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Chec Refer to the information given below: a. The August 31 balance shown on the bank statement is $9.050. b. There is a deposit in
Chec Refer to the information given below: a. The August 31 balance shown on the bank statement is $9.050. b. There is a deposit in transit of $1,300 at August 31. c. Outstanding checks at August 31 totaled $1,620. d. Interest credited to the account during August but not recorded on the company's books amounted to $68. e. A bank charge of $44 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $142 had been recorded as a disbursement of $412. g. The August 31 balance in the general ledger Cash account, before reconciliation, is $8,436. Required: a-1. Show the reconciling items in a horizontal model that should be prepared to reflect the reconciling items as on August 31. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Assets Liabilities Stockholders' Equity Income Statement Revenues Net income Expenses Cash 10,350 a-2. Prepare the adjusting journal entry that should be prepared to reflect the reconciling items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjusting entry to reflect the reconciling items. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal b. What is the amount of cash to be included in the August 31 balance sheet for the bank account reconcilede Amount of cash Help Refer to the information given below a. The August 31 balance shown on the bank statement is $9,050 b. There is a deposit in transit of $1.300 at August 31. c. Outstanding checks at August 31 totaled $1.620. d. Interest credited to the account during August but not recorded on the company's books amounted to $68. e. A bank charge of $44 for checks was made to the account during August Although the company was expecting a charge, the amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $142 had been recorded as a disbursement of $412 g. The August 31 balance in the general ledger Cash account, before reconciliation is $8.436 Required: a-1. Show the reconciling items in a horizontal model that should be prepared to reflect the reconciling items as on August 31 (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Assets Income Statement Liabilities Stockholders' Equity Net income Cash Revenues 10,350 Expenses Journal entry worksheet
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