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use the January 31 balance in cash from general ledger tab in the information j-n to prepare a bank reconciliation. PRSs bank reported a January
use the January 31 balance in cash from general ledger tab in the information j-n to prepare a bank reconciliation. PRSs bank reported a January 31 balance of $6030.
-im having trouble with reconciliation table.
i just noticed that I've put my deduction for NSF check in the wrong box so I fix that I am only struggling with the deduction on my outstanding checks for my bank statement. . May I please get help in understanding which value is supposed to go there and why
On January 1, Pulse Recording Studio (PRS) had the following account balances. The following transactions occurred during January. The following transactions occurred during January. a. Recelved $2,480 cash on 1/1 from customers on account for recording services completed in December b. Wrote checks on 1/2 totaling $4,080 for amounts owed on account at the end of December. c. Purchased and received supplies on account on 1/3, at a total cost of $200. d Completed $4,000 of recording sessions on 1/4 that customers had paid for in advance in December. e. Received $4,900 cash on 1/5 from customers for recording sessions started and completed in Januan f Wrote a check on 1/6 for $4,000 for an amount owed on ac unt. 9. Converted $1,030 of cash equivalents into cash on 1/7. 2. On 1/15, completed EFTs for $1,470 for employees' salaries and wages for the first half of January. Received $2,910 cash on 1/31 from customers for recording sessions to start in February. effect of the transactions on the accoumt batances. 2. Prepare journal entries for items (0 - (n) from the bank reconcillation. 1. The bank deducted $510 for an NSF check from a customer deponited on January 5 . k. The check written January 6 has not cleared the bank, but the January 2 payment has deared. 1. The cash received and deposited on January 31 was not processed by the bank unth February 1 m. The bank added $4 cash to the account for interest earned in January. n. The bank deducted $4 for service charges: 3. Prepare adjusting journal entries on 1/31 in "General Journal' Tab. (these are shown as thems 15 to 21) o. Depreciation for the month is $180. p. Salaries and wages totaling $1,700 have not yet been recorded for 1 nuary 16 to 31 . q. Prepaid Rent will be fully used up by March 31. r. Supplies on hand at January 31 were $500. s. Received $500 invoice for January electricity charged on account to be paid in February but is not yet recorded. t. Interest on the promissory note of $57 for January has not yet been recorded or paid. u. Income tax of $900 on January income has not yet been recorded or paid. 4. Review the adjusted 'Trial Balance' as of January 31 . 5. Prepare an income statement for the period ended January 31 in the 'Income Statement' Tab. 6. Prepare a bank reconciliation in the 'Bank Reconciliation' Tab. 7. Prepare a classified balance sheet as of January 31 in the 'Balance Sheet' Tab. General Lodgurafomil \begin{tabular}{|r|c|c|r|r|} \hline No. & Date & \multicolumn{1}{c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline & January 01 & & & 7,100 \\ \hline 1 & January 01 & & 2,480 & 4,620 \\ \hline 10 & January 31 & 510 & & 5,130 \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|r|} \hline No. & \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{|c|}{ Credit } & Balance \\ \hline & January 01 & & & 510 \\ \hline E 3 & January 03 & 200 & & 710 \\ \hline 18 & January 31 & & 210 & 500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Prepmid kent } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 2,880 \\ \hline 17 & January 31 & & 960 & 1,920 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{3}{|c|}{ Nq. } & \multicolumn{3}{|c|}{ Equpromt } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 30.600 \\ \hline \end{tabular} Interest Pavable Salaries and Waces Pavable \begin{tabular}{|r|c|c|r|r|} \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 20 & January 31 & & 57 & 57 \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|r|} \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 16 & Ary 31 & & 1,700 & 1,700 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 10,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 5,670 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & \multicolumn{1}{|c|}{ Debit } & Credit & Balance \\ \hline & January 01 & & & 0 \\ \hline 15 & January 31 & 180 & & 180 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Interest Expense } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 20 & January 31 & 57 & & 57 \\ \hline \end{tabular} \begin{tabular}{|r|c|r|r|r|} \hline \multicolumn{5}{|c|}{ Rent Exponse } \\ \hline No. & Date & \multicolumn{1}{|c|}{ Debit } & Credit & Balance \\ \hline & January 01 & & & 0 \\ \hline 17 & January 31 & 960 & & 960 \\ \hline \end{tabular} \begin{tabular}{|r|c|r|r|r|} \hline \multicolumn{1}{|c|}{ No. } & \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{c|}{ Debit } & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 8 & January 15 & 1.470 & & 1,470 \\ \hline 16 & January 31 & 1,700 & & 3,170 \\ \hline \end{tabular} \begin{tabular}{|r|c|r|r|r|} \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 0 \\ \hline 18 & Junuary 31 & 210 & & 210 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Utilitins Expense } \\ \hline No. & Date & \multicolumn{1}{|c|}{ Debit } & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & & & & 0 \\ \hline 19 & January 31 & 500 & & 500 \\ \hline \end{tabular} Bank Charges Expense \begin{tabular}{|l|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 0 \\ \hline 14 & January 31 & 4 & 4 \\ \hline \end{tabular} Use the lanuary 31 balance in Cash from General Ledger tab and the informution (j) - (n) to prepare a bank recondiiatien. Bess's hank reparted a lanuary watarice of $6,0,0 Step by Step Solution
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