Question

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An examination of the cash activities during the year shows the following. Date 7/1 7/15 LI DC 103 7/22 7/30 8/1 8/10 8/17 9/21 10/17 12/15 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Check# Desc. Stock sale $ 30,000 7/1 101 Insurance clinic receipts 1,800 7/2 102 Legal fees Clinic receipts 2,760 7/7 Advertising Clinic receipts 3,600 7/8 Bikes Borrowing 35,000 7/24 DC Advertising Clinic receipts 5,100 8/4 104 Kayaks clinic receipts 11,900 8/24 DC Office supplies clinic receipts 13,700 9/1 Rent Clinic receipts 18,400 12/8 106 Race permit Race receipts 30,000 12/16 107 Salary 12/31 108 Dividend 12/31 Dividend $152, 260 Amount $ 5,400 1,750 350 12,500 750 35,000 1,850 3,000 1,250 2,000 3,000 3,000 $69,850 105 109 Summary of Transactions Beginning Cash Balance Ending Cash Balance - July 1, 2021 + $ 0 Cash Receipts $152,260 Cash Disbursements $69,850 = December 31, 2021 $ 82,410

Answer 1

Bank Reconciliation
December 31,2021
Bank's Cash balance		Company's Cash balance
Per bank statement	60610	Per general ledger	82410
Deposits outstanding	30000	Interest earned	300
Checks outstanding	-8000	Service Fees	-100
Bank balance per reconciliation	82610	Company balance per reconciliation	82610

2b
General Journal	Debit	Credit
Cash	300		=100+200
Interest revenue		300
General Journal	Debit	Credit
Service fees expense	100		=50+50
Cash		100

Workings:
Checks outstanding:
107	2000
108	3000
109	3000
Checks outstanding	8000