UDC X Dividend Investment Plan Onlinex Jum/takeAssignment/takeAssignmentMain doinvokerStake AssignmentSession Locatorinprogress-false S T Shirts & Tees Women's Foos X + eBook Show Me How Calculator Printem Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 2011, indicated a balance of $11,500. The bank statement indicated a balance of $13,440 on June 30, 2011. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling tems: a. Checks outstanding totaled $4,840 b. A deposit of $5,040, representing receipts of June 30, had been made too late to appear on the bank statement c. The bank collected $2,620 on a $2,490 note, including interest of $130. d. A check for $880 returned with the statement had been incorrectly recorded by Pala Medical Co. as $800. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $40 had been erroneously charged by the bank as $400. F. Bank service charges for June amounted to $40. Required: 1. Prepare a bank reconciliation Pala Medical Co Bank Reconciliation June 30, 2011 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance IND Cash balance according to company's records Check My Work 4 more Check My Work uses remaining Previous Next Save and Submit Assignment for Grade . US 251 eBook Show Me How Calculator Printem Adjusted balance Cash balance according to company's records Adjustments: 8 Total adjustments Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. 2011 June 30 b. June 30 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2011, what amount should be reported as cash? Previous Next Check My Work 4 more Check My Work uses remaining. Save and Submit Assignment for Grad US UDC X Dividend Investment Plan Onlinex Jum/takeAssignment/takeAssignmentMain doinvokerStake AssignmentSession Locatorinprogress-false S T Shirts & Tees Women's Foos X + eBook Show Me How Calculator Printem Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 2011, indicated a balance of $11,500. The bank statement indicated a balance of $13,440 on June 30, 2011. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling tems: a. Checks outstanding totaled $4,840 b. A deposit of $5,040, representing receipts of June 30, had been made too late to appear on the bank statement c. The bank collected $2,620 on a $2,490 note, including interest of $130. d. A check for $880 returned with the statement had been incorrectly recorded by Pala Medical Co. as $800. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $40 had been erroneously charged by the bank as $400. F. Bank service charges for June amounted to $40. Required: 1. Prepare a bank reconciliation Pala Medical Co Bank Reconciliation June 30, 2011 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance IND Cash balance according to company's records Check My Work 4 more Check My Work uses remaining Previous Next Save and Submit Assignment for Grade . US 251 eBook Show Me How Calculator Printem Adjusted balance Cash balance according to company's records Adjustments: 8 Total adjustments Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. 2011 June 30 b. June 30 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2011, what amount should be reported as cash? Previous Next Check My Work 4 more Check My Work uses remaining. Save and Submit Assignment for Grad US