Question

An examination of the cash activities during the year shows the following. Amount $ 5,640 1,850 102 DC 370 103 Date 7/1 7/15 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 Canh Disbursements Desc Amount Date Check# Dese. Stock sale $ 25.000 7/1 - 101 Insurance clinic receipts 2.000 7/2 Legal fees Clinie receipts 1.840 7/7 Advertising clinic receipts 5.500 7/8 Bikes Borrowing 37.000 7/24 Advertising clinic receipts 4.000 8/4 104 KayakB clinic receipts 11.200 3/24 office supplies clinic receipts 13,900 9/1 105 Rent clinic receipts 18.600 12/8 106 Race permit Race receipts 12.000 12/16 107 Salary 12/31 Dividend 12/31 109 Dividend $131,040 Dc DC 12,700 770 37. BOD 1,870 3,240 1.220 1,800 2.500 2.500 $72,310 108 Summary of Transactions Beginning Cash Balance Ending Cash Balance July 1, 2021 $ 0 + Cash Receipts $131.040 - Cash Disbursements $72,310 December 31, 2021 $58,730 Suzie 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, Suzie makes deposits at the bank only on the first day of each month.

Answer 1

1
Bank Reconciliation
December 31,2021
Bank's Cash balance		Company's Cash balance
Per bank statement	53630	Per general ledger	58730
Deposits outstanding	12000	Interest earned	400
Checks outstanding	-6800	Service Fees	-300
Bank balance per reconciliation	58830	Company balance per reconciliation	58830

2b
General Journal	Debit	Credit
Cash	400		=300+100
Interest revenue		400
General Journal	Debit	Credit
Service fees expense	300		=150+150
Cash		300