The following information pertains to Pharoah Company.

1.		Cash balance per bank, July 31, $7,588.
2.		July bank service charge not recorded by the depositor $45.
3.		Cash balance per books, July 31, $7,624.
4.		Deposits in transit, July 31, $2,960.
5.		$2,276 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company.
6.		Outstanding checks, July 31, $693.

(a)

• Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)

PHAROAH COMPANY Bank Reconciliation choose the accounting period July 31, 2022For the Month Ended July 31, 2022For the Year Ended July 31, 2022
select an opening name for section one Outstanding checksCash balance per bank statementAdjusted cash balance per bankElectronic funds transfer receivedDeposits in transitBank service charge		$enter a dollar amount
select between addition and deduction AddLess: select a reconciling item Adjusted cash balance per bankElectronic funds transfer receivedOutstanding checksCash balance per bank statementBank service chargeDeposits in transit		enter a dollar amount
		enter a subtotal of the two previous amounts
select between addition and deduction LessAdd: select a reconciling item Deposits in transitBank service chargeCash balance per bank statementElectronic funds transfer receivedAdjusted cash balance per bankOutstanding checks		enter a dollar amount
select a closing name for section one Electronic funds transfer receivedBank service chargeCash balance per bank statementOutstanding checksAdjusted cash balance per bankDeposits in transit		$enter a total amount for section one
select an opening name for section two Bank service chargeDeposits in transitElectronic funds transfer receivedOutstanding checksCash balance per booksAdjusted cash balance per books		$enter a dollar amount
select between addition and deduction AddLess: select a reconciling item Electronic funds transfer receivedAdjusted cash balance per booksBank service chargeOutstanding checksCash balance per booksDeposits in transit		enter a dollar amount
		enter a subtotal of the two previous amounts
select between addition and deduction LessAdd: select a reconciling item Adjusted cash balance per booksOutstanding checksElectronic funds transfer receivedDeposits in transitCash balance per booksBank service charge		enter a dollar amount
select a closing name for section two Deposits in transitAdjusted cash balance per booksElectronic funds transfer receivedOutstanding checksCash balance per booksBank service charge		$enter a total amount for section two

(b)

Prepare a tabular analysis for the adjustments at July 31 on the books of Pharoah Company. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets			=	Liabilities	+	Stockholders Equity
		Cash		Accts. Rec.
			+		=		+	Rev.	-	Exp.
July 31		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an option Miscellaneous expense cash over and shortSales revenueBank charges an expense
31		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an option Cash over and shortSales revenueMiscellaneous expense bank charges an expense