Super Whale Co. Statement of Cash Flows For the year ended December 31, 2020 Unit: Dollar (1) 12,000 Cash flows from operating activities Net income Adjusted: (2) Gain from equipment sold Decreased in Account receivable Increased in supplies (5)........... Increased in utility payable (3) 7,700 (4) (2,500) 5.000 Net cash flows from operating activities 26,970 Cash flows from investing activities Cash received from land sold Cash received from equipment sold (7) 8.200 (6) (11.250) Net cash flows from investing activities 17,700 Cash flows from financing activities Cash payment to redeemed bond payable Cash received from stock issued (8) (9) (10) (16.820) Net cash flows from financing activities (13.920) Net cash flows increased (decreased) Cash at the beginning period Cash at the ending period 30.750 20,000 50.750 Q3 (5 points) Prepare the Bank reconciliation at 30 November 2020. On 30 November 2020, Panda Jewelry's cash ledger showed a balance of $2,500. The bank statement from Best Bank on that date showed a balance of $4,000. A comparison of the details on the bank statement with the details in the cash account revealed the following facts. 1. The statement included a debit memo of $50 for the printing of additional checks. 2. The statement included a credit memo of $1,000 for the collection of note receivable and $50 interest. The bank also charged $20 as a collection fee. 3. Cash sales of S830 on 15 November were deposited in the bank. The cash journal entry was incorrectly made for $380. The bank credited for the correct amount. 4. Outstanding checks at 30 November totaled S1,200, deposit in transit were $580. 5. The statement showed a NSF charge of $230 for a check issued by Monkey Milk, a customer on account. to Panda Jewelry 6. Included with the canceled checks was a check issued by Orca Co. for $50 that was incorrectly charged to Panda Jewelry by the bank 7. On 25 November, Panda Jewelry issued check no. 412 for $1,520 to Dolphin Co. The check, which cleared with the bank in November, was incorrectly recorded and posted by Panda Jewelry for $1,250. a Panda Jewelry Co. The Bank Reconciliation 30 November 2020 Balance per bank statement 3,430 Corrected cash balance Balance per book Super Whale Co. Statement of Cash Flows For the year ended December 31, 2020 Unit: Dollar (1) 12,000 Cash flows from operating activities Net income Adjusted: (2) Gain from equipment sold Decreased in Account receivable Increased in supplies (5)........... Increased in utility payable (3) 7,700 (4) (2,500) 5.000 Net cash flows from operating activities 26,970 Cash flows from investing activities Cash received from land sold Cash received from equipment sold (7) 8.200 (6) (11.250) Net cash flows from investing activities 17,700 Cash flows from financing activities Cash payment to redeemed bond payable Cash received from stock issued (8) (9) (10) (16.820) Net cash flows from financing activities (13.920) Net cash flows increased (decreased) Cash at the beginning period Cash at the ending period 30.750 20,000 50.750 Q3 (5 points) Prepare the Bank reconciliation at 30 November 2020. On 30 November 2020, Panda Jewelry's cash ledger showed a balance of $2,500. The bank statement from Best Bank on that date showed a balance of $4,000. A comparison of the details on the bank statement with the details in the cash account revealed the following facts. 1. The statement included a debit memo of $50 for the printing of additional checks. 2. The statement included a credit memo of $1,000 for the collection of note receivable and $50 interest. The bank also charged $20 as a collection fee. 3. Cash sales of S830 on 15 November were deposited in the bank. The cash journal entry was incorrectly made for $380. The bank credited for the correct amount. 4. Outstanding checks at 30 November totaled S1,200, deposit in transit were $580. 5. The statement showed a NSF charge of $230 for a check issued by Monkey Milk, a customer on account. to Panda Jewelry 6. Included with the canceled checks was a check issued by Orca Co. for $50 that was incorrectly charged to Panda Jewelry by the bank 7. On 25 November, Panda Jewelry issued check no. 412 for $1,520 to Dolphin Co. The check, which cleared with the bank in November, was incorrectly recorded and posted by Panda Jewelry for $1,250. a Panda Jewelry Co. The Bank Reconciliation 30 November 2020 Balance per bank statement 3,430 Corrected cash balance Balance per book