The following information is for Kevin's Logistics Company: 1. Cash balance per bank, July 31, $7,130. 2. July bank service charge not recorded by the depositor, $38. 3. Cash balance per books, July 31, $7,150. 4. Deposits in transit, July 31, $1,130. 5. 6. Bank collected $610 note for Kevin's in July, plus interest $40, less fee $32. The collection has not been recorded by Kevin's, and no interest has been accrued. Outstanding cheques, July 31, $530. Your answer is partially correct. Prepare a bank reconciliation at July 31. (List items that increase balance as per bank & books first.) Cash balance per bank statement Add: Deposits in transit Less Outstanding cheques Adjusted cash balance per bank Cash balance per books Add Collection of note receivable KEVIN'S LOGISTICS COMPANY Bank Reconciliation July 31 610 Collection of interest revenue 40 Less Bank service charges Adjusted cash balance per books eTextbook and Media List of Accounts Your answer is partially correct. $ 7130 $ 1130 8260 530 i 7730 $ 7150 650 7800 38 7762 Journalize the entries required by the reconciliation at July 31 on the books of Kevin's Logistics Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation July 31 Bank Charges Expense Cash (To record bank service charge expense.) July 31 Cash Notes Receivable Interest Revenue (To record collection of note receivable.) Debit 38 650 Credit 38 610 40 A first-year co-op student is trying to determine the amount of cash and cash equivalents that should be reported on a company's balance sheet. The following information was given to the student at year end. 1. The cash float for the cash registers totals $1,060. 2. The balance in the Petty Cash account is $380. At year end, the fund had $39 cash and receipts totalling $341. 3. The balance in the company's chequing account is $9,800. The company also has a U.S. bank account, which contained the equivalent of $16,100 Canadian at year end. 4. The company has overdraft protection of $12,300 on its chequing account. 5. The company has a separate bank account with a balance of $9,800. This consists of cash deposits paid by tenants who lease office space from the company. The deposits will be refunded to the tenants at the end of their leases. The company has $16,300 of postdated cheques from customers for payment of accounts receivable. 6. 7. The company has the following short-term investments: $45,400 in treasury bills with a maturity date of less than 90 days. $13,400 in a guaranteed investment certificate that matures in six months. 8. The balance in the company owner's personal bank account is $2,470. 9. The company has NSF cheques from customers totalling $800 that were returned by the bank. (a) Calculate the amount of cash and cash equivalents that should be reported on the year-end balance sheet as a current asset. Cash and cash equivalents $