interest on note collected $- Select - Deduct deposit of July 31, not recorded by bankDeduct error in recording July 23 depositDeduct check returned because of insufficient fundsDeduct check no. 628Deduct bank service charges - Select - Deduct error in July 23 depositDeduct error in recording check No. 627Deduct check returned because of insufficient fundsDeduct check no. 633Deduct bank service charges - Select - - Select - Adjusted balance $fill in the blank a4e8dcf8f007fd0_11 Cash balance according to company's records $fill in the blank a4e8dcf8f007fd0_12 Add check returned because of insufficient fundsAdd check no. 628Add check no. 633Add bank service chargesAdd note and interest collected by bank $- Select - Add deposit of July 31, not recorded by bankAdd error in recording July 23 depositAdd check returned because of insufficient fundsAdd check no. 613Add check no. 633 - Select - Add deposit of July 31, not recorded by bankAdd error in recording check No. 627Add check no. 613Add check no. 633Add bank service charges - Select - - Select - Deduct deposit of July 31, not recorded by bankDeduct error in recording check No. 627Deduct error in recording July 23 depositDeduct check returned because of insufficient fundsDeduct interest on note collected $- Select - Deduct deposit of July 31, not recorded by bankDeduct error in recording check No. 627Deduct error in recording July 23 depositDeduct interest on note collectedDeduct bank service charges - Select - - Select - Adjusted balance $fill in the blank a4e8dcf8f007fd0_25

2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank.

a. 20Y5 July 31	Accounts ReceivableCashInterest RevenueNotes ReceivableSales	- Select -	- Select -
	Accounts ReceivableCashInterest PayablePetty CashNotes Receivable	- Select -	- Select -
	Accounts ReceivableCashInterest ExpenseInterest RevenueUnearned Interest	- Select -	- Select -
	Accounts ReceivableCashInterest PayableInterest ReceivableSales	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashInterest ExpenseCash Short and Over	- Select -	- Select -
b. July 31	Accounts PayableAccounts ReceivableCash Short or OverPetty CashInterest Receivable	- Select -	- Select -
	Accounts PayableCash Over and ShortMiscellaneous ExpenseMiscellaneous Administrative RevenuePetty Cash	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashMiscellaneous RevenueCash Short and Over	- Select -	- Select -

3. What is the amount of Cash that should appear on the balance sheet as of July 31? $fill in the blank e3a79ffc9031fe1_1

4. Assume that a canceled check for $180 has been incorrectly recorded by the bank as $1,800. Select how the error would be included in a bank reconciliation and how it should be corrected.

Treatment	Not included in a bank reconciliationAddition to cash per depositor's recordsDeduction from cash per bank statementDeduction from cash per depositor's recordsAddition to cash per bank statement
To correct	Journalize a correcting entry adding $1,800 to cashJournalize an entry deducting $1,620 from cashRequest that the bank correct the errorJournalize an entry adding $1,620 to cashJournalize an entry deducting $1,800 from cash

Chapter 8 Assignment (Graded) ) cBook 1. PR.08.02.BLANKSHEET.AL Bank Reconciliation and Entries 2. PR.08.05B Sunshine Interiors deposits all cash receipts each Wednesday and Friday in a night depository after banking hours. The data required to reconcile the bank statement as of July 31 have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account. BANK RECONCILIATION FOR PRECEDING MONTH (DATED JUNE 30): Cash balence according to benk statement Add deposit of June 30, not recorded by bank Deduct outstanding checks No. 580 $9,122.80 780.BO $310.10 No. 602 85.50 No. 612 92.50 137.50 No. 613 (625.60) Adjusted balance $9,575.00 Cash balance according to company's records $9,605.70 Deduct bank service charges (27.70) Adjusted balance $9,578.00 $ 9,578.00 CASH ACCOUNT: Balance as of July 1 1 CASH RECEIPTS FOR MONTH OF JULY DUPLICATE DEPOSIT TICKETS: 6,465.42 Date and amount of cach deposit in July: Dale Arrount Date Amount Dale Amourit July 2 $569.50 July 12 $580.70 July 23 $ 713.45 5 701.BO 16 600.10 26 601.50 Check My Work Previous Progress: 2/2 items : Assignment Score: 50% All work saved. Email Instructor Save and Exit Submit Assignment for Grading Chapter 8 Assignment (Graded) ) cBook 1. PR.08.02.BLANKSHEET.AL Amount Date Amount 2. PR.08.05B Date and amount of each deposit in July: Date Amount Date July 2 $569.50 July 12 5 701.BO 16 9 819.24 19 $580.70 July 23 $ 713.45 601.50 600.10 26 701.26 31 1.177,87 CHICCKS WRITTEN: Number and amount of each check issued in July: Check No. Amount Check No. Amount Check No Amount 614 $243.50 621 $309.50 629 $837.70 615 350.10 622 Void 629 329.90 882.80 616 279.90 623 Void 630 617 395.50 624 707.01 631 1,081,56 618 625 158.63 632 325.10 435.10 320,10 619 626 550.03 633 310.0B 620 238.87 627 381.73 634 241.71 Total amount of checks issued in July $6,379.42 Click here to see JULY BANK STATEMENT Required: 1. Prepare a bank reconciliation as of July 31. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. When required, enter amounts in dollars and cents. Sunshine Interiors Bank Reconciliation July 31, 2015 Cash balance according to bank statement Check My Work Previous Progress: 2/2 items : Assignment Score: 50% All work saved. Email Instructor Save and Exit Submit Assignment for Grading To exit full screen, move mouse to top of screen or press F11 JULY BANK STATEMENT: PAGE 1 1 ACCOUNT NUMBER Ali MEMBER FOIC AMERICAN NATIONAL BANK OF DETROIT DETROIT, MI 48201-2500 (313) 933-8547 , FROM 7/01/2015 TO 7/51/2015 BALANCE 9,482.80 8.088 9 DEPOSITS 20 WITHDRAWALS 7.888.74 SUNSHINE INTERIORS 4 OTHER DEBITS AND CREDITS NEW BALANCE 3,749.0OCR 11,801.41 09/17 -----CHECKS AND OTHER DEBITS DEPOSITS -.-DATE-.- BALANCE. NO 310.10 No.012 02.10 780.80 OV/01 0,801.00 No.00 08.30 No.614 248.80 5600 OYO 10,041.30 N0.015 380.10 N0.010 BYO 00 201.80 OV/00 10,113.30 No.017 308.80 No.610 488.40 819.24 09/11 10,101.64 No.619 SRO 10 No. 288.07 SOTO OV/13 10,1 No.021 300 30 No.684 YO7.01 MS 4,000.00 09/14 13,100.00 NGRS 188.68 No.68 550.00 M 160.00 09/14 12,850.00 10.097 318.78 NO.60 320.00 600.10 18,000.07 No.680 882.80 No.681 1.081.86 NEW 878.00 OP/RO 10,170.81 No.689 195.40 No.654 341.71 701.26 OV/81 O/ 10,804.48 731.43 09/24 11.05.01 601.10 09/28 O 11.6.41 BC 30.00 07/31 11,001.41 BC - ERROR CORRECTION OD - OVERDRAFT MS - MISCELLANEOUS PS-PAYMENT STOPPRID WSP-NOT SUPYICISIT YUNDE SC - SERVICE CHARGE ... ... THE RECONCILEMRIT OF THIS STATEMENT WITH YOUR RECORDE IS RARITIAL ANY ERROR OR EXCEPTION SHOULD BE REPORTED IMEDIATELY Chapter 8 Assignment (Graded) cBook 1. PR.08.02.BLANKSHEET.AL Sunshine Interiors Rank Reconciliation July 31, 2015 Cash balance according to bank statement 2. PR.08.05B Adjusted balance Cash balance according to company's records uimin Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. a. 2045 July 31 b. July 31 Check My Work Previous Progress: 2/2 items Assignment Score: 50% All work saved Email Instructor Save and Exit Submit Assignment for Grading Chapter 8 Assignment (Graded) cBook 1. PR.08.02.BLANKSHEET.AL 2. PR.08.05B 0 00 Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. When required, enter amounts in dollars and cents. If an amount box does not require an entry, leave it blank. d. 20Y5 July 31 b. July 31 3. What is the amount of Cash that should appear on the balance sheet as of July 317 sl 4. Assume that a canceled check for $180 has been incorrectly recorded hy the bank as $1,800. Select how the error would he included in a bank reconciliation and how it should he corrected Treatment To correct Previous Progress: 2/2 items Check My Work Assignment Score: 50% All work saved. Email Instructor Save and Exit Submit Assignment for Grading