Question

need help with balance sheet at the bottom

DEAVER CONSULTING Bank Reconciliation October 31, 2046 $ Cash balance according to bank statement Add: Deposit of October 31, not recorded by bank 31,095 4,120 35,215 $ $ Deduct: Outstanding checks Bank error in charging check as $230 instead of $320 Adjusted balance 10,125 90 (10,215) ( 25,000 $ $ Cash balance according to company's records Add: Proceeds of note collected by bank, including interest 15,750 10,400 26,150 $ $ Deduct: Company error in recording check Bank service charges Adjusted balance 1,080 70 (1,150) 25,000 $ Balance Sheet Statement of Cash Flows $ Assets Notes Cash + Receivable 10,400 $ Stockholders' Equity Retained Earnings $ Llabilities Accounts Payable S (1,080) + Income Statement - Int. revenue Misc. exp. $ $ Effect of note collection Effects of recording company error and bank service charge

Answer 1

Statement of cash flows Cash Assets Liabilities Equity +Notes Receivable=Accounts Payable +Retained Earnings $-10400 Income Statement Effect of Note collection $10400 $10400 Int Revenue Effects of recording company error and bank service charge$-1150 $-1150 $-1080 $-70 $70 Misc Exp.