The cash account for ASA industry showed a balance of R$22000$ on December $31,2021.$ The bank statement as of the same date showed a balance of R$25000.$ After comparing the bank statement with the cash records, the following information was determined:

$1.$ The bank issued a credit memorandum for R$24$ interest earned on ASA$$s account.

$2.$ Deposits in transit as at December $31,2021$ were R$4200.$

$3.$ Outstanding cheques from December were R$2349.$ Cheques still outstanding from November were R$475.$

$4.$ Electronic payments received from customers on the December $31,2021$ totalling R$4798$ have not yet been recorded by the company.

$5.$ The bank returned a NSF cheque in the amount of R$444.$ The cheque was a payment on a customer$$s account recorded on December $23,2021.$

$6.$ The bank issued a debit memo for bank service charges of R$155.$ This amount included a R$22$ charge for processing the NSF cheque.

$7.$ The company made an error in recording one of their receipts on account from a customer. They recorded the payment on account as R$507$ cash when it should have been R$750.$ The bank correctly recorded the deposit as R$750$

$8.$ There was a bank error on one of the deposits made. The bank credited the company$$s account for R$450$ whereas it should have been credited for R$540.$ The entry was properly recorded in the company$$s books.

Required:

$1.$ Prepare the Bank reconciliation at December $31,2021$

$2.$ Prepare the necessary adjusting entries at December $31,2021$

Question $2(40$marks$)$

Company ABC has March $31$st year end. ABC records adjusting entries on an annual basis.

Based on the following information provided below,

a$)$ Indicate what type of adjustment it is$,$ the account name and if it a debit or credit.

b$)$ Journalize the adjusting entry on March $31,2017.$

$1.$ At the end of the year, the unadjusted balance in the Prepaid Insurance account was R$1500.$ Based on the analysis of the insurance policies, R$1315$ had expired by the year end.

$2.$ At the end of the year, the unadjusted balance in the Unearned Revenue account was R$2800.$ During the last week of March, R$750$ of this amount has been earned.

$3.$ On December $31,2016,$ ABC signed a note payable for R$15000.$ The loan the agreement stated that the interest was $5\%.$

$4.$ Depreciation for building was R$13500$ for the year.

$5.$ At the beginning of the year, ABC had R$600$ of supplies on hand. During the year, R$2340$ of supplies were purchased. A count at the end of the year indicates that R$235$ of supplies was left on March $31.$

$6.$ Between March $29$th and March $31$st inclusive, four employees worked $7$ hour shifts at R$14\mathrm{.}00$ per hour.

$7.$ On March $31,$ it was determined that R$7000$ of service revenue had been earned, but the bookkeeper did not record it$.$

$8.$ ABC performed services for clients totalling R$4300.$ These services have not yet been recorded.

$9.$ Purchased computer equipment on January $1,2017$ for R$20000,$ paying R$5000$ in cash and signing a R$15000,$ two$-$year note payable. The equipment depreciates R$300$ per month and the interest is R$400$ per month.

$10.$ On March $15,2017,$ sold R$535$ of gift certificate to a local sports club. On March $31,2017,$ determined that R$240$ of these gift certificates had not been redeemed.