The cash account for American Medical Co. at April 30 indicated a balance of $334.985. The bank statement indicated a balance of $388,600 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $61,280. b. A deposit of $42,500, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $42,000 on a $40,000 note, including interest of $2,000. d. A check for $7,600 returned with the statement had been incorrectly recorded by American Medical Co. as $760. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account. 2. A check drawn for $240 had been erroneously charged by the bank as $420. - Bank service charges for April amounted to $145.

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I submitted this question a few moments ago and realized I didn't attach all the images. Submitting again with BOTH this time! :) Problem #PR 8-3A and excel template I'm stuck on.

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1.
AMERICAN MEDICAL CO.
Bank Reconciliation
April 30
Cash balance according to bank statement
$ 388,600
Add:
Deposit of April 30, not recorded by bank
Bank error in charging check as $420 instead of $240
42,500
180
42,680
Deduct: Outstanding checks
Adjusted balance
61,280
$ 370,000
Cash balance according to company's records
Note and interest collected by bank
Add:
42,000
Deduct: Error in recording check
Bank service charges
6,840
145
6,985
Adjusted balance
2.
April 30 Cash
42,000
Notes Receivable
40,000
Interest Revenue
2,000
Accounts Payable - Targhee Supply Co.
Miscellaneous Expense
30
145
Cash
3.
Amount to be reported on April 30 balance sheet
%24
%24
Transcribed Image Text:1. AMERICAN MEDICAL CO. Bank Reconciliation April 30 Cash balance according to bank statement $ 388,600 Add: Deposit of April 30, not recorded by bank Bank error in charging check as $420 instead of $240 42,500 180 42,680 Deduct: Outstanding checks Adjusted balance 61,280 $ 370,000 Cash balance according to company's records Note and interest collected by bank Add: 42,000 Deduct: Error in recording check Bank service charges 6,840 145 6,985 Adjusted balance 2. April 30 Cash 42,000 Notes Receivable 40,000 Interest Revenue 2,000 Accounts Payable - Targhee Supply Co. Miscellaneous Expense 30 145 Cash 3. Amount to be reported on April 30 balance sheet %24 %24
ndicate why it exists.
PR 8-2A Transactions for petty cash, cash short and over
Jeremiah Restoration Company completed the following selected transactions duringg
Excel
Jan. 1.
Established a petty cash fund of $900.
12. The cash sales for the day, according to the cash register records, totaled $6,148.
The actual cash received from cash sales was $6,180.
How
31. Petty cash on hand was $75. Replenished the petty cash fund for the following
disbursements, each evidenced by a petty cash receipt:
Chapter 8 Internal Control and Cash
431
Jan. 3. Store supplies, $470.
7. Express charges on merchandise sold, $55 (Delivery Expense).
9. Office supplies, $30.
13. Office supplies, $11.
19. Postage stamps, $55 (Office Supplies).
21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative
Expense).
22. Postage due on special delivery letter, $30 (Miscellaneous Administrative
Expense).
24. Express charges on merchandise sold, $85 (Delivery Expense).
30. Office supplies, $14.
Jan. 31. The cash sales for the day, according to the cash register records, totaled $4,550.
The actual cash received from cash sales was $4,536.
31. Decreased the petty cash fund by $200.
Instructions
Journalize the transactions.
PR 8-3A Bank reconciliation and entries
ST80
The cash account for American Medical Co. at April 30 indicated a balance of $334,985.
The bank statement indicated a balance of $388,600 on April 30. Comparing the bank
statement and the accompanying canceled checks and memos with the records revealed
the following reconciling items:
a. Checks outstanding totaled $61,280.
Adjusted balance:
Excel
b. A deposit of $42,500, representing receipts of April 30, had been made too late to
appear on the bank statement.
General
Ledger
c. The bank collected $42,000 on a $40,000 note, including interest of $2,000.
d. A check for $7,600 returned with the statement had been incorrectly recorded by
American Medical Co. as $760. The check was for the payment of an obligation to
Targhee Supply Co. for a purchase on account.
e. A check drawn for $240 had been erroneously charged by the bank as $420.
f Bank service charges for April amounted to $145.
Transcribed Image Text:ndicate why it exists. PR 8-2A Transactions for petty cash, cash short and over Jeremiah Restoration Company completed the following selected transactions duringg Excel Jan. 1. Established a petty cash fund of $900. 12. The cash sales for the day, according to the cash register records, totaled $6,148. The actual cash received from cash sales was $6,180. How 31. Petty cash on hand was $75. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Chapter 8 Internal Control and Cash 431 Jan. 3. Store supplies, $470. 7. Express charges on merchandise sold, $55 (Delivery Expense). 9. Office supplies, $30. 13. Office supplies, $11. 19. Postage stamps, $55 (Office Supplies). 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $30 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $85 (Delivery Expense). 30. Office supplies, $14. Jan. 31. The cash sales for the day, according to the cash register records, totaled $4,550. The actual cash received from cash sales was $4,536. 31. Decreased the petty cash fund by $200. Instructions Journalize the transactions. PR 8-3A Bank reconciliation and entries ST80 The cash account for American Medical Co. at April 30 indicated a balance of $334,985. The bank statement indicated a balance of $388,600 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $61,280. Adjusted balance: Excel b. A deposit of $42,500, representing receipts of April 30, had been made too late to appear on the bank statement. General Ledger c. The bank collected $42,000 on a $40,000 note, including interest of $2,000. d. A check for $7,600 returned with the statement had been incorrectly recorded by American Medical Co. as $760. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account. e. A check drawn for $240 had been erroneously charged by the bank as $420. f Bank service charges for April amounted to $145.
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