Question

An examination of the cash activities during the year shows the following. Desc. Date 7/1 7/15 7/22 7/30 Amount $ 3.720 1.850 210 1e3 8/1 GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Receipts Cash Disbursements Desc. Amount Date Checki Stock sale $ 25,00 7/1 191 Insurance Clinic receipts 2.000 7/2 182 Legal fees Clinic receipts 1,840 7/7 DC Advertising Clinic receipts 5,508 7/8 Bikes Borrowing 21, see 7/24 Advertising Clinic receipts 4.980 8/4 124 Kayaks Clinic receipts 11, 2008/24 Office Supplies Clinic receipts 12,300 9/1 105 Rent Clinic receipts 17,88 12/8 Race permit Race receipts 12,eee 12/16 107 Salary 12/31 185 Dividend 12/31 109 Dividend $111,848 8/10 8/17 9/21 10/17 12/15 11,100 610 15,488 1.710 1,320 106 1.119 1,880 2.500 2,500 $43.838 Summary of Transactions Beginning Cash Balance July 1, 2021 S 9 + Cash Receipts $111.840 - Cash Disbursements $43, e38 Ending Cash Balance December 31, 2021 $68,810 Suzle has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time. Suzle makes deposits at the bank only on the first day of each month.

Answer 1

GREAT ADVENTURES. INC. Bank Reconciliation October 31, 2021 Company's Cash balance $ 63,710 Per general Ledger $ 12,000 Interest earned 4 Bank's cash balance 5 Per Bank Statement 6 Deposits outstanding 7 8 Checks outstanding $ 68,810 $ 400 $ -6,800 Service fee $ - 300 10 Bank balance per reconciliation $ 68,910 Company balance per reconciliation $ 68,910

GREAT ADVENTURES. INC. Bank Reconciliation October 31, 2021 Company's Cash balance 63710 Per general Ledger 12000 Interest earned 4 Bank's cash balance 5 Per Bank Statement 6 Deposits outstanding 7 8 Checks outstanding 68810 =300+100 --1800-2500-2500 Service fee =-150-150 10 Bank balance per reconciliation =+B5+B6+B8 Company balance per reconciliation =+D5+D6+D8