The following information is available for Pyle Garage for March, Year 2: BANK STATEMENT HAZARD STATE BANK 215 MAIN STREET HAZARD, GA 30321 Pyle Garage Account number 629 Main Street 62-00062 HAZARD, GA 30321 March 31, Year 2 Beginning balance 3/1/Year 2 $9,085 Total deposits and other credits 30, 174 Total checks and other debits 25, 144 Ending balance 3/31/Year 2 14, 115 Checks and Debits Deposits and Credits Check No. Amount Date Amount 1462 $3,810 March 1 $1,154 1463 1,695 March 2 6,556 1464 8,052 March 6 4,991 1465 2,953 March 12 6,220 1466 1,460 March 17 6,016 1467 6,234 March 22 2,136 DM 70 CM 3, 101 1468 870 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year 2: Date March March Amount of Deposit $6,556 4,991 1 5 Date March 1 March 5 March 6 March 9 March 10 March 14 March 19 March 28 Check No. 1463 1464 1465 1466 1467 1468 1469 1470 Amount of Check $1,695 8,052 2,953 1,460 6,234 155 1,548 797 March 10 6,220 March 16 March 19 March 29 6,016 2,136 3,595 The following is a list of checks and deposits recorded on the books of Pyle Garage for March, Year 2: Date March March Amount of Deposit $6,556 4,991 1 5 March Date March 1 5 March 6 March 9 March 10 March 14 March 19 March 28 Check No. 1463 1464 1465 1466 1467 1468 1469 1470 Amount of Check $1,695 8,052 2,953 1,460 6,234 155 1,548 797 March 10 6,220 March 16 March 19 March 29 6,016 2,136 3,595 Other Information 1. Check no. 1462 was outstanding from February. 2. A credit memo for collection of accounts receivable was included in the bank statement. 3. All checks were paid at the correct amount. 4. The bank statement included a debit memo for service charges. 5. The February 28 bank reconciliation showed a deposit in transit of $1,154. 6. Check no. 1468 was for the purchase of equipment. 7. The unadjusted Cash account balance at March 31 was $13,049. Required: a. Prepare the bank reconciliation for Pyle Garage at the end of March. b. Explain how the adjustments described above affect the cash account. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the bank reconciliation for Pyle Garage at the end of March. (Negative amounts should be indicated with minus sign.) PYLE GARAGE Bank Reconciliation March 31, Year 2 Unadjusted Bank Balance, March 31, Year 2 Add: Deposit in transit Less: Outstanding checks Oo $ True Cash Balance, March 31, Year 2 Unadjusted Book Balance, March 31, Year 2 0 True Cash Balance, March 31, Year 2 $ 0 Required A Required B Explain how the adjustments described above affect the cash account. (Select "Not affected" if there is no affect on the "Cash account".) Item No. Affect on the Cash Account 1. 2. 3. 4. 5. 6.
