Spielberg Company's general ledger shows a checking account balance of $22,870 on included in the general ledger balance, are placed in the night depository at the bank on 1. The bank statement dated July 31 shows bank service fees of $45. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,360. The bank statement shows a balance of $22,400 on July July 31, 2021. The July cash receipts of $1,785, July 31 and processed by the bank on August 31. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) SPIELBERG COMPANY Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Per General Ledger Per Bank Statement Bank Balance per Reconciliation Company Balance per Reconciliation 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 1 Record the amounts that increase cash Note: Enter debits before credits. Date General Journal Debit Credit July 31, 2021 Record entry Clear entry View general journal A
Spielberg Company's general ledger shows a checking account balance of $22,870 on included in the general ledger balance, are placed in the night depository at the bank on 1. The bank statement dated July 31 shows bank service fees of $45. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,360. The bank statement shows a balance of $22,400 on July July 31, 2021. The July cash receipts of $1,785, July 31 and processed by the bank on August 31. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) SPIELBERG COMPANY Bank Reconciliation July 31, 2021 Bank's Cash Balance Company's Cash Balance Per General Ledger Per Bank Statement Bank Balance per Reconciliation Company Balance per Reconciliation 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 1 Record the amounts that increase cash Note: Enter debits before credits. Date General Journal Debit Credit July 31, 2021 Record entry Clear entry View general journal A
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Spielberg Company's general ledger shows a checking account balance of $22,870 on
included in the general ledger balance, are placed in the night depository at the bank on
1. The bank statement dated July 31 shows bank service fees of $45. The bank processes all checks written by the company by July 31
and lists them on the bank statement, except for one check totaling $1,360. The bank statement shows a balance of $22,400 on July
July 31, 2021. The July cash receipts of $1,785,
July 31 and processed by the bank on August
31.
Required:
1. Prepare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021. (Amounts to be deducted should be
indicated with a minus sign.)
SPIELBERG COMPANY
Bank Reconciliation
July 31, 2021
Bank's Cash Balance
Company's Cash Balance
Per General Ledger
Per Bank Statement
Bank Balance per Reconciliation
Company Balance per Reconciliation
2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal
Entry Required" in the first account field.)
View transaction list
Transcribed Image Text:2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal
Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
2
1
Record the amounts that increase cash
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
July 31, 2021
Record entry
Clear entry
View general journal
A
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